Recession changes consumption
Sunday, February 15, 2009 10:44Posted in category sales
Bloggingstocks has a good post on how spending on romance is also affected by the recession. Their post starts like this:
As John, Paul, George, and Ringo once said, “Money can’t buy me love.” While true, money can buy long-stemmed roses, expensive dinners, theater tickets, and jewelry.
Pretty accurate don’t you think? The question is that if you sell, say, jewelry or any other luxury product for that matter, how do you sell it in recession?
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Ari Lestariono says:
February 15th, 2009 at 4:03 pm
It’s metaphoric about money…its not everyhting…but if you don’t have….then what?
Ari Lestariono’s last blog post..7 Forbidden Habits for A Healthy Diet and Weight Loss Naturally
admin says:
February 15th, 2009 at 6:30 pm
Brilliant! Thanks for commenting this post, I noticed that I hadn’t included a link to Blogging Stocks. Yeah, money is not everything, but like Mae West said maybe you don’t shop in the right places…
Sure enough people don’t need the latest Gucci handbag, they could just use the same old or second hand one, but there is something about those envious eyes, which follow us on the street. It is the audience that makes us to spend on some lavish items. If we would only wear Gucci while alone at home, well, luxury item market would be lot smaller.
To answer my own question, I believe that luxury brands should now resort to visibility, to that irresistible force of peer pressure. They should stress the employment benefits of high consumption and keep their prices up. They should grab larger visibility now that media slots are cheaper. They should endorse celebrities even more, because recession hits celebrities too.
Tell me Ari, how do you sell healthy lifestyle in recession? Healthy living has an image of being more expensive than buying budget junk food. So how would you combat this value trend?