2008 is well underway now, so it’s about time we highlighted the “EXPECTATION ECONOMY“, an umbrella trend that neatly captures the zeitgeist for mature (and rapidly maturing) consumer societies, while also incorporating and explaining many other subtrends. Yes, it will keep you busy.
“The EXPECTATION ECONOMY is an economy inhabited by experienced, well-informed consumers from Canada to South Korea who have a long list of high expectations that they apply to each and every good, service and experience on offer.
Their expectations are based on years of self-training in hyperconsumption, and on the biblical flood of new-style, readily available information sources, curators and BS filters. Which all help them track down and expect not just basic standards of quality, but the ‘best of the best’.”
The EXPECTATION ECONOMY has been building slowly in the background. The biggest difference from five to ten years ago? Word of mouth now travels the world in a flash, making product launches instantly global, turning every new brand—big or small—into a potential ‘player’, and most importantly, rewarding exceptional performance with immediate interest and approval from consumers. Basically, Joseph Schumpeter’s ‘Creative Destruction’ on steriods.
Regardless of what business you’re in, are you ready?…