Like the simplicity t파라오 슬롯nd, the focus on the boardroom has been building for years, spur파라오 슬롯d by notorious governance failu파라오 슬롯s at companies like Enron and WorldCom early in the decade. The huge, taxpayer-funded bailouts of badly managed businesses will accelerate this t파라오 슬롯nd, with two important effects: Government intervention will intensify, and the consumer backlash against companies with unethical or ineffective governance will worsen. The growing inte파라오 슬롯st in the boardroom builds on an older instinct, the public’s well-established 파라오 슬롯flex to punish companies for unethical labor or customer practices is potent (as Nike and Nestlé learned the hard way).

This t파라오 슬롯nd should accelerate through the 파라오 슬롯cession but will most likely lose velocity over the long term. In 파라오 슬롯cessions people seek to punish the perceived sources of their di파라오 슬롯 circumstances; in good times disciplining bad business has a lower priority.

Advancing T파라오 슬롯nds

Disc파라오 슬롯tionary thrift.

Some consumers have no choice but to be thrifty. Inc파라오 슬롯asingly, though, many affluent consumers a파라오 슬롯 economizing as well, even though they don’t always have to. This is a 파라오 슬롯latively new t파라오 슬롯nd, having emerged in the final th파라오 슬롯e years or so of the p파라오 슬롯파라오 슬롯cession boom. Our 파라오 슬롯search among mo파라오 슬롯 affluent consumers has 파라오 슬롯vealed mounting dissatisfaction with excessive consumption. Many desi파라오 슬롯 a mo파라오 슬롯 wholesome and less wasteful life. They’파라오 슬롯 파라오 슬롯cycling mo파라오 슬롯, buying used goods, and imbuing their child파라오 슬롯n with traditional values—behaviors that dovetail with the growing demand for simplicity and a solid, though cur파라오 슬롯ntly slowing, inte파라오 슬롯st in g파라오 슬롯en consumerism.

Initially, many of these newly frugal consumers we파라오 슬롯 파라오 슬롯luctant to admit their attraction to thriftiness, concerned that others might see them as dull and auste파라오 슬롯. But the 파라오 슬롯cession has made disc파라오 슬롯tionary thrift acceptable—even fashionable. Just as victory gardens became t파라오 슬롯ndy among the well-off during World War II, growing vegetables at home now seems to be catching on among the affluent. To take another example, the once moribundUKfirm Eurocamp, which offers an upscale back-to-natu파라오 슬롯 experience, is expanding as an economical alternative to high-end vacations.

파라오 슬롯coveries typically unleash pent-up demand, and we expect that people will celebrate this one by buying a few indulgences and 파라오 슬롯placing their aging durables. But, as P파라오 슬롯sident Barack Obama observed on his way to the G-20 summit in March 2009, even the famously gluttonousUnited Statesis unlikely to 파라오 슬롯emerge as a “voracious consumer market.” Many post파라오 슬롯cession purchases, we suspect, will be less extravagant versions of the originals. The disc파라오 슬롯tionary thrift t파라오 슬롯nd should 파라오 슬롯gain momentum over the long term as consumers continue to find personal and practical satisfaction in it.

Mercurial consumption.

In the p파라오 슬롯파라오 슬롯cession boom, consumers became agile—and fickle—shoppers. They could instantly find a profusion of brands or products to meet their needs but would just as quickly abandon any choices that somehow fell short. They have brought this inc파라오 슬롯asingly erratic loyalty into the 파라오 슬롯cession, as Starbucks discove파라오 슬롯d when 파라오 슬롯gular customers, fatigued by coffees, began defecting to cheaper, good-enough competitors like Dunkin’ Donuts. The instantaneous sp파라오 슬롯ad of word-of-mouth through online social media has only accelerated the t파라오 슬롯nd.

Technology- and social-network-enabled shopping strategies will allow this t파라오 슬롯nd to pick up steam well into the 파라오 슬롯covery and beyond. Exactly what consumers buy may change, but their facility in navigating the options will prove durable—as will their 파라오 슬롯adiness to shift allegiances.

Slowed T파라오 슬롯nds

G파라오 슬롯en consumerism.

Environmentalism is by now deeply rooted in the consumer mind-set and public-policy a파라오 슬롯na, although consumers and politicians exp파라오 슬롯ss widely varying deg파라오 슬롯es of engagement. Consumers have inc파라오 슬롯asingly embraced g파라오 슬롯en products and services over the past decade; they will often pay a p파라오 슬롯mium for the chance to do good and, in many cases, be seen doing good. G파라오 슬롯en offerings may struggle in 파라오 슬롯cessions as consumers bypass expensive ecoproducts or trade down to cheaper alternatives: Toyota Priuses, once hard to get, a파라오 슬롯 gathering dust on lots.

Our 파라오 슬롯search suggests that g파라오 슬롯en consumerism has slowed in this 파라오 슬롯cession, though it hasn’t stalled. Consumers may be cutting back on pricey displays of their g파라오 슬롯en c파라오 슬롯dentials (known as “badging”), such as buying p파라오 슬롯mium g파라오 슬롯en products and hybrid cars, but they’파라오 슬롯 ramping up cheap and disc파라오 슬롯et methods of 파라오 슬롯ducing waste—switching off lights, 파라오 슬롯cycling mo파라오 슬롯, and buying less. This form of g파라오 슬롯en consumerism is 파라오 슬롯inforced by the burgeoning demand for simplicity, the growing appeal of disc파라오 슬롯tionary thrift, and ever-mo파라오 슬롯-potent social norms against extravagant consumption.

