Good,News,Our,Brave,New,World, business, insurance Good News in Our Brave New World
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As the year 2001 winds into its final quarter, it is safe tosay we're not in the 20th century any more.The unprecedented long cycle of prosperity we enjoyed in the90's led many to believe that we were experiencing a neweconomy; one that was immune to the ups and downs we knew inthe past. This year, that notion came to a crash along withthe NASDAQ. The events of September 11 and the aftermaththat continues to ripple through the world economy provethat we are indeed in a new era. How it will affect yourhome business is anyone's guess.Many pundits predicted that consumer confidence, already lowin 2001, would plummet after the attack on the World TradeCenter. While the economic shakeout has indeed beendisturbing -- with layoffs, poor profit reports and entireindustries asking Congress for bailouts, in the case ofconsumers, the experts appear to be wrong. A Gallup Pollreport issued on October 17 states that 'today, 38% rate theeconomy in positive terms -- excellent or good -- upslightly from 32% in a Gallup survey taken Sept. 7-10.'Thirty-three percent say economic conditions as a whole aregetting better in the United States, up from 19% just beforethe attacks.'Gallup speculates that a 'rally effect' is behind the goodnumbers, and notes that approval of the President is atrecord levels, while Americans are behind Congress at levelsnot seen in 27 years.Increased trust in the U.S. Government may be a byproductof the most visible reaction to the terrorist threat: TheAmerican flag is everywhere. It is now cool to wear yourpatriotism on your sleeve -- not to mention your home, yourbusiness and even flying from the antenna of your car. But in an unusual response to an extraordinary threat,government officials from President Bush to Mayor Giulianihave urged citizens to exercise their patriotism in aunique manner: by spending as much money as they possiblycan. This would seem like a perfect marketing opportunity,and many businesses have created ads that play on thenation's new sense of duty - with mixed results.'There's no mixing green with red, white and blue,' said theLos Angeles Times in a study of post Sept. 11 advertisingcampaigns. Nothing will alienate your customers quicker thanthe appearance of trying to cash in on a national tragedy. A less visible but possibly more lasting reaction to ourchanged world is a focus on the things that really matter:Family, community, home and values - what trend watcherFaith Popcorn calls 'cocooning.'It is a term Popcorn coined back in 1984 as a reaction tothe news of the time: environmental problems, overindulgedYuppies and the conspicuous consumption of the Reagan era -all of which were surpassed by the excesses of the decadewe just completed. The first years of this century willaccelerate that trend, she says.It's 'about insulation and avoidance,' Popcorn told the LosAngeles Times. 'We know now that it's important tounderstand other cultures and international politics. Butwe're going to learn by watching TV and reading, not bytraveling.'Popcorn says that 'men and women are functioning more aspartners instead of adversaries.' She told the Times thatfamilies will decide together on big purchases, 'rather thanmen buying their toys, and women saving for their luxuries.The question will be, what does the family need rather thanwhat does the individual want?' Sell products that answer that question and you may wellride the latest economic wave: --> Anecdotal evidence indicates that the new world order has prompted Americans to appreciate the simple pleasures of life. The 'simple' movement has been in force for some time; the events of the last several weeks may accelerate it. Working parents may not be so willing to work longer hours to afford bigger homes - look for increased demand for home improvement. Furniture, decorating and cooking will be in. --> Demand for home security is likely to increase, as will home entertainment. --> Between the threat of layoffs and the desire to be with family, the trend toward working at home may grow at an even faster rate than in previous years. Home office furniture, equipment and supplies will continue to be in demand. Interest should grow in network marketing and other easily financed home business programs. September 11 may have marked the end of the world as weknew it - but not the end of the world, or your homebusiness, which may emerge from this period stronger thanever.
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