What brand choices have you made to cope with a recession, and how many are based upon economic logic – or to make you feel empowered and in control? For example, do we feel we are making more prudent choice by going shopping at a budget supermarket, than by buying the ‘value’ or generic brands at our usual supermarket. The cost may be little different, but we feel we are making a more important action and this sustains our psychological well-being. I guess there are parallels with ‘green’ brands that we choose because they support our self image of caring for the planet, rather than really logically consider our choices.
In times of falling prices there would be a logic to suggest that in buying durables, we go for quality brands that will last longer. But will emotion drive us to budget brands that support or personal prudence image? Does it feel right to buy a Mercedes in a recession even if we can buy one for little more than the price of a Ford?