In these times of recession, the “production paradigm” of the Western world has been challenged, the pivot of economy is moving towards the East and “paper” economy is worth seven times the real economy.
The recession has affected everyone; we have all tried to defend ourselves but the storm has changed consumer habits. Excess is a thing of the past, and abundance has lost its status. Luxury is more than ever a closed circuit. In this context, consumption has dropped dramatically and there is now a new demand for products, distribution channels and end markets.
Although the market is flooded with offers, they all tend to be very similar and many products are becoming commodities. The large-scale retail trade favours few types of products and increasingly prefers «private label» brands. In this scenario, Italian companies, whose true competitive strength, by culture and tradition, has always been «differentiation» are today in a position to start a new process of development provided they have the ability to bring their history, art of making and skills to international markets.
One thing is certain, there is still a great desire for Italian products in the world, and for what is known as the Italian Way of life.
But to start growing again it will be necessary to change perspective, and companies must do this with a different approach to new markets, becoming familiar with the new distribution formats and they must do so through product innovation.
Products must not only be perfectly manufactured, but must also meet the new requirements of a rapidly evolving world. And to do so, it is necessary to remain on the market and filter these new demands by seeing them in a new way, based on tradition, and ultimately, culture. In the years ahead, Italy may once again play a new role, provided it has the ability to make the most of its extraordinary talent to develop, produce and offer objects and products that attract the best customers in the world.
In a word, we must go back to being Italian.