BLOG ENTRY - MILLIONIARES PREFER MADE IN AMERICA?

In some research we will be releasing this week, we asked the question of whether investors are more likely to choose products made in America than in the past. The answer was overwhelmingly positive with more than half beginning to seek American made goods, regardless of wealth segment. Women were even more likely than men to look for American made goods.

The reason, we believe, is two-fold. The economic crisis that continues to persist is causing the growth of some of what could be called "localization". It's interesting that in an environment where you can now reach someone around the world instantly that we are beginning to retreat a little more into ourselves. Maybe we want to protect ourselves and those we love a little more. That feeling extends to helping the community around us.

I find myself wanting to shop at the little local sports store that sells bikes or soccer gear rather than going to Target or the big chains. I actually probably pay a little more, but i feel a sense of helping someone out. As a small business owner, I feel a sense of duty to support other small business owners. As the world grows closer, I want to feel like at least I can help my little corner of it.

The second reason for the growing tendency to buy American is a duty of patriotism that many are starting to feel. Suddenly we are no longer the shining light on the hill to the rest of the world. Our own economy sucks and we want to pull it out of the sewer not only to help ourselves but to restore that feeling of pride many of us grew up with. The only thing that seems to keep getting in our way is the politicians, on both sides of the floor.

When I was in the process of buying my first grown-up car, there was no way I was going to buy American. Everyone - whoever everyone may be - said that American made cars were not as well made as German or Japanese cars. At that point I bought a Honda and was pleased. Even though I now have several Japanese and German cars sitting in my driveway (teenagers, you know), I think my next car will be made in the USA.

My dad has always owned a Chevy, because if you were growing up with a flat-top in the 1950's you had to drive a Chevy. My dad still has a flat-top and always buys a Chevy. He recently bought a 1969 Camaro. As he would say, its his only investment holding its value.

In the next week we will be doing some in-depth focus group research on some of these issues. If any of you have something you would like us to add, just let me know.