Wednesday, March 4, 2009

Cheap Is Chic In More Ways Than One!

I always get a kick out of the content of our local business rag here in Atlanta.

The articles now seem to fall in two buckets…one termed the “Gloom and Doom” of business closures and lay-offs and another termed “Retro Spotlights” that highlights the “good ole boy” leadership relics that are grasping to hold onto past titles and accolades.

But perhaps the biggest laugh I got out or this week’s issue is a page featuring lease programs on top luxury cars.

One of those ads featured a “special discount rate” of $949 per month for a Jaguar sports car.

That just kind of confirms where many of the conventional business mindsets reside.

Either that, or it showcases a strong stage of denial in the midst of change.

Whatever the case…that kind of thinking is now history!

Spending frivolously is OUT and CHEAP CHIC is in!

This morning’s posting on CNN.com contained an article that caught my attention.

The title: “In A Recession, Cheap is Chic.”

It has some great observations in it…

Like…”During a deepening recession, conspicuous consumption is out and frugality is the new black.”

Like…”Now what’s chic is being the most knowledgeable and efficient at saving money.”

And also…”Consumers are now focusing on how to live like a king without having to spend a king’s ransom!”

This article even has a couple of cool terms…

One is “economize” that describes the way people shop today.

The second is “in-sourcing” versus “out-sourcing” – a term that our local Atlanta talk radio star Clark Howard recently coined in one of his afternoon shows.

As Clark Howard says… “People had their collection of ‘mys’ like my massage therapist, my yard person, my hairdresser…now people are really stepping back from that and saying ‘if I cut my own yard, I am going to have that $60 in my pocket.’”

I’m into “in-sourcing”!

I now clean my house, make my lunches and go out and get my own office supplies… and believe it or not… doing those things saves me more than $500 every month!

What’s interesting is that CHEAP CHIC may not just be a recessionary trend.

When websites like Expedia replaced travel agencies, it wasn’t flying first class that was cool…it was flying first class and doing so with a 70% discount!

While Budget Living Magazine died a couple of years ago…it came into being back in the days when the Dow Industrial was posting over 12,000 – remember back then?

While ReadyMade Magazine circulation has increased during the recession, it became a Millennial Generation cultural Icon 37 issues ago.

And HGTV premiered Design On A Dime back in 2006…long before the layoff run.

And then there’s Target’s “Expect More. Pay Less.” campaign that has been part of our brand mindset now for more than 10 years!

CHEAP CHIC is as much a part of the Millennial Generation as the PEACE SIGN is an icon of the Boomer Generation.

What does this mean for your brand?

Rule #1 – Just being cheap doesn’t make something CHIC!

Rule #2 – No matter how bad the economy gets, there will always be inventors, innovators and trendsetters.

Rule #3 –Facebook, Twitter, Bebo, Friendster and YouTube are primary forums where what’s chic is being defined.

Yeah… you can go to those ad agencies and PR groups to get assistance and advice…

But certainly at those prices, the advice is not what is CHIC today!

Call us… We are CHEAP… And with us, you can not only Journey forward with your brand… you can be CHIC in doing so!

Cool?

Cool.

AND HERE'S AN UPDATE JUST POSTED ON CNN.com ONLINE SURVEY...

QUESTION: When you shop at discount stores or purchase a knock off...74% "Brag about the great find!"...and only 6% "Hide the shame of buying cheap"

No comments: