Making Frugality Desirable
Less can really be more.
The world is in crisis – and we know it.
We are moving towards reducing consumption, minimalism and collaborative economy.
The general opinion is that we are all responsible for climate change and that we all have to contribute to greater frugality. 79% of Prosumers and 67% of consumers believe they could be happier in a more frugal world. And don't confuse frugality with austerity: the first is voluntary and even aspirational, the second implies imposed and difficult sacrifices.
Frugality is the new trend.
Behavior is always influenced by trends, but what happens when the trend is not something we can buy? What if it's a new attitude to adopt? 82% of Prosumers say they admire people who have transitioned to a more frugal lifestyle. With influencers and other change agents openly tackling climate change, we may be entering an eco-cool era.
But it doesn’t happen overnight.
In the aftermath of the pandemic, many are eager to live life to the fullest, so there is some resistance to the prospect of having to give up something to live a frugal life.
Cutting back on travel and consumption helps the environment, but limits the newly regained freedom.
Society and the planet benefit from a more frugal approach to consumption. But to what extent is this feasible? And how far are we willing to go? Buying better, reducing waste, consuming less and being more self-sufficient are alternatives. Some are accepted, others not so much.
How can brands foster frugality?
Only 8% of Prosumers think that brands are doing everything they can to fight climate change. However, 84% believe that large companies have the means to make the necessary changes. After all, what can brands do to boost this movement?
1. Educate the public: 7 out of 10 Prosumers see education as key to reversing climate change. Being aware of the impact we have is essential to making informed decisions.
2. Make simplicity appealing: Such a lifestyle can be driven by brand narratives that celebrate simplicity and minimalism and those who choose to live more frugally.
¾ of Prosumers and consumers in general recognize that what makes them happiest is being satisfied with simple things.
3. Connecting people to nature: 63% of Prosumers aspire to a more frugal life because they believe it will bring them closer to Nature. There are several trends emerging (eg: cottagecore) particularly among the younger generation that signal shifts towards a more natural life.
4. Connect people with each other: Consuming more consciously also means rejecting the standards that value living to work. For most Prosumers, being able to work less and spend more time with family is part of the appeal of living frugally.
Who’s doing it?
Levis: “When they’re made to last, we can all waste less. I Buy Better. Wear Longer.” https://www.youtube.com/watch?v=4oCB0SwxJB8
Ikea: “Fortune Favours the Frugal”
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