An article today in the Globe & Mail Report on Business Section listed some consumer trends to watch in 2011...A few of them I thought were especially interesting:
1. Urbanization: Every day 180,000 people move into cities around the world (I am a life long urbanite who only fantasizes about living off grid in the country)! People who live in cities tend to be more liberal (check), more likely to try out new products (check), and more tolerant (double check).
2. Owner-less society: Sorry Pres. Bush but the ownership society was a lousy, short-sighted idea that has thankfully gone by the wayside. Turns out that more and more consumers are happy to rent and/or share products, real estate, cars. Owning, especially when debt is required, is too onerous and burdensome as many of us have found! It has definitely been a trap for the baby-boomer generation - my parents dreamed of getting a credit card when they were broke and in their 20s and they are suffering under a mountain of consumer debt now that they are retired and in their 60s - me and my husband have previously felt the agony of a mortgage, 4 car leases, student loans, and business loans and have sworn ourselves to a life without debt - renting and sharing is the new way to consume that may finally work well for consumers!
3. Pursue big ideas! I like that! But how do you know your idea is big...I'm still working on that!
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