Book Review: "Consumed - Rethinking Business in the Era of Mindful Spending" by Andrew Benett & Ann O'Reilly
Even though the global economy continues to recover (slowly.... ) from a near melt-down, I've noticed some of my personal buying and spending habits change.
And I am seeing and listening to more and more of my friends and professional peers re-thinking how and what they buy and what is important in how and where they buy from.
To better understand this global transformation, Andrew Benett and Ann O'Reilly launched a ground breaking study on the "New Consumer," and what it means to marketers. Their study showed that:
- A significant majority in the seven markets they studied were deeply worried about our consumption-based society.
- Two-thirds believe they would be better off if they lived more simply, and a quarters said they would be happier if they owned less.
- Half of the Americans surveyed derive a sense of satisfaction from reducing purchases during the downturn, and three-quarters feel good about cutting back on the amount of waste they consume.
- A majority of Americans have no intention of going back to their old shopping patterns, even when the economy returns.
"Consumed - Rethinking Business in the Era of Mindful Spending," is a great book that is not only good for grown-ups, but for teens and young adults.
I've noticed my own personal spending habits change over the last two years, and frankly, I think there are hidden blessings in this whole economic maelstrom that we've been though.
How about you? Have you changed the way you buy and shop? And if so, how?
