Economic Perspectives with Hopeton Hay on KAZI 88.7 FM in Austin, TX

Shifting Values Impact on Consumer Behavior Focus on 2nd Segment of November 8 Economic perspctives

Posted by Hopeton on November 6, 2010

John Gerzema, co-author of Spend Shift: How the Post-Crisis Values Revolution is Changing the Way We Buy, Sell, and Live will be featured on the second segment of of the November 8 edition of Economic Perspectives.

Gerzema’s book is based in part on findings from Young & Rubicam’s database of consumer attitudes (the world’s largest), which has surveyed 17,000 consumers quarterly for the past seventeen years.  The survey reveals that since 2007—even before the crisis—all data pointed to a revolution in the making. Americans were becoming uneasy with debt and excess spending, distrustful of leaders and skeptical of materialist values.

These new “Spend Shifters”—55% of Americans—are not defeated by the downturn but instead are proudly returning to bedrock American virtues—thrift, faith, creativity, community, hard work and more—in order to build new lives of purpose and connection.  They still buy, but they’ve shifted from mindless to mindful consumption, from acquisitive to inquisitive, and from dependent customers to self-reliant do it yourselfers. Their every purchase is less about materialism and more about voting for their values with their dollars.

John Gerzema is Chief Insights Officer of Young & Rubicam and author of a previous book, The Brand Bubble, which was named a best business book of the year by Amazon.com and strategy+business.  He has spent his career creating and guiding the brand strategies of many household names: McDonald’s, BMW, Coca-Cola, United Airlines, Holiday Inn and more.

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