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It wasn’t very long ago that marketers were assured that most consumers were still willing to trade up. You remember, don’t you? Average Joes and Soccer Moms splurging for that extra “little” something—be it a $6 latte or a $300 Coach handbag—just because they worked so hard and deserved some of life’s finer things. A good many starry-eyed marketers predicted that, even in a recession, this be-good-to-yourself dynamic would somehow hold true.
It hasn’t. While no headlines have announced the official passing, it’s become clear that the "aspirational" consumer—that cherished demo of marketers everywhere—is dead.
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