Trend Hunter favorite Philip Toledano visually documents the tragic fall from grace for many businesses as a result of the global economical crisis in his photography series, 'Bankrupt'.
"When I started shooting bankrupt offices, I found it to be more archeology than photography," explains Toledano. "Everywhere I went I found signs of life, interrupted."
Check out the gallery for the 'Bakrupt' images and enjoy more of Philip Toledano's fantastic work below.
Implications - In a time of economic upheaval, it's difficult for wanton consumerism and shopping to maintain its appeal. With so many unemployed, without shelter or the means to support themselves, it's important that businesses stay sensitive to the financial turbulence most consumers are enduring. Companies willing to shrink their profits and absorb extra costs may not improve their bottom line in the short term, but they're poised to cash-in on the goodwill further down the line.
Financial Crisis Photography
'Bankrupt' Shots by Philip Toledano Embody the Economy
Trend Themes
1. Sensitivity in Business - Businesses need to stay sensitive to the financial turbulence that consumers are enduring in a time of economic upheaval, and consider ways to support them.
2. Shrinking Profits for Long-term Gain - Companies willing to shrink their profits and absorb extra costs may not see immediate improvement in their bottom line, but they are positioned to benefit from goodwill in the future.
3. Sustainable Consumerism - Amidst the financial crisis, there is a shift towards more conscious and sustainable consumerism, as people reevaluate their spending habits and prioritize their needs over wants.
Industry Implications
1. Retail - Retailers should focus on sensitivity to consumer financial struggles and find ways to support them during economic upheaval.
2. Hospitality - Hotels and travel companies can offer flexible cancellation policies and discounted rates to support consumers during financial turbulence.
3. Marketing and Advertising - Agencies and advertisers need to develop campaigns and messages that resonate with the current economic climate, focusing on empathy and practicality.