Adweek Reports Frugality Is Cool
An article in the July 6 Adweek caught my eye with the clever headline "Frugality Is the New Black." Here are a couple quotes from the article that sum up its premise: "Parents and families are shifting to a new value system where keeping up with the Joneses is out and teaching the kids about responsible spending is in." Also in ". . . putting brands' feet to the fire and demanding they prove their worth to consumers who increasingly buy generic products in a hunt for deals."
One of the "consumer context planning" experts (I love that title!) commenting in the article said that brands have to understand that the consumer need vs. want mind-set is changing - fast. Brands need to (re)earn their place at the table. How?
· By understanding their targets
· By providing value
· By demonstrating the fundamental benefits they offer consumers
Many food and beverage companies have zeroed in on moms - gatekeepers of the cupboard and of family health - as a primary target. For this audience, healthful products and/or healthful ways to use products create value and deliver real benefits. Evidence - like that collected by the American Dietetic Association's Evidence Library and through food companies' own research, which often is not fully mined - is fundamental to successfully positioning nutrition as a benefit. If frugality is cool, nutrient-rich food is a good place to invest.


