Retailing Initiative

On the other hand, Stephen Hoch, professor of Marketing of Wharton, think that the consumer works now with a new logic. " Until recently, there was an idea of merit to which the people encariaban" , he says. One was an idea constructed on the belief that the consumer worked hard and, therefore, had the right to enjoy the best thing to compensate the time and the energy that dedicated to make money. The professionals of marketing of luxury goods promoted the subject of " merecimiento" with much vehemence, although today they have left practically the subject. The consumer who learned to buy more expensive products at times of prosperity, now is learning to buy cheaper products, adds Hoch. They have realized of which they were spending expensive money in products and services when there was cheaper alternatives with little real loss of quality or satisfaction. Many consumers are sorry to have so many expenses.

Today, they are discovering a new sense of well-being in that more demanding attitude. " The value of the things will become an element importante&quot more and more; , Hoch says. " The people are going to perceive that one is an attitude inteligente". Very interesting it is the contribution on this new reality that indicates Erin Armendinger, managing director of the Project of Commerce Jay H. Baker de Wharton Jay H. Baker Retailing Initiative, says, that to the people " they have really changed after which she has happened. I do not believe that they return to spend like before, at least not at the moment ". The consumer, adds, has cut drastically the expenses, not because he wanted, but because the credit managers of credit cards and other institutions retired endorsement that they gave to the consumption celebration that fed the present financial collapse. The interruption of the expansion of the credit has been a hard blow for the consumer, who has been itself forced to back down and to revalue his attitude in relation to the expenses that did.



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