It started with Chumlee. I walked through the living room to my computer and stopped to watch Rick and Chumlee on Pawn Stars discuss the historical significance of something like a musket rifle. This intrigued me, but what really got me interested in their antiques was “value.” No, I don’t mean some 1920 decorative egg, I mean something that won’t break down within two years like my microwave.
Eight years ago, we purchased moderately expensive sconces. We didn’t realized that they would only last about five years. They developed an electrical short, and succumbed to the outside elements.
Inspired by the Pawn Star’s antiques, I bought four 1929 sconces at an estate sale that I will recondition. I believe these will be a better value than going to a lamp store to pay $200 per sconce. These antiques have lasted over 80 years, and are pretty cool to look at. I believe they will be a good value.
Then I came across a Strategy+Business Magazine article, Power of the Post-Recession Consumer by Gerzema and D’ Antonio. The article stated that we are part of a post recession trend of people looking for more than purchases that show status. [People are into]” a lifestyle more focused on community, connection, quality, and creativity.” In other words, when a consumer is deciding what to purchase, that consumer is considering which vendor using these four pillars. These exact points have been the foundation for some of my prior postings:
Community: Community Business Strategy: Love Your Neighbor as Yourself, and Maybe Even Turn a Profit
Connectivity: Mobile Payment Strategy: Is Your Small Business Developing One?
Creativity: Making a Living as a Musician: Do You Have the Right Frame of Mind to Break New Ground?
Quality (in tactics): Starbucks: The Moby Dick of Beans, and this article.
Of course, if this is the current reality, what are you the business owner, doing to capitalize on the trend? Are you changing your strategy to meet the consumer movement, or are you just doing business as usual? Businesses, small, medium, and large are moving at “warp speed.”