It’s Darwin’s 200th birthday today, and I’ve been thinking a lot about evolution as it pertains to business. Marketing calls this “economic darwinism” and even though my anthro professors scoffed at such a term, I think it’s interesting to compare the econ concept of supply and demand to Darwin’s concept of natural selection.
I came across this article today (below) and it made me mad. From the consumer perspective, how dare you tell me to spend right now for the “good of the economy?” I’m finally starting to figure out how to do what’s best for me, my family, and our financial wellbeing–saving for our future, eliminating debt–and you’re telling me that it’s wrong? That I should be spending? No one is explaining WHY this is. Why is the answer to a weakened economy MORE mass consumption (which is tantamount to the self sacrifice of individual consumers)? Bush told us all to spend, spend, spend after 9-11 and it didn’t do us very much good. I think people are starting to see through these “spend” mantras and doubt the truth of the “economic collapse” warnings.
http://money.cnn.com/2009/02/12/news/economy/savings_rate/index.htm?cnn=yes
Here at Context, we’ve been doing some fascinating work on the major cultural changes that are underway in response to the economy. It starts with people realizing that there’s a new wind blowing through; a new realization that we are all responsible for our own financial and economical wellbeing that it is very strongly correlated with our spending habits. Folks move through stages as they “evolve;” moving closer to a new consumer identity that we’ve called “the Grounded Consumer.” Grounded Consumers understand the difference between need and want, between spending and saving. They pay off their debt and take measures to ensure a healthy future financially. They stop senselessly consuming and believe that experiences are more important and gratifying than things or the act of buying things. This is good news for consumers, bad news for companies. The reduced spending that puts consumers in a better place has companies all but panicked about their ability to sustain themselves.
The good thing is that hopefully when the dust settles we’ll be left with companies that actually fulfill a legitimate consumer need rather than exacerbating mindless conspicuous consumption. In this new environment (I saw on the news last night they’re coining it the “New Reality”), different pressures are on businesses than before which inevitably means some will be fitter than others. These pressures are largely driven by consumer culture and the changing landscape of the nature of “demand.” Hence, our focus on this being a cultural change hits right on the center of the issue. Companies that get this sooner rather than later and are able to form themselves to the new mold of the Grounded Consumer will be more likely to survive. Those that don’t adapt well to the new environment will be selected out of the producer gene pool and go the way of the dodo bird.
February 12th, 2009 - Posted in Anthropology, Behavior, Consumer Products, Cultural Trends, Ethnography | |
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Interesting. If we have become overrun with companies that are not really needed, that are making crap just for the sake of making crap then maybe it will actually be good for our country if they cease to exist.
Clearly the loss of jobs from those crap-making companies is a problem, but perhaps there will be a refocusing on jobs (and companies) that create something needed and positive in our society.
They say that our sudden saving behavior is bad for the “economy” but maybe, as you are suggesting, it is simply going to force our economy, our society, to be better. I’m all for that!
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