Often people are just hanging out instead of buying but the experience makes their desires seem accessible. And when they're ready, they come back to spend money. Conspicuous consumption is still a prime motivator. However, Jasmine Montgomery, strategy director of brand consultants Interbrand in Singapore, says Gen YWR acquires wealth not just for the sake of having stuff, but as a way to affirm status in a cool tribe. This is the generation whose lives have been shaped by Nike, PlayStation and Hello Kitty.
Brand image is everything.
That's why Nokia's strategy to market mobile phones as fashion accessories has been so successful. But the proliferation of choices makes cutting through the clutter difficult. Hong Kong mobile-phone operator SmarTone is keeping customers interested with a popular new service that allows subscribers to call a hot line to locate the nearest bank machine, recommended restaurant or a handy parking lot. In doing so, it's catering to clients who appreciate service and convenience. It's just that this time, the rewards promise to be higher for those who succeed.