RESOURCES · E-NEWSLETTERS · THINK · OCTOBER 2005
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THE YIN AND YANG OF HAPPINESSThe Trend: People seek a balance between overt materialism and internal value systems. Why: The reason for wanting this balance may seem obvious, but there have been spans of time (think '80s) when internal happiness was tied directly to external perception — an "I look, therefore I am" attitude. The balance that seems to be taking shape now is one that begins with the internal and is supported by the external. That's a huge shift. We are recognizing the emotional and financial dangers associated with being driven primarily by materialistic attitudes and an obsession with living in excess. We may be starting to believe that money really can't buy happiness. While we are still interested in a high standard of living, we are increasingly focused on quality of life, rather than on possessions, to uphold this standard. We are making decisions based on what makes us feel good, deep down, rather than simply the image we're conveying through our possessions. For many of us, this is a transition from a superficial way of life to one that is more in line with our values. This involves spending more time with family, living a healthier lifestyle, and having greater concern for environmental protection and cultural issues. Opportunities: More is not necessarily better, but it's hard to abstain from consuming and wanting—especially if the consumption can support our internal values. We want to feel good about our purchases, and feel as if they align with our values. The number of people making these kinds of value alignment purchase decisions is significant. In 2003, the Natural Marketing Institute estimated that 68 million Americans (about 33% of the adult population) qualified as the kind of people who consider environmental and social issues when they make purchases. Wild Oats Markets, Inc. was able to recognize and capitalize on this opportunity. Starting with one store in Colorado, Wild Oats now has 108 stores and is the #3 natural food supermarket chain in the United States. People are attracted to Wild Oats because it provides a healthy, environment-friendly alternative to traditional grocery stores. Wild Oats offers us an opportunity to shop at a trendy grocery store (that looks good to others) while supporting our environmental concern values (that feels good to us) – a perfect example of the internal/external balancing act we're all searching for. Challenges: Balancing these new attitudes with the materialistic attitudes that are still prevalent may be a challenge. While an increasing number of us are shifting our lifestyles away from materialism, many of us are still inclined to purchase and consume in excess. The key is to capture the key trend (as did Wild Oats) and fulfill the needs of both audiences, one trying to move away from materialism and the other still motivated by it. |
