Trends and opportunities
After watching the recommended video, I am without a doubt that the presentation was very good. I enjoyed the points that were raised in terms of the trends that have erupted following the resent US financial recession. The consumer has been described as more informed and in control of finances as opposed to the past excess spending. One of the cultural shifts mentioned that I find interesting is that of the change in the expenditure of consumers. More people are now saving and cutting down on unnecessary needs such as expensive vacations and expensive and unwanted extra cars. John Gerzema went on and mentioned that according to statistics, more people are holding on to their cars for longer with an average of 9.4 years. This makes durable living the most fascinating cultural shift to me when it comes to the presentation.
Among the four shifts that were mentioned in the presentation, the one that I would like to reiterate is the point on empathy. I have realized that this is one that I wished was a little more in the dynamic shift post crisis in America. Even though the speaker has mentioned that this is one of the trends that has changed positively, I still believe that there is room for more in this zone. I am of diverse beginning and began with very little in an African country. I had also witnessed multiple people lack. In the middle of lack and wants, I have witnessed people spend lavishly while others scavenge from the wastes of affluent. While John Gerzema mentions durable living as a shift, this really touched me and I believe that durable living is the way of the world and it should be better embraced. “If it is broken, fix it and not throw it away”. Empathy and the shift from mindless to mindful – people and beginning to change their mind frame in terms of consumer behavior and this is also affecting the marketing trends globally (McCarthy, 2013)....