11 Nice Share of Pockets and Funflation cartoon – Marketoonist
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Kevin Jordan-Deen, SVP at Colgate-Palmolive, inspired me final week to re-imagine and re-create a “Share of Pockets” cartoon I initially drew in 2009 in the course of the “Nice Recession”.
Once I drew the unique cartoon, I used to be GM for the not too long ago launched Technique model within the UK. A lot of the recessionary advertising and marketing local weather on the time was centered on belt-tightening, personal label and deep promotions, notably within the Dwelling and Private Care classes the place I labored.
And but, regardless of the worth focus all over the place, everybody appeared to search out the price range to splurge on a brand new iPhone. That juxtaposition was the unique punch line of the cartoon in 2009.
Kevin (coincidentally now additionally working in Dwelling and Private Care) notes an identical local weather in the present day, with loads of thrifty buying behaviors on show. However as a substitute of the iPhone, customers have been splurging on Beyoncé, Taylor Swift, “Barbenheimer”, and different experiences.
Final week, James Knightley, chief economist at ING, particularly known as out Taylor Swift, Beyoncé, and “Barbenheimer” for serving to US GDP develop 4% final quarter.
In total shopper spending, Beyoncé’s “Renaissance Tour” generated $5.4 billion, Swift’s “The Eras Tour” $4.6 billion, and “Barbie” and “Oppenheimer” $3.1 billion. And these are simply the largest headline occasions to characterize rising shopper spending on experiences, together with all the things from NFL video games to Disney theme-park visits.
Analysts have dubbed this phenomenon “Funflation.” Common ticket costs for reside leisure have climbed 19% since 2019.
Greatest Purchase CEO Corie Barry even name-checked each “Funflation” and “Taylor Swift” this week as a motive for the retailer’s gross sales droop.
As she put it:
“Funflation, Taylor Swift … these experiences are actually the place persons are prepared to pay. Greater ticket objects in electronics will not be proper now the place persons are .”
Listed here are just a few associated cartoons I’ve drawn through the years:
“If advertising and marketing saved a diary, this is able to be it.”
– Ann Handley, Chief Content material Officer of MarketingProfs
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11 superior Share of Pockets and Funflation cartoon – Marketoonist