Implications: Humans are fascinating people.
Another example of
financial infidelity that I’ve used over the years is when someone buys a ($500
golf club, laptop, or other) big-ticket item, and pays for it partially with
cash, partially on the household bank card, and partially with a credit
card. It is, in effect, laundering the
household money so that a purchase is not easily traced. When one describes this dastardly behavior in
front of a hundred people in a consumer trends workshop… it’s funny how many
people in the audience start to blush!
The difficulties that
many people went through a few years ago—and the slow recovery they have been
experiencing since—have imposed new financial realities on a lot of
households. In what could only be called
a cultural consumer shift, many folks have denied themselves the kind of
indulgences that were commonplace in the pre-recession economy. It only makes sense that eventually, people
would become fatigued, act on the idea of pent-up demand, and move forward with
some small (and some not-so-small) indulgences.
Even if their partner might not know about it.
Have you made a
purchase, or stashed some cash, without telling your spouse or partner about
it?
Are your customers thinking
about doing it as they walk through your business?
Mike Anderson, for
the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.
No comments:
Post a Comment