The Cookie Monster Will Return

Anybody else out there not really buying all these “things are looking up!!! really!!!” pieces in the media? I just have to see how my own business has a much different flow than it’s had in years past to know that all is not entirely “normal.” Though I believe that “normal” will be purposefully redefined over the next few quarters.

People are still spooked, jobs are still being lost, and budgets are still incredibly slow to be approved.

A quick glance through Roper’s Mood of the World Report had these numbers jumping out at me:

69% of US consumers agree that “this is the worst economy I’ve ever experienced”

62% of global consumers experienced a negative event, while 23% experienced a positive one (such as job advancement, job distress, increasing value of savings & investments, declining value of savings & investments, financial windfall, difficulty paying monthly bills, housing distress)

86% of global consumers have used some kind of money-saving strategy this year

1970s Recession Conventional Wisdom Said Simple Life Was Here to Stay
59% of Americans in 1974 agreed that “doing without some things and living a more austere life would be a good thing”
Only 20% felt doing without was a bad thing

Which, as you recall, led straight into the Go-Go Eighties and “Greed is good” and that ridiculousness. We have short memories, huh?

I recently did some focus groups across the country and in EVERY market, even though we were in a couple that had been particularly hard hit by the housing bubble bursting, respondents told us over and over again that in 5 years they were going to be RICH. Not just better off than they were at the moment but wearing the best designer clothing and accessories, owning multiple vehicles and homes, boats, you name it. No one was calling their desire by its proper name – there was lots of talk of being comfortable and not having to worry about finances but every visual that was chosen was one of sumptuous, over the top luxury.

The “I must consume” Cookie Monster will be back, don’t you worry. We’ll all have too much work and the conferences will be in places we really want to go!