Friend and colleague Jim Hopes sent me an article that appeared in this morning’s Advertising Age. It had to do with the growing distance between higher income consumers… and everyone else. Click here to see the story.
Implications: Since the recession began—even through the current recovery—a core tenet of Elm Street Economics is that “The target consumer you serve today might be somewhat or completely different from the target consumer you served in 2006; and even if you have the same target consumers, those people may have vastly different needs or purchasing priorities.”
The Ad Age article helps illustrate why that is the case.