With the outlook for 2012 not exactly optimistic, I’ve dusted off my crystal ball to try and see what the next year hold for brands, marketers and consumers.
The continued economic trouble will see will see consumers continuing to become more careful - which for people with little will mean an everyday focus on best value and for the better off will be more thrift and localism. Everyone will be looking for comfort or escape as well as some sense of hope. I think people will become quite cynical and will wish for a greater sense of community and support but will look after number one - this will translate into even further decreasing brand loyalty and continued "forced experimentation" to get the most from your cash.
Supermarkets will maintain their push to appear on the side of the consumer, with the public either sticking with supermarket closest to them because they will be less able to afford to drive to a cheaper one or favouring the more budget supermarkets if they are within close proximity. We anticipate a return to make it yourself food and there may be a push to support local shops in the light of the recent Portas Report, provided the price differential isn’t too great.
As times get tougher mental health may become more significant for the mainstream and brands might reflect this - expect wellbeing to emerge with a harder more urgent edge - functional foods for the mind (fighting depression and dementia as much as cholesterol and cancer).
We also see brands that continue to innovate and add interest in small areas (new flavours. new tastes, new ways of cooking) appealing to consumers as a way of spicing up their everyday lives in small (cheap) ways and as alternatives to more costly eating out. Brands in some categories may have to rethink how and why consumers buy their products and adjust to ensure they ride the tough times.
Culturally we will continue to be increasingly mobile, less patient and more stressed. The mobility will increase. The fact that I can put money on my pay as you go mobile phone and pay for shopping with it also means brands should be able track exactly what consumers are doing and therefore more accurately market their products.
Brands will need to stay close to their consumers and to see where consumers are lapsing in their purchasing. It may be a time for brands to revisit fundamental questions about their relationship with their consumers in an effort to consolidate existing customers but more importantly build a new base as well. Research into why buyers buy, why people stay loyal or move away from certain brands during periods of austerity and why some people have never bought particular brand will provide a level consumer understanding that could inform post-recession planning now.
In the marketing and research sectors we anticipate pressure to drive more value from every project; engaging consumers to get better data and therefore understanding, which ultimately enables us to inspire marketing teams with our 'voice of the consumer' to make better, more successful products. In a recession price becomes a dominating factor, leading to further heavy promotions. Brands, though, can be better served understanding the more subtle drivers of purchase to be more profitable, as well as the obvious BOGGINGOFF that we know and love. We are likely to see brands going into more in depth in their understanding of consumer drivers of purchase.
Apparently there’s also going to be a big sporting event in 2012. We will see lots of Britishness coinciding with the Olympics and I think brands will interpret this in lots of different ways from the reactionary (Rule Britannia nostalgic values) through the inclusive (modern multi-cultural Britain) to the purely aesthetic (Union Jack everywhere) also linked with our floating off into the Atlantic away from the EU. But the Brit's love affair with exotic products, tastes and new brand experiences will continue so innovation will remain key - it is a constant in the nation's ever evolving DNA. The biggest game, though, may be to spot the brand with no link to the Olympic Games and to see whether anyone really suffers because of non-association.
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