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Book Review: “Consumed – Rethinking Business in the Era of Mindful Spending” by Andrew Benett & Ann O’Reilly

Even though the global economy continues to recover (slowly…. ) from a near melt-down, I’ve noticed some of my personal buying and spending habits change.  

And I am seeing and listening to more and more of my friends and professional peers re-thinking how and what they buy and what is important in how and where they buy from.  

To better understand this global transformation, Andrew Benett and Ann O’Reilly launched a ground breaking study on the “New Consumer,” and what it means to marketers.  Their study showed that:

–  A significant majority in the seven markets they studied were deeply worried about our consumption-based society.

–  Two-thirds believe they would be better off if they lived more simply, and a quarters said they would be happier if they owned less.

– Half of the Americans surveyed derive a sense of satisfaction from reducing purchases during the downturn, and three-quarters feel good about cutting back on the amount of waste they consume.

– A majority of Americans have no intention of going back to their old shopping patterns, even when the economy returns.

 “Consumed – Rethinking Business in the Era of Mindful Spending,”  is a great book that is not only good for grown-ups, but for teens and young adults.  

I’ve noticed my own personal spending habits change over the last two years, and frankly, I think there are hidden blessings in this whole economic maelstrom that we’ve been though.  

How about you?  Have you changed the way you buy and shop?  And if so, how?

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