Frugal is the new hip

September 8, 2008 at 9:20 pm Leave a comment

For tweens, teens and twenty-somethings, the economic downturn truly hurts. In this environment, a demographic formerly flush with cash is now doing with less – or with very little at all. Why? In bad times, part-time work – the gigs most often done by these young adults – go away. Or, unemployed adults muscle them out. At the same time, parents are tighter with allowance money.

Lean spending budgets are a novel experience for many. But true to form with Flux Gen, a demographic accustomed to continually adopting and advancing to new things, they’re being more resourceful. This group is still full of wants, but is ironically behaving like their value-driven parents. Want a new iPhone? Look on Craigslist or eBay. Interested in Call of Duty IV? Try swapping with a friend or looking for a used copy. While the mall is still a destination for social gathering, it’s less appealing as a place to acquire the latest techno bling. Brand new is too expensive. In today’s economy, the new cool is getting the same for less. Frugal is hip.

What’s that mean for marketers? Challenging times for sure. But in this environment, marketers with clear brands that resonate need to stay the course. This, too, shall pass. Most importantly, they need to make sure their brand is real, both presentation and in value. If not, tweens, teens and twenty-somethings will see right through it.

Advertisements

Entry filed under: Research.

The Five Drivers Of Teen Buying Behavior: What Marketers Need To Know (Part II) The games kids play … may do some good after all

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Trackback this post  |  Subscribe to the comments via RSS Feed


Calendar

September 2008
M T W T F S S
« Jul   Oct »
1234567
891011121314
15161718192021
22232425262728
2930  

Most Recent Posts


%d bloggers like this: