By 2020, the world could develop into a myriad of different scenarios, but there is no one scenario that can accurately represent what the US, let alone the world, will become—even in four short years. The four scenarios in “Consumer’s Futures 2020” has options that could unfold, but it is unlikely in such a short timeframe. Nevertheless, the most likely of the four-presented scenarios to me is ‘sell it to me.’ This is because the scenario allows people to keep spending and minimizes the work individuals have to put into becoming more sustainable. It also marks a more prosperous, flourishing economy that enables the option to buy more selectively the brands and products that intrigue them. Lastly, this scenario utilizes the technology that we are already hyper reliant on to generate more personalized business. Many of these aspects are already occurring to some degree, but I can see them becoming more prominent over time.
The market is currently well on the mend, with unemployment rates decreasing and overall incomes increasing; awareness of income inequality is more mainstream and being combated, contrary to this scenario’s forecast (one aspect of scenario 3 I disagree with). With this increasing upward mobility, consumers want to buy more and more, as many US citizens mark their prosperity on how much you can buy. Already emerging is the demand for organic foods to be sold in conventional grocery stores. People also spend a little extra to buy brands that give them the perception of wealth—like that must have North Face jacket, the new iPhone or Beats headphones—not because having these brands are necessities but because they give the illusion of higher status. These choices by the consumer lead to b...
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...ncerns. The belief that companies produce the products, thus it is companies’ responsibility to moderate and make adjustments to their products and production to ensure a safer, healthier environment for future generations.
Consumers now and consumers in 2020 won’t be all that different. The most prominent change will be with the continued rise in incomes and employment more people will have the ability to be over consumers. Increasing affluence will make a greater need for large companies to meet the personalized needs people desire, which will prompt the use technology to gather this information. Consumers will be focused on what is best for them, slowing increasing the demand for more sustainable products to be made available for them to purchase so they can feel like they are taking part in sustainability, while creating a minimal change in individual lifestyles.
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