A Look Inside Bain's 'Consumer of the Future' Report
If you're like me—in your early 30s and struggling to find opportunities hidden in our current grizzly bear of a market—yesterday's remarks by President Obama sounded sweet and promising. Yes, we can “restart the engine of our prosperity” while transforming the U.S. with “bold action and big ideas!”
Mercifully optimistic, the President's promise that we “will emerge stronger than before” sought to pacify the news that U.S. consumer confidence "tumbled in February to its lowest level in more than 41 years, partly because people are increasingly discouraged about job prospects."
While Fed Chairman Ben Bernanke holds out hope for an economic recovery by 2010 "even as new signs emerged that the recession and financial crisis are feeding on each other in ways that worsen both," the devastation already wrought on our fragile consumer psyche threatens to compromise even the most established companies' relationships with their best and most loyal clients.
For this reason, I suggest taking a look at a recently published report by Bain & Co. In its inaugural "Consumer of the Future" report, the consultancy measures the effect of the global economic downturn on consumer trends. Not surprisingly, changes in purchasing behavior have already emerged, and Bain's look into future spending habits warrants careful consideration.
Consider the risk that companies now run as they wrestle with controlling costs, retaining customers, and managing cash flows: squandering "years' worth of brand equity for a few quarters of sales." The consultancy raises an interesting idea: that today's economic demise impacts current trends, but does not necessarily initiate new ones. In this light, the consumer experience will become even more important coming out of the recession. Unfortunately, it appears unlikely that today's damages to consumer confidence can be healed any time soon, and one must begin to wonder if the days of brand loyalty are in fact coming to an end.
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Is it "perverseness," the "death drive," or something else?
A growing body of research shows promising signs that the keto diet might be able to improve mental health.
- The keto diet is known to be an effective tool for weight loss, however its effects on mental health remain largely unclear.
- Recent studies suggests that the keto diet might be an effective tool for treating depression, and clearing up so-called "brain fog," though scientists caution more research is necessary before it can be recommended as a treatment.
- Any experiments with the keto diet are best done in conjunction with a doctor, considering some people face problems when transitioning to the low-carb diet.
It's up to us humans to re-humanize our world. An economy that prioritizes growth and profits over humanity has led to digital platforms that "strip the topsoil" of human behavior, whole industries, and the planet, giving less and less back. And only we can save us.
- It's an all-hands-on-deck moment in the arc of civilization.
- Everyone has a choice: Do you want to try to earn enough money to insulate yourself from the world you're creating— or do you want to make the world a place you don't have to insulate yourself from?
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