Tuesday, November 25, 2008
The End of Consumerism Part II
In August I posted on the End of consumerism.
How everyone laughed. Well, no one actually laughed. But no one actually read it either.
Environics Social Values data has shown the following in Canada. In 1995 51% of Canadians agreed with the statement "To spend, to buy myself something new is one of my greatest pleasures in life". That has steadily dropped to 37% in 2008.
The recession brings worries but it also seems to bring a real sense that justice is coming and that consumption and choice have become execessive.
The key is how Gen Y behave. The baby boomers have embraced consumerism as one aspect of the choice and freedom they cherished. They no longer need it. Gen Y appear to be less focused on progress through choice of products but on experience.