As we delve into the tenth edition of Canvas8, a global leader in behavioural insights, annual Expert Outlook report, let's explore the key takeaways for brands to take note of in 2024.

Canvas8 (2023)

The Central Message: Anchors in a Chaotic World

The overarching theme for 2024 revolves around the concept of "Anchors." In a world marked by rapid technological advancement and uncertainty, consumers are searching for stability and grounding in their lives. Even as they navigate the ever-changing and temperamental nature of reality, they seek connections and leadership that can anchor them.

India Doyle, Editorial Director at Canvas8, says: "Amidst a sense of anarchy and turbulence, people are looking for connection and leadership that roots and directs them through a temperamental reality."

Eight Consumer Behavior Challenges for Brands in 2024

The Expert Outlook 2024 report identifies eight critical challenges that will shape consumer behaviour and brand-consumer relationships in the coming year:
1. Global Boiling Point: Living with extreme heat sparks a new climate, culture, or war.
2. Economic Polarization: People struggle to maintain control over their finances.
3. Cultural Detachment: An overload of information makes consumers less committed to products and places.
4. Rogue Leaders: Volatile leadership creates a sense of anarchy.
5. Anti-human: A sense of human devaluation drives unrest.
6. Diversity, Equity, and Inclusion (DE&I): The failure of DE&I initiatives erodes trust.
7. Synthetic Reality: Artificial intelligence intensifies cognitive stress and challenges perceptions of truth.
8. Cyber Vigilantism: Digital security concerns foster technophobia.

Brands as Anchors: Navigating the Challenges

For each of these challenges, Expert Outlook offers strategies for brands to act as "anchors" for consumers. It provides insights into how brands can address these challenges, stabilise consumer relationships, and guide them through an increasingly turbulent world.

A Sectoral Perspective

The report includes an in-depth analysis of shifting consumer behaviour across 15 sectors:
💄 Beauty
📈 Careers
🫶🏼 Citizenship
💬 Communications
🥪 Eating and Drinking
👖 Fashion and Style
🚗 Getting Around
🏃 Health and Fitness
🏡 Home and Relationships
✨ Luxury
📺 Media and Entertainment
💸 Money
🛍 Shopping
📱 Technology
🌴 Travel and Leisure

Expert Outlook equips brands in these sectors with tailored insights to tackle the challenges specific to their industries.

Methodology: Insights from the Experts

To compile this report, Canvas8 engaged with 49 experts across the 15 sectors. We cross-analyzed prevalent themes from expert interviews with our own sector-specific behaviours and macro behaviours.

Canvas8 analysts mapped key drivers, tensions, and trend trajectories shaping consumer behaviour in 2023. The report surfaced the most prevalent themes through thematic clustering and generated executive summaries.

As we look toward 2024, brands must prepare to be the "anchors" that consumers seek in an increasingly chaotic world. By understanding the challenges ahead and adapting their strategies, they can continue to thrive and provide consumers with the stability and guidance they crave.

Expert Outlook 2024 is a valuable resource for brands looking to navigate the dynamic landscape of consumer behaviour in the year ahead.

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