Spend Shift

August 23, 2010
A much-needed optimistic yet realistic look at how the recession might be prompting behaviors that will change our society for the better. America, argue the authors, is undergoing a radical but positive shift in consumer values, away from the buying frenzy of the last few decades. Tracking purchasing and social attitudes in the U.S., Gerzema (The Brand Bubble) and D'Antonio (Hershey) observe that the recession has encouraged a resurgence of old-fashioned values—self-reliance, hard work, thrift, and community service. They present studies of such salutary developments as neighborhood revitalization in Detroit, job training in suburban Dallas, and increasing entrepreneurship in Brooklyn. According to the authors, as people adapt to the crisis by seeking greater balance and more fulfilling daily lives, they're more likely to shift to supporting local businesses (ensuring tax dollars stay in their own communities), learning traditional DIY skills, and paying attention to the ethical and environmental practices of the companies to whom they give money.

September 15, 2010
Gerzema is chief insights officer of Young & Rubicam (Y&R), a marketing company specializing in advertising, sales promotion, digital media, and brand identity. Y&R manages the worlds largest database covering consumer attitudes, preferences, and values, going back 17 years. DAntonio is an award-winning author with experience in addressing social and economic trends. Even before the Great Recession wiped out $15 trillion of net worth of investment savings and caused the loss of millions of jobs, there was a subtle shift going on among consumers. This group of spend shifters, comprising more than 55 percent of consumers, has become increasingly aware of the emptiness of overconsumption. They save more and value quality over quantity, favoring companies that they believe have strong social values. A growing number of entrepreneurs are taking on risks to cater to this new demanding consumer in local markets across the country, where a quiet revolution of deglobalization is taking place. This encouraging report shows not only that there are positive aspects to the recession, but also that there are ways to succeed and even thrive in this environment.(Reprinted with permission of Booklist, copyright 2010, American Library Association.)