Value Shopping Doesn’t Mean Buying Cheap – A Cultural Shift To Quality

I’ve been mulling over the vast change in consumer behavior over the last few months. (The mulling has been only going on for a few days- the consumer behavior change it seems has been happening for awhile.)

As an early adopter of this change, about a year ago I started closing my purse strings. Further back I became a big fan of buying a few quality items rather than hoards of expensive ones; buying at second hand stores and hunting out used classics (wooden toys, cast iron skillets, etc.) This evolution from big spender to came about as I became more and more involved in the green movement.

I became an avid Freecycle and Craigslist user. I switched from paper to cloth for napkins, paper towels and even wrapping paper. More recently, as the economy shudders, I’ve realized the cost savings apparent in cooking at home- not to mention the better quality ingredients I use. And I’ve started shunning processed foods. First because it’s greener and healthier not to and frankly because fresh, seasonal foods taste better.

I’ve become a localvore, a freecycler, a reuser and a quality shopper. I buy based on need, not want. I share tips and look for deals.

A year ago, I happily read A Year without Made in China and wondered how in the world that was accomplished. Now, I find it quite easy to avoid cheap imports. I look for quality.

And, I suspect, I am not alone. In a bad economy, consumers scrimp and save and make do. But they also shop. They shop differently. Of course, they trade down. A trip to Nordstrom’s is replaced by a trip to Target. But even there, consumers are looking at their purchases a bit differently.

Finally, the best buy for the money doesn’t mean the cheapest. It means the best deal for the money. And that can have a big impact on the way we market our products.

Manufacturers focused on eco and sustainable products have, over the past few years been able to tout their products with a planet saving positioning. The latest credit squeeze and purse strings tightening may have given them a scare.

But this scare just might be an opportunity in disguise – an opportunity to position green products as quality products – that sooner or later everyone will be seeking. The final nail on the coffin of cheap imports may have just be hammered home.

So, I’ve been telling my clients recently, revise your thinking. This isn’t the time to be chasing volume. This is the time to scale back, regroup and focus on margin. Higher margin goods at reasonable prices will sell in this new economy.

A shift in consumer thinking can benefit those companies that are prepared for it. Disposable is out. Reusable is in. Consumers have wised up to the often minimal difference between a store brand and a name brand and store brand sales are booming.

Consumers still have needs. What they no longer do is buy indiscriminately. So if your product is one that customers must buy, sooner or later, then positioning your product as a long-lasting, quality product is key.

Shoppers are staring to think long term. If I buy this…how long will it last? Can I hand it down? Can I resell it on Ebay? Can it help me save somewhere else?

Welcome to the new/old way of thinking!

Photo Credit: wetwebwork at Flickr Under Creative Commmons License