Big Changes in Status Symbol Land

Consumer behavior is often driven by the human desire to communicate status and wealth. But the status symbols of the new generations are very different from those of prior generations. Increasingly status is shown not by material possessions but by political and cultural alignment. By time and flexibility rather than money. By an online profile and persona rather than a real-life one. Is your business ready to capitalize on the new status symbols? Or will you continue to sell to an increasingly older and smaller consumer market? It is critical that you analyze the impacts of changing consumer preferences and behaviors on your business and develop and execute strategies that will not only help you survive but thrive in the new status symbol land.