We’ve all heard that it is more fashionable to be frugal. Well, some people are trying to blend in, even though they’re really not doing too bad, according to this story from Marketing Daily.
Implications: Me-conomics is the idea that some people have basically sat-out the recession. (While the wider economy has been gyrating the past two years, perhaps they live in households where incomes held relatively steady. So these folks might even be in a better position that they were a year or two ago, due to a cost of living that has even fallen in some categories, such as the cost of gas and apparel.)
Even if the widely reported recovery is indeed underway, it is important to empathize with those of your customers who need to be very thrifty. And those who do not… but who might like to appear as if they are.
Mike Anderson
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