Posts Tagged ‘Income’

May 2, 2011 – #9

The Wall Street Journal’s coverage of the royal wedding as a step toward repairing England’s official family business in an uncertain world could be called “Royals, they’re just like us”.  Stateside, nothing captures our nationwide anxiety as much as our worries about jobs and the role of work in our lives.

 

Our just-in 2011 SCAN findings show the depth and breadth of our concern:

A before & after look (2007, prior to the Great Recession vs. 2011, in the aftermath) confirms that the trend toward uneasiness about jobs continues.

Among employed adults, almost half strongly agree that “If I lost my job, it would be hard for me to get one as good as the one I have now.”

And just as telling, the idea that a job should be about more than money has taken a hit from the values-altering recession. Significantly fewer Americans agree that “No matter how much a job pays, it’s no good if it doesn’t provide personal gratification” – down 10 points from 61% to 51% since 2007.

Even as economists tell us we’re technically beyond the recession, the psychological (as well as real economic) scars remain, affecting every aspect of how consumers think, dream, and buy.

Business Implications: Consumers in the Great Aftermath, at every income level, think differently about money and spending now. Even luxury buyers who are spending again are doing it with a new restraint – or at least an awareness of the value in the “appearance of restraint” and smart spending. Widespread consumer aversion to risk is good news for brands that stand for trust and true quality.

Comments, questions, or just want to discuss this topic? Call or e-mail us anytime.