Madison Ave. Declares ‘Mass Affluence’ Over

[marmar]

from Too Much: A Commentary on Excess and Inequality:




Madison Ave. Declares ‘Mass Affluence’ Over
May 30, 2011

The American middle class, concludes a new study from the ad industry’s top trade journal, has essentially become irrelevant. In a deeply unequal America, if you don’t make $200,000, you don’t matter.

By Sam Pizzigati


The chain-smoking ad agency account execs of Mad Men, the hit cable TV series set in the early 1960s, all want to be rich some day. But these execs, professionally, couldn’t care less about the rich. They spend their nine-to-fives marketing to average Americans, not rich ones.

Mad Men’s real-life ad agency brethren, 50 years ago, behaved the exact same way — for an eminently common-sense reason: In mid-20th century America, the entire U.S. economy revolved around middle class households. The vast bulk of U.S. income sat in middle class pockets.

The rich back then, for ad execs, constituted an afterthought, a niche market.

Not anymore. Madison Avenue has now come full circle. The rich no longer rate as a niche. Marketing to the rich — and those about to gain that status — has become the only game that really counts. ..............(more)

The complete piece is at: http://toomuchonline.org/madison-ave-declares-mass-affluence-over/

[LetTimmySmoke]

1. It's only because of consumer demand that these guys are rich in the first place.

The concentration of wealth upward is like a game of Jenga - the thing's gonna collapse.

[underpants]

2. This is bad news. The American middle class was the basis for many economic models since WWII

MAny would say (sorry for the Fox News disclaimer) that at Brenton Woods it was basically agreed upon that the American middle class would initiate demand for products and be part of the selling point across the world. "a hit in the US" ranged from music to household items to tires to everything.

This is really alarming news.

[Warpy]

3. Wow, they finally noticed.

Now they have to figure out ways to tell us we need to buy their crap rather than persuading us that we're due some luxury in our lives. That dog won't hunt any more.

My guess is that they'll try to use guilt, just like they did to 50s housewives.

[Dawson Leery]

4. This has been in the making for a long time.

[pa28]

5. A smaller middle class is the new reality but middle America is the last to see it.

Losing class status is a painful and increasingly common event and I'm guessing that is the reason for the widespread denial. They don't want to believe it's actually happening and after reading this it looks like the advertising industry might end up delivering the bad news.

[starroute]

6. It's becoming another reason to avoid watching television

A steady parade of ads for things I will never be able to afford is depressing enough to give me reason to avoid watching at all.

Of course, the article suggests that people like me are irrelevant anyway. But would the television industry really be happy with 2% of its current viewership, so long as that was the top 2%?

[xchrom]

7. recommend