A trend noted by the Marketing department of the Harvard School of Business says that a new class of consumer will slow the economy down further. Unlike the go go days of the late 90's and 2000's of buying large screen TVs, SUVs and oversized houses for three families when only a couple lived there, that era is now coming to an end. One new consumer type is being called a "Simplifier" and they are turned off by the old marketing messages of buy more.
They no longer listen to the song about more material stuff but want more experiences, education, health care, and social. They feel they already have ENOUGH stuff.
The uniqueness of having Hummers when all their neighbors drive them means nothing as far as status goes anymore.
Other trends now include leasing cars, renting vacation homes, and they can outsource some of their lifestyle.
So out with the SUVs. Sell them off if you can. Downsize the large homes where you are heating rooms with no one using them or with scattered geographically family with no one visiting. The trend now is to have a more stylish, intimate home and not a big box. The Simplifiers have mastered getting rid of their junk with the likes of using the Internet and eBay. By pulling in the reins on their spending this class of consumer while satisfying their own lifestyle needs does not help the overall economy grow.
It is a dilemma for those trying to move people up to larger houses as their wealth increases when now they don't care. And of course with the stock market woes, that wealth increasing is not a given for many nowadays. Be aware of these mid lifers and their shifting lifestyle priorities.
