One Hundred Thirteen Million Markets of One - How The New Economic Order Can Remake The American Economy

by Chris Norton, Ross Honeywill

The recent focus on the one percent, a group that has come to be associated with wealth and power, obscures where the real source of capital and power lies today. Seventy seven per cent of discretionary spending - the engine that drives the American economy - comes from just 46 percent of the population. This largely undetected group is responsible for those parts of the American economy that are thriving despite the toughest conditions in living memory. We call them NEOs, short for the New Economic Order, as their spending adds up to an economy within an economy wherever they are. So far, they have remained undetected by businesses and government. If you're in business, you need to know who they are and what they really value. But more importantly, their discovery points to blueprint for building a sustainable economic engine, capable of powering America out of its current crisis and through the next century. The NEO Economy exists, but its potential has barely been tapped.

Genres: Business

172 pages, Paperback

First published August 1, 2012

Reviews

[Colin Anton · Rating 4 out of 5]

I did hate overuse of the term "NEO", because you know what the world needs? Another acronym to remember.

However, the book cleverly defines the charactistics of the New Economic Order - the type of consumer known to drive our "I want it my way right away" super-economy. The book also does a good job of showing how catering to these consumers will help make the American economy recession-proof in years to become - although I am a bit of a skeptic - promises of design and authenticity rarely scale, unless NEO businesses continue to do well what they do well. The book cites Apple as an example - Apple is struggling to maintain their design conscious edge. Starbucks is pretty commoditized right now - they were phenomenal when just doing coffee, not so much with microwaved pecan pies. NEO airlines like JetBlue are sliding their business models back to traditional marketing staples (differently priced seats, less leg room for more seats). The struggle to say a NEO business is hard, long-term. Innovation of small businesses and start ups will continually have to be the engine that drives the NEO economy, and that's okay. But let's not pretend everyone can build a billion dollar fortune by preying on just NEOs.

The book should have chronicled more personal stories of NEOs, instead of providing generalisms. I was less interested in knowing more about Steve Jobs and Howard Schultz than I was knowing about the typical "John Doe" from Anytownsuburb, USA who drives a Lexus, drinks two daily lattes, and works out at Equinox. The stories and thoughts of those peoples were key to the argument. Also, the book underestimates the "keeping up with the Joneses" aura that plagues the American consumer. Quite a few companies (Apple jumps out at me) have made billions with aggressive marketing that have not applied to NEOs, but have also fooled Traditionals into believing what they are missing out on is a necessity, not a luxury. "All the cool kids have one, I want one!" C'mon, kids still buy $200 Nikes, not because they value design and authenticity, but because of peer pressure and the desire to fit in. Let's be real.

[Magdalena Golden · Rating 4 out of 5]

The book presents a very interesting concept that on face value seems to be true. I, for one, would certainly describe myself as an Evolver and in my business (lifestyle portrait photography of pets and families) I would like to attract like-minded Evolvers and NEOs. So for me the book kind of felt like a pep-talk, in a good way, and did give me valuable ideas and insights.

The authors go even further and keep repeating how emergence of more of NEO businesses is the cure for the economy crisis. Not being an economist myself, I have trouble establishing the validity of their claims so I'm not going to comment on that.

One thing that really rubbed me the wrong way, though, at least about this edition of the book, is that from the proofreading perspective it looks like a first draft. The number of typographic and stylistic mistakes is absolutely astounding for a book that went to print! And quite ironic considering that the book is addressed in part to those praised Evolvers and NEOs who, in the words of authors themselves, "relate to the world through design (...). From mobile phones to (...) typography, design has an impact on how NEOs understand and experience the world. How things look and feel is every bit as important as what they do." From that perspective, unfortunately, the book would need to be judged as amateurish, written in haste and with little thought.

[Laura Rasmussen · Rating 4 out of 5]

While it took me a long time to finish this book, it's not because it wasn't interesting or relevant. I think the whole concept of NEO and Evolver buyers - those people who search for authentic, unique products and exceptional service - is valid and relevant, particularly for small businesses. Local retail stores, like my own, need to constantly evolve and provide exceptional customer service and unique product offerings that big box stores and online resources cannot provide.

[Phil · Rating 5 out of 5]

One of the most important books written in the past ten years for retail, marketing and economics

[AJ Ostrow · Rating 5 out of 5]

I wish the authors were better writers and the results published in a scientific manner. One time for differentiation via authentic value alignment. Thanks to Tony Chapman for the recommendation.