How Important is Ownership?
Recent research suggests the place that possessions occupy in our lives is changing, slowly but surely. Look back to the 1960s, for example. The mass market was built on the assumption that you worked hard, earned progressively higher salaries and bought more and more products that reflected your new money status. Today, selfactualising is about experiences, emotions, ethics and engagements – leaving less space for products.
As in any change, there is opportunity for those businesses that read the new reality and react in ways which align to the world as it is. The danger for so many retail and fmcg businesses is that they ignore the signs – or read the signs but enter a denial phase. My contention is that, like so many social shifts before, the change in attitudes to ownership is going largely unnoticed; it is creeping up by stealth and the proverbial frog is dying in the slowly heating waters.