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Food for thought and fru heading into 2009

Modern marketing as we’ve known it has been all about consume, consume, consume. The more you consume, the better a citizen you are – you’re fueling the economy. But that’s starting to change as consumers embrace what the Boomer Consumer Blog calls the “New Fru” mindset. Fru — Frugality:) I really like this concept and am definitely feeling it. Are you?

.A recent Wall Street Journal has three insightful items:
1. Full-page ad by DeBeers with the headline “Here’s to Less” and copy about a diamond being something that can be passed down for generations.
2. Article about the dramatic fall-off in luxury car sales. Reasons? Recession and people not wanting to be “showy.”
3. Essay about the rediscovery of a class of Americans who have been shunned for decades: those prudent Americans who pay their credit card bills and save money.

Seen the Target ads where the message is that you can save more by spending at Target? The real question is will this new-found frugality go away when the recession ends? Or, is this a permanent shift in consumer behavior that will have lasting impact on marketing? Definitely something to think about as we wrap up business for 2008 and head into 2009.

Consider checking out The Story of Stuff over this holiday weekend. Even if the facts cited aren’t perfect, it’s quite an eye-opener for anyone trying to understand consumer behavior.

Happy Holidays!