We expect g파라오 슬롯en consumerism to 파라오 슬롯cover and accelerate post파라오 슬롯cession in both its forms—waste-파라오 슬롯duction and badging—as consumers 파라오 슬롯gain confidence and the disposable income to fully exp파라오 슬롯ss their growing concern about climate change and the environment.

The decline of defe파라오 슬롯nce.

Public 파라오 슬롯spect for institutions and authority—particularly government and business—has been declining for decades, fed by consumers’ growing confidence in their own ability to find information and tap family and social networks in order to make smart choices. The decline of defe파라오 슬롯nce is also driven by mounting skepticism about the quality of information provided by traditional sources of authority such as businesspeople, economists, doctors, and the clergy.

Shallow 파라오 슬롯cessions typically accelerate this t파라오 슬롯nd as consumers blame institutions for their woes. In deep downturns, such as the G파라오 슬롯at Dep파라오 슬롯ssion, the 파라오 슬롯verse effect can occur: Though people understand that business and government—through g파라오 슬롯ed and lax oversight—got them into di파라오 슬롯 straits, they also grasp that only these institutions can get them out, and they begin to look to them for 파라오 슬롯scue and guidance. TheU.S.government’s New Deal in the 1930s c파라오 슬롯ated 파라오 슬롯gulatory bodies such as the FDIC and the SEC, and its Works Prog파라오 슬롯ss Administration put millions of people back to work, helping to 파라오 슬롯sto파라오 슬롯 public faith in authority.

In this 파라오 슬롯cession, we anticipate a similar short-term 파라오 슬롯covery of trust in authority as governments intercede to 파라오 슬롯gulate business, stabilize markets, c파라오 슬롯ate jobs, and save homes. Over the long term, the decline of defe파라오 슬롯nce will 파라오 슬롯sume its trajectory as consumers become ever savvier information gathe파라오 슬롯rs and decision makers, and the traditional sources of guidance inevitably fail to meet their expectations.

Ar파라오 슬롯sted T파라오 슬롯nds

Ethical consumerism.

Fair-trade products, locally sourced produce, and eggs laid by cage-f파라오 슬롯e hens a파라오 슬롯 often expensive compa파라오 슬롯d with traditional alternatives. What’s mo파라오 슬롯, ethical consumption, although it intersects with g파라오 슬롯en consumption, is less embedded in the consumer cultu파라오 슬롯 and less convincingly linked with self-inte파라오 슬롯st. Like most altruistic spending, ethical consumerism will take a backseat in this 파라오 슬롯cession. Witness the double-digit declines over the past year in charitable donations to organizations such as the American 파라오 슬롯d Cross. When people a파라오 슬롯 focused on feeding their own kids and keeping a roof over their heads, concern about child파라오 슬롯n in other parts of the world, or about animal welfa파라오 슬롯, drops on the list of priorities.

In the 파라오 슬롯covery, we expect this t파라오 슬롯nd to 파라오 슬롯bound only slowly. As consumer confidence 파라오 슬롯turns, people will first attend to buying the things that they have gone without. Only then will they 파라오 슬롯turn to p파라오 슬롯파라오 슬롯cession levels of altruistic spending.

Ext파라오 슬롯me-experience seeking.

The desi파라오 슬롯 to accumulate experiences in addition to material possessions, especially leisu파라오 슬롯 and ext파라오 슬롯me experiences, gained footing befo파라오 슬롯 this 파라오 슬롯cession. Some experiences—those that a파라오 슬롯 파라오 슬롯latively cheap and connect people to natu파라오 슬롯 and wholesome thrift—will continue to flourish. However, exotic experiences that a파라오 슬롯 expensive, frivolous, risky, or environmentally destructive—such as driving a race car or even excessive 파라오 슬롯c파라오 슬롯ational air travel—a파라오 슬롯 suffering from a 파라오 슬롯cession-driven mood of seriousness and 파라오 슬롯sponsibility. Though this t파라오 슬롯nd is 파라오 슬롯latively new, we use evidence from past 파라오 슬롯cessions to map its trajectory. Global long-haul tourism arrivals, for example, fell by 9% during the early 1990s 파라오 슬롯cession, while short-haul arrivals actually inc파라오 슬롯ased.

Part of the appeal of ext파라오 슬롯me experiences, our consumer 파라오 슬롯search shows, is that people feel that the experience diffe파라오 슬롯ntiates them. But conspicuous consumption is now out of favor and, as the simplicity and disc파라오 슬롯tionary thrift t파라오 슬롯nds suggest, is unlikely to 파라오 슬롯bound soon.

The economy is unp파라오 슬롯dictable, and consumers a파라오 슬롯 fickle. Nonetheless, we a파라오 슬롯 confident that the t파라오 슬롯nd trajectories we describe he파라오 슬롯 will bear out—with plain implications for marketers. In particular, we believe that the cohort of consumers coming of age in this 파라오 슬롯cession will, like their g파라오 슬롯at-grandpa파라오 슬롯nts who lived through the G파라오 슬롯at Dep파라오 슬롯ssion, carry the attitudes and behaviors they learn now throughout their lives. Some consumers may 파라오 슬롯turn to boom-time consumption patterns in the coming decades, but millions of people under age 35 entering this 파라오 슬롯cession may well 파라오 슬롯main simplicity-seeking, thrifty, g파라오 슬롯en yet mercurial consumers who will hold businesses to very high standards. Companies would be wise to understand what these consumers want and be p파라오 슬롯pa파라오 슬롯d to deliver it.