Recession Makes "Authentic Value" the Price of Entry for Marketers Targeting Women

CHICAGO, IL, Apr 29 (MARKET WIRE) --
"This recession is transforming what women need, how they think, how they
spend, what matters to them most, and what marketers must say to reach
them," according to GiGi Carroll, senior vice president and head of
women's initiatives at Draftfcb Chicago. "Authentic value has become the
new price of entry for marketers and only what is good, trusted and
worthy will win the race with today's women."

Speaking at the 5th Annual Marketing to Women Conference at the Chicago
Cultural Center today, Carroll said, "Practicality is up... it's the new
badge of honor that has women clipping coupons, waiting for sales, buying
lipstick instead of Lanvin, and planting whole foods instead of shopping
there."

Carroll said women are making this recession into "a rebirth, or a
renaissance, resetting the socio-economic thermostat that had everyone
living large and out of whack like there was no tomorrow." Women represent
$5 trillion and 85% of purchase power and according to Carroll, "For
today's recession women, comfort is trendy; family values are the new
urban chic; frugal living is now fabulous; 'swapping is the new
shopping'; deep is the new superficial; and being happy with what you
have is 'in.'"

Citing new buzz words like "Recessionistas" and "Chiconomics," Carroll
said this rebirth or renaissance of middle-class values being prompted by
women provide many guidelines for marketers now and as they emerge from
the recession. Among the insights cited by Carroll are:

-- Little luxuries are always appreciated, including things like candles,
fabric softener, chocolate
-- Big luxuries are still selectively sought, i.e, DeBeers' new "Fewer,
Better Things" campaign
-- Functional luxuries, such as cell phones, are still necessary objects
-- Practicality can be profitable, i.e., big plasma TVs for home
entertainment
-- Comfort is in... find comfort in comfort, i.e., Kraft's Mac & Cheese
-- The thrill is in the hunt: Bargains have never looked better
-- Green is still in the black... because customers believe it's the
right thing to do
-- Transparency has never been more clear; marketers must be more honest
and loyal with customers

Carroll pointed out that brands that represent authentic value, i.e.,
Aldi, Kmart, Costco, Kraft, etc., have maintained and even improved their
status, while absolute luxury brands like Harry Winston, Hermes, and
Burberry even grew eight percent last year. She suggested that
aspirational or accessible brands such as Coach, Dasani, Whole Foods,
etc., have suffered the most. These so-called "badge brands" that really
should have only been embraced by the few, became a mainstay of the
middle class. Not so much now.

According to Carroll, common sense now seems to be taking over, as does
the rebirth of a new class system -- which is really the old class system
-- where only the very few can afford real luxury all the time and the
rest of us can only dream about it, or indulge in it once in awhile.

"Marketers need to understand what women are thinking and doing as a
result of this recession and similarly reset their marketing
thermostats," Carroll said.

Contacts:
Michelle McGowan
Draftfcb
312.425.6013
Email Contact

Kathleen Ruane
Draftfcb
212.885.3807
Email Contact

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