There is growing evidence that consumers are becoming less interested in conspicuous consumption. From Millennials, who are (sometimes unwillingly) slow to launch their own independent households to Baby Boomers who are downsizing into smaller, more urban locations to the growing impact of Mari Kondo’s KonMari method of decluttering - living with less is an important new cultural trend.
Coupled with this trend away from consumption of stuff is the trend toward using our time and money for Experiences. You can look to social media - when was the last time a friend shared an image of a new purchase, such as a car or house? Yet our newsfeeds are full of pictures of exotic trips, restaurant visits, concerts and sporting events.
The new campaign from Groupon highlights this insight. The TV ads compare the “Haves” and their mansions full of gaudy stuffy and the “Have-Dones” who are engaged in life through experiences like sky-diving, dining out, getting spa treatments or visiting a fun-park. In a press release for the campaign launch, Vinayak Hegde, Groupon’s CMO highlighted that this new focus is based on research findings that experiences been scientifically proven to make consumers happier.
Two immediate takeaways from the new campaign:
Cheryl A. Seraile is a Brand Marketing Maven, with a passion for uncovering new trends and insights about consumers, demographics, culture and the world.