Recession Has Led To Shift In Consumer Values, Spending Behavior

The “great recession” has driven many Americans to reassess their values and priorities and shift their spending to support more meaningful lifestyles and companies that share their values, according to research from Young & Rubicam. The author and colleagues drew their conclusions from internal data and from interviews with Americans from all walks of life. Their data indicated that Americans were uneasy with the consumerist lifestyle before the recession. And now, with less money to spend, 55 percent said they are returning to traditional ideals like “self-reliance, thrift, faith, creativity, hard work and community.” Americans use their purchases as a form of vote for a simpler lifestyle and for companies who share their ideals. Seventy-one percent said they patronize companies with similar values; 66 percent shun incompatible ones.