2009: Year of Opportunity?

Fascianting article in this weeks Brandweek written by Ann M. Mack, Director of Trendspotting at JWT

Betting on the Uncertain
2009 will be a time of austerity — and for a savvy few, opportunity

Jan 5, 2009

-By Ann M. Mack

If you think hard, you might be able to remember the good old days of, say, this past summer — back when some economists still had an argument for using terms like “slowdown” or “softness” in place of the dreaded “r” word. How quickly things change. The bleak news of September has plunged us not only into recession, but into one of its most dismal and enduring byproducts: consumer uncertainty.

The coming year promises few remedies for that, and we’ll see more evidence of how they choose to cope — but, as with so many other things, bad news is what you make of it. People will be increasingly inclined to savor simple pleasures.

The reality or the risk of money running short will prove to be real incentives for consumers to find new ways of enjoying what they have, rather than blindly buying and spending. For businesses, the guiding principle will be the pleasure/price ratio: Which products and services in a given portfolio offer the greatest scope for real pleasure at an affordable price? Can the pleasure be upped without raising the cost?

Facing a forced “break,” many people will re-examine their career paths. A growing number of older workers will postpone retirement, extending their careers into their golden years. But from this adversity will flow opportunity. Lower-paying, but more, stable sectors — government, secondary education, and the like — will benefit from access to a new talent pool, as will smaller financial firms and burgeoning industries like alternative energy. For investors willing to take a chance, getting in on smart entrepreneurial ventures could pay out big once the economy stabilizes. After all, some of the best business ideas (and career decisions) are born in desperate times.

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