- Used Books
- Staff Picks
- Gifts & Gift Cards
- Sell Books
- Stores & Events
- Let's Talk Books
Special Offers see all
More at Powell's
Recently Viewed clear list
More copies of this ISBN
Treasure Hunt: Inside the Mind of the New Global Consumerby Michael Silverstein and John Butman
Synopses & Reviews
The essential follow-up to the BusinessWeek bestseller Trading Up. A BMW in a Costco parking lot? A working class family with a 50-inch plasma TV? What's going on in the mind of the new consumer?
Today's consumers can seem impossible to understand, and even harder to please. For instance, the average mall shopper will spend about $100, then leave when she hits that limit. She'll probably buy shoes rather than clothing, because she doesn't want to think about her dress size. And the store most likely to get her money isn't the one with the nicest display or the deepest discounts — it's the one closest to her parking spot.
In his consulting with dozens of leading companies, Michael J. Silverstein has interviewed thousands of customers, extracting fascinating patterns about what really drives their purchase decisions. His first book, the acclaimed bestseller Trading Up, has taught a generation of marketers about the "new luxury" phenomenon, and why consumers will happily pay a steep premium for goods and services that are emotionally satisfying, from golf clubs to bathroom fixtures to beauty products.
But Trading Up revealed only part of the story of the new consumer. The same middle-class people who are happily trading up at Victoria's Secret and Panera are going on treasure hunts at Costco and Home Depot. And they are often getting as much emotional satisfaction in the discount stores as in the luxury stores. Treasure Hunt shows how even the most mundane shopping — for things like paper towels and pet food — has become an adventure rather than a tedious chore.
In just about every category, both the high end and the low end are growing and innovation-rich. Many middle-class consumers gladly spend $5 a day for a Starbucks venti latte; others spend forty cents a day on home-brewed coffee, feel good about their frugality, and save up the difference to buy Apple's newest Nano. Treasure Hunt explains the success of companies as diverse as Dollar General, H. E. Butt, eBay, Commerce Bank, and Tchibo.
But beware: in our bifurcated global market, businesses need a clear strategy for aiming high or low, while avoiding the treacherous middle, where so many have recently stumbled. If your offering isn't exciting enough to inspire trading up, but not enough of a bargain to satisfy the treasure hunters, you'll have no emotional connection with your target audience. And then, as many fallen companies have discovered, your tried-and-true marketing strategies will go into a severe stall.
Treasure Hunt takes us into the homes of real people making real decisions, and into the CEO's offices of innovative companies finding new ways to accommodate them. Written with the same flair, empathy, and intelligence that made Trading Up an instant classic, this is an essential guide to the moods and habits of the constantly changing consumer.
"In their bestselling Trading Up, Silverstein and Neil Fiske explained why people are willing to spend beyond their means for certain premium goods. But that's only half the story: as middle-class customers splurge on lingerie and appliances, they're bargain-hunting for everything else. Companies will thrive, Silverstein argues, by catering to the penny-pinching impulses of consumers, or by "spanning the poles" and appealing to both the high and low ends while avoiding anything else — there's only "death in the middle." The book's profiles of individuals who splurge-and-scrimp and case studies of companies that have successfully adapted to the polarization of the marketplace show the key to survival is to offer the perception of good value for money and an emotionally satisfying experience. This is where the book becomes a tad creepy: Silverstein analyzes female consumers' relationships with their mothers and attributes an advertising executive's "lack of a father's love, a social-climbing mother and several failed relationships" as causes of her binge-spending and scrimping. Silverstein's guide to cashing in on the top and the bottom is intelligent without becoming mercenary; business owners will take notice." Publishers Weekly Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
"The authors look at such examples as Aldi, LG, and Dollar General...and point out that other companies, e.g., Sears, Ford, and General Motors, who pursue neither the well-packaged bargain nor the inspiring luxury presentation, continue to lose market share owing to their -middle - position in the marketplace." Library Journal
"Citing numerous case studies, Silverstein and his coauthor lay out in detail what companies must do today to appeal to the 'treasure hunt' and examine this paradigm with not only anecdotal evidence but also a considerable amount of data that you would expect from a veteran from the Boston Consulting Group." Booklist
The essential follow-up to the BusinessWeek bestseller Trading Up looks at an important countertrend: how middle-income consumers have gotten better than ever at finding bargains in some areas to trade up in other categories.
About the Author
Michael J. Silverstein is a senior vice president of The Boston Consulting Group and the coauthor of the business bestseller Trading Up. He works with leading companies around the world.
John Butman is an established business author and journalist.
Table of Contents
How I came to write this book. The story of Lillie and the cockroach. Why listening to consumers is so important and such an underdeveloped skill. The main thesis: the market is bifurcating and the middle is becoming a wasteland.
1. The Bifurcating Market
2. The New Middle-Class Consumer
3. Cheap Is Good
4. Spanning the Poles
5. All Treasure, All the Time
6. When the Calculus Shifts
7. In a Pickle
8. Nickels and Dimes
9. Left in the Dust?
10. Taking Action
About Our Sources and Methodology
What Our Readers Are Saying
Average customer rating based on 1 comment:
Other books you might like