Richard Cope of market intelligence agency Mintel, recently presented 7 Key consumer trends for 2017 at a Marketing Institute breakfast briefing.
Right Here, Right Now
Aided in part by the rise in popularity of geolocation technology, we expect brands increasingly to help consumers decide what to buy, watch, do or eat based upon pending time frame from the next 30 minutes to the next 48 hours. Impulsive location based purchases appeal to both savvy and luxury goods shoppers. In an increasingly 24 hour society marketing “off peak” is becoming more doable.
2. Seamless Spending
Growing consumer confidence in contactless payment systems will lead to a greater number of businesses embracing digital payments and more impulse purchases thanks to the financial fluidity they offer. 42% of ROI customers are using contactless payments more in 2016 than 2015. 3 billion contactless payments were recorded by VISA in the year to end Apr 16.
3. Talking Shop
As the software that powers platforms such as Snapchat, WhatsApp and Facebook
Messenger improves and becomes more nuanced, these forms of communication will mainstream in the customer service sector and we’ll see people increasingly speak easily to brands. This of course means expectations around response times will increase and a consistent brand tone of voice will be important. It could offer potential in areas where embarrassment or confusion are prevalent.
4. The Sweet Hereafter
After Finland, Norway, Hungary and France, the UK is the latest European country to declare a sugar tax, signifying a growing challenge for European brands: namely how to deliver the future of sweetness going forward.
5. Cultural Social Responsibility
Public funding in Europe is in crisis and Europe contains the highest level of UNESCO World Heritage sites. Brands are stepping in to fund restoration and repairs! Brands will need to pick projects that closely align with their identity and transparency and honesty will be crucial to set sceptical minds at ease.
6. Ascending Africa
Africa’s rising GDP and improving infrastructure are making it an increasingly credible and powerful trading partner and Europe will start to buy in to and reach out to the benefits of Africa’s growing middle class and rapidly improving connectivity.
7. Airpocalypse Now
Air pollution is harming us right now and consumers will start investing more in pollution protection products, whilst brands endeavour to be part of the solution, not the problem.
So what about you and your business? What trends do you think will impact your industry/sector the most? There are many opportunities for brands to embrace these trends and grow their business by delivering products/ services that address the consumer need more effectively than your competitor does!