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The Consumer Reset

SpecialChem / Karen Young – Jun 2, 2010

What does the post recession beauty consumer in North American look like? Today's consumer is emerging from the recession with a radically new definition of the American Dream and a renewed awareness of her own resourcefulness and priorities, according to a new study by Ogilvy & Mather in partnership with Communispace. Among the study's key findings is that "having it all" is an unrealistic goal, with 75% of those surveyed saying they would rather get out of the rat race than climb the corporate ladder. Instead, 76% said they would rather spend more time with family than make more money. In fact, the recession has revealed important new consumer priorities with quality of life and peace of mind at the top and a focus on living life in a more sustainable way both from an environmental and financial point of view. Everyone agrees the consumer trade down of the past 2 years will be with us for a long time. Consumers moved to private label and mass products (60%) and are very happy with those choices. They are buying less, using credit cards less, shopping price, clipping coupons and doing more themselves (fewer visits to the hair salon, manicurist and spa)...

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