consumer
Older, Wiser and way more Demanding
As part of the baby-boom generation that grew up rather simply – that is, not thinking too hard about food or even knowing the right questions to ask – I’m thrilled to finally have the 24/7 access to information that defines today’s world.Whole Foods, Meijer, Trader Joe’s and HyVee as sources of information.
Colman Brohan Davis’s recent Food Shopping Survey 2009 turned up some interesting insights about my peers. Relative to the other segments measured (Women 
20 – 25 and Men), we are heavier readers and tv watchers, looking to books, magazines and the tube to gather information and form opinions. And we’ve avidly embraced life online, particularly search and mobile. We love exploring blogs, postings and sites that provide insight and data about food. We have fun sharing our opinions.
Here are some highlights of our research:
Making It Too Easy to Say Good-bye
Office water-cooler talk often is a dialogue around “can you top this.” Lately, the topic—unfortunately—is really bad customer service encounters.
Things seem to be getting worse out there. A recent mystery-thing in a jar of peanuts prompted me to actually send a letter to the manufacturer and the jaw-breaking-clearly-not-edible chunk, only to receive a “thank you for your letter and here’s a $5 coupon” in return. No indication of what the strange item actually was, or reassurance that it was safe.
This morning, I’m fuzzy from the realization that a 30-year relationship with the Chicago Tribune has come to a close.
Sure, I’ve toyed with walking away … the paper is stripped out and a mere shell of its former self, both in quantity and quality. Typos are everywhere (a sports headline last week had someone “thown” from a game). The new crossword puzzles are awful! But I still devour the editorial page, adore “Ask Amy,” and actually learn things I really don’t want to know about the goings-on at City Hall courtesy of John Kass. So I’ve hung in there. But then …
We are not who we used to be.
Not too long ago, I had the pleasure of attending Executives’ Club of Chicago’s Economic Forecast 2009. This was my second year, and I remember the tone of the 2008 event as cautiously optimistic. Who could have known that all the cards that the house was built from would fall at the same time, right? At any rate, I listened to the 2009 presentations with a healthy mix of skepticism and cynicism.
As I remarked to Liz at the time, I feel that I’ve been forever changed by the events of the last year. For instance, I am now more concerned with the company that gets my dollar. I consider small businesses more readily. I take time to look up economic and financial terms I don’t understand. I think about things I can make on my own, and I’m even (gasp) cooking at home more often. My values have shifted and I am stingier with my trust. And it’s reflected in my purchase consideration.
I was making this point to a client recently, in the context of their need for research into a new service they want to provide. They are in the enviable position of establishing a new brand, so they have a great opportunity to tap into insights – and satisfy both emotional and rational needs in a differentiating way. But this opportunity is no less important to more established brands.
We aren’t who we used to be, in both subtle and bold ways. And the nuances of motivation are the stuff of competitive advantage. Seize the day.
[Read an interesting take on the Executives’ Club of Chicago’s Economic Forecast 2009 here]
Technology trend outlook: the rise of hand-helds and services
I was reading this article on cnn.com, in which author Jon Fortt predicts the downfall of PCs and the rapid rise on the hand-held. He also is seeing a trend toward outsourcing, and proliferation of online services and applications. It got me to thinking there may be some truth to it. Consumers rushed out to get multi-GB storage and multi-core processors, when they were just using their home computers for playing video games and downloading music. A cheap handheld device or netbook does all that fun stuff. But I’m not giving up my laptop or my desktop. I am just not willing to give up a full size keyboard!
New “Blackberry” toy for kids?
Check this new educational toy out. It appears to be an oversized version of a Blackberry, but it’s LeapFrog’s new “Text & Learn”, set to release in August. Critics fear that it’s too close to the Blackberry design and functionality. Apparently the risk is in creating an unfair bias toward Blackberry.
So is it a diabolical plot to influence the future purchase preference of children? Does this signal that Blackberry is looking at a tween version to launch soon? I’ll keep an eye on it.
I’m sure handheld device competitors wish their product design was emulated in a child’s toy. Getting used to how you use your electronic device is a key loyalty factor. I personally have an irrational aversion to buying a different model of cell phone. I’ve used the same type for years simply because I don’t want to have to relearn how to use an appliance that I rely on every day.
Of course, technology moves so fast, who knows what handheld devices may look like in 5 years, let alone 15 or 20 years. When kids who own this toy are ready to have their schedules, communications and relationships electronically enabled, we may be using tiny chips embedded in a wristwatch that is voice controlled. (While I’m dreaming, can I put in a request that I get one that’s able to project my favorite television programs in holographic splendor wherever I am?) It could be that Blackberry competitors really have nothing to fear.
What do banking customers want now?
If you can, get a copy of “The Banks Mount A Charm Offensive” from November 17th’s Businessweek. According to author Burt Helm banks are working “behind the scenes” to “persuade people not to yank their cash and stuff it under the mattress.”
Banking institutions are coaching employees about how to directly answer uncomfortable questions posed by increasingly concerned customers. These customers are more educated now about issues like an institution’s capitalization and lending practices. They need to feel safe, and they are not shy about seeking answers to questions they would never have asked before.
As consumers demand ever greater transparency, it will be interesting to see how companies of all sizes will react. It may be that smaller, private companies will thrive in this environment. Instead of crafting carefully worded scripts, they will be able to spontaneously, directly, openly – even proactively – provide the kind of information that (re)builds trust.
