How The Recession Has Changed Us

2010 Post-Recession Consumer Study | Ogilvy & Mather.

This morning I googled "recession 2010."  Most of the links on the first page were famine-and-locusts-style articles about how we ain't seen nothin' yet; that we're headed toward yet another recession, or perhaps the great depression of 2011.  And then there were a few hopeful (wishful?) articles talking about the recession in the past tense.

By far the most interesting article to me was this one on the Ogilvy & Mather website. It summarizes  research they've done that shows consumers have emerged from the economic difficulties of the past few years with a renewed focus: we are less convinced that money will bring us what we want, and less in pursuit of money as a specific goal.  We're more interested in doing work that will satisfy us, and spending time with those we love.

One very interesting finding: consumers have a new self reliance.  We believe that the economy can be repaired by individuals consciously creating sustainable lifestyles, rather than by massive efforts on part of government or financial institutions.  In the study, they call the new consumer consciousness "Eyes Wide Open, Wallets Half-shut."

This completely aligns with our observations of our clients: as compared to a few years ago, they are far more focused on envisioning a future that feels balanced and feasible to them – both organizationally and personally – and then taking the steps to move toward that future.

How about you?