In times of economic crisis, consumers buy products or experiences to disrupt the present and pretend they are in another context than the one causing hardships. Status triggers a set of emotions, such as pride and satisfaction, and consumers frequently buy objects to reflect these emotions and communicate them to their peers. When consumers face economic uncertainty they want to keep small pleasures despite their economic situation demanding prudence in spending. In 2009, during the subprime crisis, full service restaurant sales grew 9.2 percent in Peru, a much faster rate than in previous years while the country´s GDP grew by only 1.0 percent.
Download this white paper now to find out:
• Which categories offer companies the opportunity to benefit from consumer short-termism in emerging countries?
• Where can one bet on indulgence and pleasure, and where on rationality and calculation?
• Is nostalgia a powerful driver to boost sales of a product?
