Monday, August 01, 2005

Shift in Spending Habits - What Does It Mean?

Most of you who are reading this have probably already figured out that really important news goes through a big filter before it gets to you through the mass media. Here is another example of something that probably won't be reported today on CNN. However, you might want to make it a habit to visit Here is an amazing report that rings so true, but had never occurred to me. I also can't recall seeing a single thing in print that even suggested such a trend.

A report published today reveals a huge shift over the past 40 years in the way people spend their money.

While spending patterns in the 1960s were characterised by fulfilling basic needs and in the 1980s by materialism, the trend now is towards personal fulfilment and emotional happiness.

"Gone are the days when dinner party talk centred around what car or what consumer goods we own," the report says. "Now it's all about where we have been, what holidays we have taken, what we have seen or read."

Think about this first in your own life and conversations. Does it ring true? If yes, what does it portend? Here is my take. We have all the junk we could ever need or want. Kids have to throw away toys to make room for new ones in their toyboxes. Really poor kids are paying $90 bucks for Nikes. Most adults I know are commonly throwing away perfectly good clothes, furniture, and appliances just to get the latest greatest.

So we have all the material stuff we need, and we're feeling empty, lonely, like "is that all there is?" Now we are trying to fill the hole some other way. Experiences might seem like the next best thing. Those will end up falling short of satisfaction, too. The experiences will need to be more and more bizarre and pushing all kinds of envelopes. Sound familiar? Much to think about here.

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