Consumer Insight: The consumer is changing

Throughout the ages change has been the only constant and so is true for our times. Consumer will keep on changing and so will us.  I was going through the change reports for 2009 published by many sources and noticed few key changes in the behaviour of consumers, here is what i gathered:-

  • Hope: hope has always been one of the key motivator which marketers have utilized. On top of my head Orange – Future is orange is one such campaign that hints towards the brighter tomorrow. But now hope has reached to a new dimension. It has become universal and human; it is these days called Obama. I understand that in the mid of crisis and in the face of uncertainty all of us need the psychological morale booster. But hope has never been so universal before both in terms of craving & symbolization!
    • In my past mail about technology and tribal culture I mentioned that tribes have gone beyond the definition of demographic variables so does this mean that the largest upcoming tribe is a tribe of realistic optimists who believes in YES! We can

 

  • Green is no more a fashion statement: it is the need of the hour In the face of limiting resources, shaking consumer confidence. People are actively revisiting their wardrobes and houses to re-use the items they discarded in the age of surplus. There are sites that are actively propogating this http://www.recycle.co.uk/  and a rent-a-tree ad by IKEA are good examples of being green in turbulent times.

 

  • All for all: consumers’ are constantly exchanging information and reviews about everything that is coming their way to inform and update others. And it is affecting everything in their purchase. According to many surveys across the globe recommendation from a personal source is the strongest decision influencer.  This in a nut-shell makes word of mouth the most important communication tool. And with the transparency of social media   it is getting very tricky to manage it.

What does this mean?

For advertisers & marketers:

Say no to Indulgence: It is time for industry to change the way they have been selling indulgence. It doesn’t work anymore.  People are now seeing beyond the shallowness of indulgence and they really value responsible, honest and ethical organizations. 57% of consumers have recommended a company on the basis of its responsible reputation

People seek knowledge not a pitch: observe how social media is evolving, people are sharing meaningful comparisons and knowledge with each other. Though it is difficult to manage but this paves a room for companies to start creating room for true comparisons on their sites and ads.

For Governments:

Engage people towards a sustainable and responsible society: Consumers are far more receptive today than before for a positive change and this is the chance for Governments to use the power of people to develop the nations. And it applies to all spheres from credit card usage to managing elections.   

A campaign that I would like to share that addresses all the points I mentioned in my post. The campaign is Jago re (wake up) by Tata tea (an Indian tea brand) for details please click http://www.jaagore.com/

 

Additional resources:

  1. Change bites by Bates
  2. September 2009 briefing by trendwatching  
  3. Trends predicted in the beginning of the year 2009 by Euro monitor
  4. Landor trends reported in February 2009

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