From cost-conscious shoppers turning to budgeting to Gen Zers shunning traditional career paths and worldwide music fans seeking emotional refuge, brands are helping audiences navigate instability and uncertainty. Here are the top ten insights and behavioural shifts that got us talking in April.
💰 Cost-conscious shoppers turn to budgeting - the cost of living crisis and rising inflation has made people hyper-conscious about money, leading many to look for ways of better managing their finances. Helping savvy shoppers improve their financial literacy skills can allow them to feel empowered and supported during economic uncertainty.
🏠 Homebuyers prioritise affordability - companies are developing alternative housing solutions for those struggling to get on the property ladder as the US housing crisis intensifies. Flexible housing structures and shared living arrangements appeal to a new generation of homebuyers, providing next-gen solutions to new ways of living.
📱 Screen-fatigued people turn to dumb phones - drawn in by the idea of returning to simpler times and a desire to escape constant doomscrolling, young people are looking to limit screen time and are turning to older technologies. As awareness around the negative effects digital devices have on mental health grows, digital detoxes and simpler tech are providing people with a way out.
📍 Gen Z shun traditional career paths - research suggests that young people are shunning traditional forms of authority and are forging their own career paths to combat feelings of instability. As higher education is increasingly being seen as unnecessary, helping Gen Zers redefine work and careers on their terms will help to shape the future of work for this young cohort who lead with their values.
👜 Young consumers' luxury values shift - as Gen Zers have entered the luxury market and show a keen interest in the value of high-quality, exclusive brands, this generation’s demands are moving beyond the traditional paradigms of luxury. Luxury brands are now tapping into digital innovations, sustainability and authenticity to meet the demands of this audience.
🍽 Britons celebrate caff culture - as London’s caff culture emphasises community and comfort eating mixed with a hint of nostalgia, new demographics are embracing London's historic caff institutions. Social media platforms are allowing a new and diverse set of consumers to engage meaningfully with historic and heritage brands, expressing notions of national pride in non-contentious ways.
🎶 Music fans seek emotional refuge - Fred again.. is an electro-pop producer whose emotionally charged dance music has the ability to connect with fans worldwide, providing listeners with emotional refuge in moments of hardship. As digital spaces can help artists foster intimate connections through real-time participation, meaningful parasocial relationships are driving greater fan engagement.
⚽️ Amateur sports enthusiasts grow in the UK - netball in the UK has been attracting a growing following, with the success of the English national squad and the proliferation of netball clubs seeing the number of fans and participants surge. As inclusive sports appeal to wide-ranging age and gender demographics, celebrating diversity and promoting positive figures in sports can help people to get active and find connection and community.
🔮 Astrology lovers buy with their beliefs - Starbucks has partnered with the mobile app Sanctuary to match customers with the perfect drink for their spring horoscope. The collaboration highlights emerging opportunities for personalization while providing an example of how to relate with people through moments of shifting faith.
📈 Customer loyalty is up for debate - the spectrum of loyalty and habitual purchasing is constantly evolving when it comes to consumer-brand engagement. With some shoppers sticking to a particular product because it’s satisfactory and familiar, while small changes to a product or packaging can inconvenience others, understanding what makes consumers loyal when facing choice overwhelm is a key factor to keep them coming back for more.
