Survey Reveals The Rise Of Cool Consumerism
Consumers across Europe are increasingly purchasing products of all types in order to reflect their aspiration to lead a cool lifestyle, according to new research from independent market analyst, Datamonitor.
The report claims that the desire to achieve coolness through consumerism runs across people of different ages and social categories and is not simply confined to the young and impressionable. Older consumers were found to actively seek out products that allow them to share in a youthful lifestyle and also held the belief they can obtain coolness and confidence through the purchase of certain items.
The survey reveals that 66% of respondents felt it was important or very important to feel personally cool in the way they live their lifestyle and a similar number also placed an equally high emphasis on being seen as cool in the eyes of others.
Datamonitor claims that insecurity is a natural facet of human nature and cool brands and products provide an important sense of security to ordinary customers. However, critics of this theory claim that the pursuit of coolness is commercially driven and argue that security and well being cannot be bought or sold.
According to the study, coolness in packaged goods is about enabling people to lead a certain aspirational lifestyle that is easily seen and viewed as attractive by others. Through ownership of such brands consumers are promised entry into this lifestyle.
Datamonitor also reveals that the concept of cool is extremely profitable as companies such as Nike and Adidas have already proved. However, it also warns marketers that cool means different things to different people. It identifies three distinct consumer groups: opinion formers, adopters and regulars who identify what is cool at different speeds.
Commenting on the research, Daniel Bone, analyst at Datamonitor, said: “Marketers must be able to vary their tactics for targeting these consumer groups in order to make products appear desirable to their lifestyles and personalities. They must also resist letting cool diffuse into the mainstream too quickly.”
The research also urges marketers not to get carried away with the pursuit of coolness and according to Bone: “It remains more important to market your product as lifestyle supporting. Overall, it is important to remain true to the basic tenets of marketing ensuring you fulfil high need levels among your target market.”
Recent research from the ROAR consortium revealed the fickle nature of coolness, as young people ranked ethical concerns the least important factor when choosing a clothes brand (see No Logo Fails To Capture Youth Market).
Datamonitor: 020 7675 7271 www.datamonitor.com
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