3 under-appreciated trends in consumer behavior (and resultant imperatives for marketers)
The US economy is heavily consumer dependent- that is
pretty much stating the obvious. What we seem to be oblivious to is how much
the consumer that drives the economy has changed since the Great Recession. We
do however feel the symptoms- the tried and tested remedies of the past
struggle to drive momentum. Profits stagnate- data from the Bureau of Economics indicate
corporate earnings have been in decline since 2012 after staging a recovery
following the recession.
Many marketers are opting to simply take price up
as demand stagnates without truly understanding the shift in consumer behavior
that is making past playbooks irrelevant. Below LinkedIn in post hones
in on 3 familiar yet often underestimated trends that are directly shaping the
interplay between consumer behavior and marketing strategy.