Global General

Special

Newsmaker

Asia Pacific

America

Middle East

Europe

Africa

Vampire piggy bank urges Finns to spend amid recession fears

(Agencies)
Updated: 2009-01-22 12:44

HELSINKI -- A provocative advertising campaign featuring a piggy bank with vampire fangs is urging Finns to continue spending despite fears of a recession and daily news of lay-offs and job cuts.

A provocative advertising campaign featuring a piggy bank with vampire fangs is urging Finns to continue spending despite fears of a recession and daily news of lay-offs and job cuts. [Agencies]

Related readings: Obama tackles recession, war and ethics on day 1 Recession an opportunity for economic transition China key to easing global recession Recession woes hit world markets

"The campaign does not encourage Finns to increase spending, but to continue spending as usual if possible," said Jukka Kurttila, chairman of the marketing agency Bob Helsinki which designed and paid for the campaign.

"For 90 percent of Finns, there is no need to reduce expenditure," he said.

On posters plastered around the Finnish capital, a pink piggy bank has a stern gaze and drops of blood dripping from its vampire fangs, with slogans such as "Don't feed depression by saving" or "Saving is not always a good thing."

And in a short film, excerpts of which are running as televised ads, "economic depression" is portrayed as a pet requiring attention and sacrifices in order to grow. When the family buys a new hybrid car and pizzas, the depression dies.

The campaign has been financed by Kurttila after he read about a survey by Etla research institute last October, which showed that 39 percent of Finns had reduced their consumption even though the economy was still doing alright.

"It has a significant impact on the Finnish economy if 40 percent of people decide to save money," he said.

Others have been equally worried about Finns' eagerness to save.

In addition to economic research institutes Etla and Palkansaajien Tutkimuslaitos, daily newspapers Helsingin Sanomat and Kauppalehti and department store chain Stockmann have flocked to join the campaign.

The global financial crisis has dented Finnish companies' demand and firms such as paper maker Stora Enso, engineering firm Metso and tyre maker Nokian Tyres have announced massive job cuts.

"On no account are we saying that if you are in the lay-off process, you should continue spending as usual. In those circumstances I would decrease consumption too," Kurttila noted.

"We're calling on people to think rationally about their approach to recession," he said.