Recession weeds out the weak. Consumers are more picky with their money. They don’t want to blindly put their money into something that they don’t fully believe in or find immoral. Companies that suck, might not be around for too long.
In John Gerzema’s video at the TED conference, he talked about how people are saving more than before and how far into debt our country is. But a recession can also mean an opportunity. Society is changing the way they do things. There are now cow-pullings, which is locals getting together to buy local, organic meat in bulk. America is becoming a consumer based society where the consumer is calling the shots.
It is in out of the fire that great things are born, and this recession is certainly brining some heat. Instead of buyer beware, it’s business beware. Customers are shopping smart and selectively. They can choose who they want to support, especially with the help of review websites.