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CONSUMERS | 10 consumer trends & brand Implications

1.    Heritage Growing cultural pride and patriotism are influencing consumer preferences.

 

Brand Implications An international name will not sufficiently appeal to consumers seeking to connect with their Indian roots. Consumers will want cultural references.

 

2.     Health Concern about health and wellness, and suspicion about product safety, is turning consumers toward natural ingredients in the food and personal care categories.

 

Brand Implications The natural ingredients trend will spread to categories beyond food and personal care, as mindful consumers make safety a key priority.

 

3.     Authenticity Enlightened by their own online research, consumers are becoming more skeptical about manufacturer claims and are looking for trustworthy brands.

 

Brand Implications Product claims alone—the “what”—will not satisfy consumer curiosity. They need the “how,” the backstory about the supply chain—sourcing to distribution—that authenticates the brand’s claim.

 

4.     Relatability Consumers judge the authenticity of a brand in part on their perception of the brand advocates.

 

Brand Implications Communicating authenticity requires moving away from traditional celebrity advocates, who can make brand claims seem “airbrushed.” Consumers respond positively to stories about real people who have surmounted real challenges.

 

5.     Speed The constant assault of digital data has reduced the consumer attention span and complicated the task of getting consumers to focus on a marketing message or content.

 

Brand Implications Marketers need to get to the point—quickly. Words still matter, but visuals captivate. Done well, visuals grab attention and deliver the information before the consumer loses interest.

 

6.     Social Change Mass media, especially TV, traditionally have been the consumers’ window on the world, a resource for absorbing and trying to comprehend the events and influences shaping society. But that mission may be changing, with media’s current emphasis on entertainment.

 

Brand Implications Advertisers may fill this void. Although the purpose of advertising will remain commercial, advertising messages will be an important force for social change.

 

7.    Digital Life Consumers are rapidly changing how they engage with digital, shifting from being online often to search or chat, to being online all the time, seamlessly moving among activities, including purchasing and payment.

 

Brand Implications This change in consumer digital behavior will influence what and how consumers buy. It impacts how and where marketers reach consumers and communicate with them.

 

8.    Mindset Consumers are as old as they think they are. Traditional demographics, like age, are less relevant than shared interests, activities, and values for identifying and marketing to consumer groups.

 

Brand Implications Brands need to identify and understand their audiences based on these new dimensions, and develop relevant products, services, and communications.

 

9.     Meaning Young consumers are less exclusively career-focused than in the past. They have more options and want to explore them. Many young people aspire to be entrepreneurs.

 

Brand Implications As young people choose a less traveled path, their search for meaning and purpose will have Implications for employers and brands.

 

10.        Entrepreneurship Young rural consumers are not driven to become young urban consumers. Rather, they take pride in their rural roots and aspire to careers that elevate themselves and their communities.

 

Brand Implications Brands, particularly multinationals, that want to expend their presence in rural India, potentially have capable partners in these entrepreneurial young people.

 

 

Source: Kantar IMRB Consumer Predictions 2017