Treasure Hunt: Inside the Mind of the New Global Consumer

by Michael J. Silverstein, John H. Mayer, John Butman, et al.

Book Overview

A guide for companies on how to better understand their customers explains how today's middle-income consumers are more able and eager to obtain new luxury goods by making informed financial... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 1591841232
• ISBN13: 9781591841234
• Release Date: May 2006
• Publisher: Portfolio
• Length: 267 Pages
• Weight: 1.10 lbs.
• Dimensions: 1.1" x 6.3" x 9.3"
• Age Range: 18 years and up
• Grade Range: Postsecondary and higher

Customer Reviews

Any Advertising Rep should read this

This book should interest you especially if you are in the field of advertising. This book gives you insight into the psychology of buying. I found it very interesting as to how the new consumer ticks. There is a reasson why people buy what they do and you'll find out the information in this book. I applied the knowledge I gained in this book to my business. Great insight.

Why we scrimp then spluge

The BMW in the Costco parking lot is the operative metaphor of "Treasure Hunt: Inside the Mind of the New Consumer." Silverstein describes the flip side of "trading up" -- the trend in the luxury sector that was the subject of his best-selling first book of the same name. Consumers are buying more pricey goods, he writes, but they are also "trading down" -- treasure hunting -- for bulk goods and items that do not have high emotional value. The phenomenon creates huge opportunities for companies that figure out how to meet customers at the bottom or the top of the price continuum, and disaster for those stuck in the middle. Silverstein profiles the market, introduces us to consumers that exemplify a variety of buying behaviors, then shows us companies that have figured out how to adapt and win. Laden with numbers, charts and examples, "Treasure Hunt" could be the treasure map for businesses seeking to understand better how their customers think and what they want. But it's almost more interesting to read it for the glimpses it gives of your own spending habits.

Purchasing emotion

For anyone who is in the business of promoting a brand, this is a must read. It talks about the emotions of purchasing and hurrah, offers global examples vs so many other leading best sellers that are US only centric. Not only is it interesting from a sociological and cultural standpoint but it offers many examples of successful "back to basics" for anyone trying to create customer intimacy. From attacking the category like an outsider to successfully spotting trends and understanding emotional connectivity you will take away some great tips and have fun while doing so.

A non-boring business book

[...] unlike other books I've previewed, I got hooked on this one before I even finished the first page. The concepts of trading up, trading down, and the thrill of the hunt so aptly described just about everyone I know. My teen-age daughter's friends have two pairs of sweat pants that they wear over and over until they fall apart. But they all have Coach handbags and IPODs and every accessory. This book is fascinating from the psychologicaly as well as business aspects. As a Human Resources professional, It has helped me look at my employees as customers who also trade up and down, but in terms of salary and benefits, not silk scarves and cheap paper towels.

A Business Book About...ME! [and my sister, and my Mom, and all my friends]

What a fun read! I see myself in almost every chapter...and anyone who loves to shop will find themselves as well. Unlike most business books, Treasure Hunt is filled with stories of real people...and each had me saying "aha, I do that! I love knowing that someone else stockpiles goodies from Costco, or shops for designer scarves on ebay just for the fun of collecting them. And I feel better knowing that I'm not the only one scrimping on groceries so I can splurge on a fancy hair salon. What really sets Treasure Hunt apart, however, is that while it's a great read, it's also full of strategic business insight. It's a must for every CEO [as well as his Mom]. Silverstein is the first to actually come out and say that today's consumer has a mind of her own...and a damned good one. Today's shoppers, primarily women, are savvy about value and won't settle for less....and each has her own sense of what's worth trading up for...and what's not. It's about time some recognized how much demanding consumers are changing the marketplace. In this book, we shoppers finally have a voice...and a loud one. And Silverstein says if businesses want to sell to us...they better listen!