New USA consumer:Recession changed the habit

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United state of America which has estimated population for (2010) 30,89,57000 and playing in dollar with power now a day trying to overcome from recession. In this post particularly I will talk about "How recession has changed consumer behavior of America. A country where mostly people were totally brand conscious and habitual of luxuries products.

Pre-Recession consumer- If we compare pre-recession consumer behavior of this country and post-recession that would be totally different. According to survey, data say Initially 61 percents US consumers which had credit card spending more than $1000. 41 percents consumers were spending more than they earned. They were totally conscious towards premium and luxury product.

During recession- Let's talk what they were doing when entire country were suffering from recession. If we look at data you will believe that how this paradigm shift is happening. Mostly people stopped buying which they can't eat. I will give you one example initially they used to purchase pizza by home delivery amount of $20 but during recession they felt why they should take home delivery. realty is this if they purchase same pizza from store they can save $15. so, this thing very quickly set in his mind that how to save money and get same product. Necessity Vs Luxury this word has emerge very roughly during recession. their mind has been set that If we are getting same value from product which we earlier purchased at high price. they all becoming habitual of private label brand, during this period marketers has seen drastic increase in private label brands.

Post recession consumer - Now, this is very tough time for marketer or company which is operating in this market because consumers has shifted towards value for money mode. they are totally depend on discount store which gives premium products. example- Wal-mart, Target, Costco. Online consumer has grown very dramatically. According to survey result, data says 90 percents respondents are saying they will use same buying habit which gives him/her saving for future and they also said they are paying more concentration towards online shopping. Question here arises does it continue????????
Answer is yes, except some products like healthy and organic product, online customer will grow continue and most important frugal consumer will emerge. private label branding grow continue, discounted brand will increase.

What company should do??????????????
Lets pay attention towards data right now I have written that consumers are moving towards save of money because data says in next 10 years saving rate may reach 10 percent from almost negative growth. so. company need to fetch money from that saving. company should pay attention towards online shopping.
Again I say after sometimes you cannot find much difference between Indian consumer and other developed countries consumers.

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