Changing consumer behavior is largely attributed to new consumer values. The emerging narrative is literally taking over the conversation between consumers and corporations trying to grab their attention. We are all familiar with the issues. Green, sustainable, community, connection, awareness, globalism, etc. It seems that we can all congratulate ourselves for being a more enlightened people, but I have a hard time swallowing it.
What are these new values and how do they really relate to how we spend our money and build brand loyalty? I believe that values are self-defined and self-provided virtues that we use to positively interpret our own behavior. Badges, so to speak, invented by our aspirations and pinned, by our egos, to our identities where they shine for all the world to see. The gap between the energy we are willing to invest in defending our values and the effort we actually make to employ them is so wide that it makes it clear that values are deeply important to us and, at the same time, totally optional from a point of view. from a practical point of view. They are permissive and do not meet the performance requirements of, say, principles that must always apply to be true. On a list of needs and wants, values would fall in the “nice to have” section.
By way of illustration, as if a good look at our entire personal lives weren’t enough, consider how entranced we are with stories of self-sacrifice and great deeds. This is because they are heroic stories of values that are actually imposed on self-interest and that is really rare. Values allow us to interpret our selfish behavior positively, so it’s no surprise that they’ve come to dominate the narrative between business and consumer. What is surprising, however, is that more people fail to recognize that this narrative is something of a “tea party conversation” that sidesteps the real, albeit less flattering, motivations behind our choices. That doesn’t make the narrative any less useful when it comes to branding, marketing, and communications in general, but it does mean that it’s only part of the picture. It makes sense for corporations to fill in the blanks if they want to address the real concerns and motivations of their customers.
So what are consumers experiencing right now? How do you feel and what are your new values an expression of? What do they need or want to hear from companies to address the news of their lives in these highly volatile and transitional times? There are no definitive answers to these questions, but they are the questions that companies need to ask themselves if they want to engage in the values narrative with consumers in a way that also connects with their strongest, most basic motivations.
I think all the values that are emerging are ultimately based on a sense of uncertainty across the country. To put it bluntly; Fear. Fear of what exactly? Very simplified; fear of scarcity and fear of threat. Scarcity (or the recognition of it, despite being the first law of economics, has recently appeared in the American consumer psyche. For the first time we are realizing that our consumption habits are unsustainable and do not support our long-term, or even a kind of term, well-being Realization did not come in the form of enlightenment, but in the rising cost of food, fuel, housing, etc. The impact of climate change, water and air pollution, and the The increasing prevalence of things like asthma, autism, allergies, etc. in our children has strengthened our understanding of the concept of scarcity. Our rational response is to conserve and ration. The value system that validates that behavior is environmentalism and sustainability. Values are very real but they are not our main motivator We have, on a much more primitive level, fear of being without the things we trust.
The second set of values are based on a response to perceived threat. A convergence of events has left us feeling exposed and vulnerable. We have been attacked and have lost our sense of security within our borders. We have had to give up moral superiority and have seen our economic superiority threatened by the rise of India and China. Our economy went from very strong to very weak in an extraordinarily short period of time, to the very real economic harm of millions of Americans. Our once again entirely rational response is to develop a kind of wartime mentality. Get together and form communities. Be more tolerant and less arrogant with our neighbors whose strength is growing relative to ours. The main motivator is fear and the value system it represents has to do with relationships, commitment, diplomacy, tolerance, community, connection and globalization. Probably the best expression of this change is the election of Barack Obama as president. We cast aside old prejudices and a value system structured around superiority and replace it with one that is better suited to conditions over which we have no control and no choice but to adapt.
So, in conclusion, I would suggest that changing consumer values are the symptom and not the cause of changing economic, social, and environmental conditions. Corporations seeking to connect with consumers today must absolutely engage in the values narrative, but they must do so with the understanding that it is the result of what amounts to fear and insecurity. How do you talk to a fearful and insecure consumer? You have the conversation with them about the values they want to have because it makes them feel comfortable and virtuous. It also acknowledges, explicitly or implicitly, the reality of your experience and the challenges you face. Without that, the narrative around values remains vaguely insubstantial and somehow fails to get to the heart of the matter.