July 2, 2009
Two out of three American consumers think advertising agencies and various media, such as print, television and web sites, bear some responsibility for the economic downturn because they encouraged people to buy things they could not afford. A large segment – a third of those surveyed – go so far as to say marketers and media bear a great deal of responsibility.
Such are the findings of a recent Harris poll of more than 2,000 consumers reported in Brandweek.
Interestingly, family and friends also came in for some finger-pointing, with 10 percent of those surveyed saying they blame others for encouraging them to overspend.
This is a provocative finding, and not just for the obvious reasons having to do with personal responsibility, or lack of it in the case of many. What’s notable is the idea that people believe they can’t afford everything they desire. What we may be seeing here is the beginning of a shift in the fundamental dynamics of consumer culture.
Consumer culture has for decades been fueled by entitlement – purchases made based on what consumers believe they deserve, not just what they can afford. The idea has been prominent in the past decade when easy credit artificially inflated aspirations. Want a new car or a bigger house? Well, you deserve it.
This attitude is probably more entrenched among older Baby Boomers who have enjoyed smooth sledding, economically speaking, through much of their life. (The survey, in fact, points out that those 55-plus were somewhat more likely to blame the advertising business than their younger counterparts.)
Setting aside the question of blame, there’s a notable undercurrent of realism here. It indicates Americans may be coming to grips with the idea that feeling entitled to something is not sufficient rationale for purchasing it.
If this proves to be the case, we really will see a New Normal in the years ahead as it pertains to consumer purchases.
