Desire, not necessity, drives spending.
Position | Consumerism - Brief Article - Statistical Data Included |
Ever since the government began tracking statistics, the U.S. economy has been a consumer one. Every year since 1929 until the present, with a few exceptions, consumer spending has accounted for between 60 and 70% of the total economy. Out of America's 10 trillion-dollar economy, two-thirds, or 6.6 trillion, is consumer spending. About 40% of that, or three trillion, is spending on discretionary products and services. "Consumers today spend proportionately less on basic necessities, such as food, clothing, and shelter, than they did 25, 35, or even 50 years ago. But they spend more and more money on discretionary purchases that are motivated by emotion and desire," explains Pam Danziger, president of Unity Marketing and author of Why People Buy Things They Don't Need.
She advocates that marketers and retailers should move beyond the rationally oriented features and benefits of products and services, and instead focus on the emotional satisfactions that drive consumer spending. "Brands with life and vibrancy that really speak to the consumer do so on an emotional plane. By uncovering the interior emotional life of the consumer, you can devise marketing strategies, competitively position products, and craft persuasive advertising messages. In essence, the `why people buy' defines the brand."
Danziger suggests that there are 14 different "justifiers" that explain the underlying motivations driving consumer purchases. "These justifiers, such as pleasure, stress...
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