LOSS IS MORE

Not since the economic shockwave that resulted from 9/11 has there been the tumult in our economy that has been driven by recent economic faults. Unemployment and underemployment remain so high that consumers are scared about their future. The “old reliable” safety net of home values has seen a 50% shrinkage that has home owners dreamin of being in a rental unit. Our retirement plans are now inadequate for stopping work voluntarily. The loss is palpable.

Loss is making us all consider how to do more with less.

The new frugality has us stretching our dollars by shopping at discount merchandisers rather then at specialty stores.

Little things mean more as we begin to accept a simpler approach to life. Perhaps in the simplicity is a less complicated and more satisfying life. So many people are depressed by the loss but at the far end of the loss is change, simplicity and perhaps a better life.

As marketers, we need to recognize what is happing with consumers and help consumers to do more with less; to feel good about simpler things; and to assist them in the new frugality.

Not only is the saying “Less is More” appropriate for today, but also a recognition that the driving force of “loss” … can be more.
Jeff Heilbrunn
October 1, 2010