Consumer of 2020
An interesting study by Bain (here - via MIT lab for brand cultures) analyzes the consumer of 2020 and predicts:
“The top quintile of consumers will increasingly rank their time and leisure over their money, and reward businesses that recognize this. They will value products and services that are tailored to lifestyle and life-stage needs, particularly health and ageing…” as well as “Despite this growing disparity among incomes, consumers at every level will exhibit crossover behaviours.”
In this day and age where people only have so many spare minutes but an increasing amount of pocket money - you better be prepared for cross-category competition.
Oh…and don’t count on being able to put consumers into well defined market segments in the future!
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May 18th, 2005 at 10:22 am
Isn’t that what Shoshana Zuboff was suggesting a couple of years ago in her book “The Support Economy”?