More of the same

Just to continue on with my spiel about the shopping bag index-yes, I know, I paid all those dollars and spent all those sleepless nights earning an MBA from Duke just to come up with this entirely unscientific economic index.

Truth is, I have been seeing more and more young women (some men, yes...) in their twenties carrying shopping bags. This is significant because it is not sale season, it is not New Years, when young people get cash gifts (equivalent to cash gifts at Christmas), it is just November!

It is no secret to marketers that the 20 to 35 year old women segment is a prime target, but WHY they buy is often the Holy Grail. More than other countries, the segment is what I call "event sensitive" because an unforeseen event such as a movie, a sports figure visit to Japan, a hit song could trigger a mad dash to buy into that particular trend. Laugh at it if you like-but at your own peril. Such is the start of larger trends that can reap big rewards for those who see it coming.

It might provide insight to add that Japan, Inc. has long been a sales oriented business environment, and not really a marketing oriented environment. Sure the largest advertising agency in the world, Dentsu, is here, but marketing is more than advertising. Indeed, the heavy sales oriented environment has relied entirely on advertising to move product, and the brands that have succeeded in strengthening their brand equity are the exception, not the rule. Coca Cola and Sony come to mind, as does Starbucks. I have too many friends who lament the lack of creative marketing thought in the firms where they work. I think it is more accurate to chalk that up to the vagaries of a "Sell!!" environment where the target segment is "event driven" than denigrate the abilities of people in marketing departments around the country.

But that is just my own inside take....