The idea to stop buying stuff was once the preserve of radical “freeganes” or anti-globalists. Now the concept is getting high level support: Sir Martin Sorrell, founder and CEO of WPP, the world’ No 2 advertising group after Omnicom, was reported to say “Our view, which is counter to what you expect our industry to argue, is that conspicuous consumption is not productive, and should be discouraged.”
Futurologist Faith Popcorn might take Sorrell as proof for the trend she dubbed "Karma Capitalism" trend: Consumers, driven in part by economic imperatives and their own growing sense of social responsibility, are gravitating toward cheaper stores and more environmentally friendly products and are shunning consumption. (see this article)
Harvard Business School professor John Quelch found a new category of consumers: The middle-aged “Simplifiers” who are more interested in experience than in possession. (see more here)
“Live simply” is the new motto – either out of choice or out of necessity. “Live simply and let others simply live” could in fact be the formula to erase many of mankind’s problems.
However, at this point it gets complicated because when some people decide to live simply, others lose their profits or their jobs or the welfare net that they relied on. And so governments run for help with bailout money and the vow to incentivize consumption.
Futurologist Faith Popcorn might take Sorrell as proof for the trend she dubbed "Karma Capitalism" trend: Consumers, driven in part by economic imperatives and their own growing sense of social responsibility, are gravitating toward cheaper stores and more environmentally friendly products and are shunning consumption. (see this article)
Harvard Business School professor John Quelch found a new category of consumers: The middle-aged “Simplifiers” who are more interested in experience than in possession. (see more here)
“Live simply” is the new motto – either out of choice or out of necessity. “Live simply and let others simply live” could in fact be the formula to erase many of mankind’s problems.
However, at this point it gets complicated because when some people decide to live simply, others lose their profits or their jobs or the welfare net that they relied on. And so governments run for help with bailout money and the vow to incentivize consumption.
But it does not seem to work so far. Brian Gendreau, a strategist at ING Investment Management in New York analyzed that "normally markets are driven by fear and greed. Now it's fear and fear." Getting greed (as the desire to consume more and more) back into the system seems to be the only solution to the current crisis that governments and companies can imagine. Greed is the familiar. The unfamiliar only causes more fear.
Many consumers – or lets call them citizens – seem to realize that the situation does not call for a re-installation of greed. Governments should stop denying that reality and save their money for more urgent projects. Face the harsh reality of the end of growth through consumption and downsize with honesty and empathy. Face the fear in the market and learn from "sociopreneurs" how to overcome its numbing effects - and that making business may be rewarding without huge profits.
Picture from Greengaged via The Idea Feed
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