Posts Tagged ‘Thrift’

The Richer Life is Here to Stay

February 11, 2013 – Digit #2

What Monopoly cats and dogs say about post-recession America

Every now and then a small thing happens in our culture that reminds us of the big things propelling change in our lives and the marketplace. And so it was when the new cat and old favorite Scottie dog gamepieces ran away with the Facebook vote for Monopoly tokens.

(In case you missed the buzz: Scottie received the most votes for staying in the current line-up of eight tokens. The poor old iron was voted off Monopoly island and replaced with a cat.)

Putting aside the obvious that in Facebook voting, cats are unbeatable, the token dust-up did reflect something bigger. The larger takeaway? Some reactions to the recession have become part of the American persona and are here to stay. One of those is what we call The Richer Life (instead of a life of riches).

What matters in our “Richer Life” culture…

Only buying or doing what meets the bar of “worth it” – whether that means worth our money or our time.

  • The Monopoly iron never had a chance.  Almost no one sees ironing as “worth it”… too much time, too little – or zero – richness…and too costly to have it all done at the dry cleaners.  (90% of customers at Brooks Brothers, that bastion of traditionalism, now buy the no-iron version of Brooks’ classic shirt)

Surrounding ourselves with a loving circle of friends and family – and that includes our pets.

  • 74% of us say “loving” describes us very well/perfectly
  • “Having a happy, loving relationship” with spouse/family is a leading definition of success
  • And 9 in 10 adults consider their dogs and cats members of the family; 81% say they’re equal members

Who knew a game with the left brain name Monopoly could reveal the softer side of the American psyche?

Business Implications: The recession may be receding in our rearview mirrors, but consumers have decided The Richer Life is working for them.  And they’re looking for brands that give them both sides of that life:  the pragmatic (only what’s “worth it”) and the emotional (brand love…for something that facilitates the love in their lives).  Now it’s that simple – and that high a bar.