I often point out to clients that value is not just about money. It’s about necessity. It’s about urgency. It’s about happiness. We all value different things.
I remember when I was a child, growing up in a lower-income neighborhood of Miami, learning this lesson. Many of my friends, whose family were on government assistance and struggling to make ends meet, had many of the so called “luxuries” my family could never imagine providing. New Jordans, gold chains, Cadillacs, big TVs, and more. The issue for many of these families was not whether or not they could afford it, but rather what they valued. Some lived in a run down house, but the feeling of driving down the block in a great big Cadillac (Diamond in the back, sunroof top, diggin’ the scene with a gangsta lean, gangsta whitewalls, TV antennas in the back) seemed to make them feel better. Some bought their groceries via food stamps, but doing so, wearing fresh Jordans, seemed to bring a sense of confidence they desired to “make it through” the situations they found themselves in. Keeping up with their impression of Mr. Jones was what was most important to them at that place in life.
Now, I’m not condoning this sort of behavior, however the lesson learned was, people will find a way to make things happen if it is important to them. In a down economy, it’s not necessarily money that changes what we buy, but value. Consumers may not buy what you’re selling simply because they don’t value it. Maybe they value family, rest, their home. Maybe they value luxuries that make them forget, even just a little, during hard times.