For its part, Stephen Hoch, Marketing Professor, Wharton, believes that the consumer is now working with a new logic. Until recently, there was an idea of merit that people encarinaban, he says. It was an idea built on the belief that consumers worked hard, and therefore had the right to enjoy the best to compensate for the time and energy devoted to making money. Luxury goods marketing professionals have promoted the issue of merit with much vehemence, although today have left practically the matter. Consumers who learnt to buy more expensive products in times of prosperity, is now learning to buy cheaper products, adds Hoch. Have realized that were spending money on products and services expensive when there were cheaper alternatives with little real loss of quality or satisfaction.
Many consumers regret having so many expenses. Today, they are discovering a new sense of well-being in this more demanding attitude. The value of things will become an increasingly important element, says Hoch. People will see that this is a smart attitude. Very interesting is the contribution on this new reality that says Erin Armendinger, Managing Director of the project of trade Jay H.
Baker of Wharton Jay H. Baker Retailing Initiative, he says, that people have really changed after what has happened. I don’t think again to spend as before, at least not at the moment. Consumer, she adds, has drastically cut costs, not because I want to, but because the managers of credit cards and other lending institutions withdrew the endorsement that gave to the feast of consumption that fueled the current financial collapse. The interruption of the credit expansion has been a blow to the consumer, who has been forced to retreat and to revalue their attitude in relationship to expenditures made. In the future, consumers will learn that it is important to understand the value of goods and services, she says, and cites as an example of this new attitude signature shoes.