CHAKRA - business news from Third Eye Management

Whatever industry you're in, in the end, everything is about status. And since what constitutes status in consumer societies is fragmenting rapidly, here's a (modest) framework to help you start exploring new status symbols and stories with your customers.
Like it or not, the need for recognition and status is at the heart of every consumer trend*. Status is the ultimate (hidden) motive, a subconscious but ever-present force.

Now, in a traditional consumer society, where consumption is one of the leading (if not the leading) indicators of success, those who consume the most (and especially those who consume the rarest and most expensive), will typically also attain the highest status. This is why brands have, for decades, gladly provided people with goods, services and experiences that help them (boldly or subtly) impress their peers and help alleviate their anxieties about how they're perceived by others.

However, mature consumer societies are changing, and so is the 'STATUSPHERE': an increasing number of consumers are no longer (solely) obsessed with owning or experiencing the most and/or the most expensive. Our definition:

STATUSPHERE | As consumers are starting to recognize and respect fellow consumers who stray off the beaten consuming-more-than-thou-path, 'new' status can be about acquired skills, about eco-credentials, about generosity, about connectivity... All of this makes for a far more diversified 'STATUSPHERE' than most brands and organizations have traditionally catered to. Time to really figure out how and where your customers are now finding their status fix.

*The other constant need is of course (romantic) love...

In other words, traditional status symbols (BMW's X6! Marc Jacob's latest eyewear! Emirates' Airbus 380 Suites!) are no longer every consumer's dream. So, in this Trend Briefing, we're exploring five realms in which consumers can now get their status fix. These realms closely align with the current directions consumer societies are headed in. In that sense, status follows culture: what is important to societies is reflected in existing and emerging status symbols and stories.

Now, while none of this should be (very) new to you, and we obviously had to work hard to prevent this briefing from turning into a 200 page report, this framework will hopefully help you to take an even more integrated approach to this 'trend of all trends'

BIGGER, BETTER, HARDER
consuming the most and the most expensive

GENEROSITY
giving instead of taking

GREEN CREDENTIALS & UNCONSUMPTION
greener or less consumption

IN THE KNOW & SKILLS
knowing and doing versus consuming

CONNECTIVITY
social status, especially on line

However, before you dive into the STATUSPHERE:

Status is just an agreement

What if a watch was for only telling the time?

One reminder: not a single status symbol or story is ever safe from devaluation, as these symbols and stories are mere agreements between groups of people. For example, the moment 'society' agrees that a car is just a method to safely move from A to B (or a nuisance that needs to be avoided due to environmental worries and space constraints), and not one of the dominant indicators of one's financial standing (as it is now), luxury car manufacturers will have a problem. Feel free to apply this exercise to your own industry ;-)

Status-less consumption?

Oh, and think our obsession with status as the driver of, well, everything is somewhat far-fetched? Then consider the following: in mature consumer societies, is there really any kind of consumption or behavior that is entirely devoid of status considerations?

An extreme (consumption) example: would installing a top-of-the-range home spa, solely for one's own pleasure and comfort, not to be seen or to be used by anyone but the owner, be free of status considerations? Or will the owner (let's assume he/she is single) at some point tell peers about the fact he or she had this spa installed, and is using and enjoying it? What if the owner was not allowed to tell anyone about these assets ever? Or how about this one: when going on an exotic, carbon-neutral voyage to remote islands that other tourists haven't set foot on before, is the ultimate value the experience itself, or is it to be found in the impressive eco-travel-stories a traveler can tell his or her peers on return? And here too, what if the traveler was not allowed to ever share his or her stories with anyone?

Consumption and behavior-wise, everything contains a status component, however tiny or indirect it may seem.