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Monday, November 14, 2011

Frugality is not just “in fashion” anymore; for many consumers, it has become an operating system

Observation: is usually a reliable source of consumer trend observations, but this week, they’ve outdone themselves.  In a body of work titled “Dealer-Chic,” the publication explains how and why consumers have evolved their strategies to improve “the art of the deal,” using everything from increased business acumen to the latest technology.  Click here to read the series.

Implications:    To say that consumers expect lower prices on the goods they buy would be over-simplifying the issue.  It’s not just a sale they’re after.  This set of articles suggests (again) that people want more experiences… whether that means an enhanced purchasing process or a way of enjoying the product/service after the purchase.  They’re looking for value-added.  And they’ve become enchanted with the process of finding that deal, using smart phones to comparison shop and their social networking to learn/share information with others.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

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