new book-treasure hunt-the opportunity with the middle class

06/27/2006 06:12:00 PM
Michael Silverstein the BCG consultant and author of Trading Up, is back with a new book called Treasure Hunt. His latest theory is that markets are bifurcating; there is increasing demand for lower priced goods and there is also a desire for luxury.

The book suggests, that for this burgeoning "middle-class", shopping has now become a "Treasure Hunt" for consumers; where they browse a global bazaar looking for value.

Silverstein has valued the US "trading-up" market at $535 billion, but the "trading-down" market is worth more at $1 trillion and is forecast to grow to $1.5 billion by the end of the decade.

Silverstein believes that consumers are becoming extremely complex in how they configure their category purchases; deciding what to trade up and down for and what categories to avoid all together.

He suggests that companies focus their target thinking, identifying and bringing to life a single consumer, that they build their thinking around, someone who is aspirational and can act as magnet for others.
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