Consumers like to show off generosity

This is the second and last in a two-part series about changing consumer demands on the basis of surveys by Trendwatching.com. ― ED.

By Cathy Rose A. Garcia

Staff reporter

Generosity is not usually seen as a status symbol. Yet Trendwatching.com has noted how the concept of generosity is gaining importance in society and business, especially among the so-called Generation G.

Consumers have grown weary of the culture of greed and its consequences for the economy. There is an emergence of an online-fuelled culture of individuals that share, give and collaborate. Since it is online, it becomes easier to showcase one's act of generosity.

In the aftermath of the Haiti earthquake, there was an outpouring of sympathy and donations from people all over the world. Hip-hop singer Wyclef Jean used Twitter to urge people to donate to his charity, by sending a text message to a designated number.

In the know

More consumers are finding that acquiring more knowledge and new skills can become status symbols, which has led to the rise of consumers-turned-bloggers and cool hunters.

``They attain status from finding an appreciative audience that's impressed with what they know, and can create, instead of what they consume,'' Trendwatching.com said.

Several brands have created iPhone applications that give consumers inside information. Nike's True City app gives tips for travelers in six European cities, while Adidas Urban Art Guide app is a travel guide that links users to Berlin and Hamburg's best graffiti spots.

British retailer Tesco has a Wine Finder app, which gives wine recommendations based on price, country of origin and accompanying cuisine.

Connectivity

Facebook, Twitter and other social networking sites are places where people can enhance their status. The number of Facebook friends, Twitter followers and views of your YouTube videos are associated with one's social status.

``When it comes to online status, it's all about who you connect to, and who connects to you, tribal style... Unlike in the 'offline world', these connections are visible: friends and acquaintances are no longer the subject of awkward name-dropping, but are visible to all,'' the report said.

Consumers will continue to experience a need to continue to maintain and improve their online presence, through videos, blogs and stories. ``One's online status updates are an integral part of one's overall social status,'' it added.

For companies to take stay on top of this shift in society's concept of status, Trendwatching.com said they should develop a better understanding of its customers, especially of who they are trying to impress and what kind of status is important to them.

``If you already actively serve a diverse crowd of status seekers, figure out how you can help them to better show off their new status symbols or better tell their status stories,'' it said.