When building your marketing strategy you always need to take the temperature of the marketplace. When you do, you'll find ways that you can fit beautifully.
That fit allows you to serve your customers better.
That fit allows you to make a profit.
That fit allows you to create a business that grows.
In this post, let me share with you the key trends coming out of the Consumer Trends to Know for 2022 from amazing research company GWI (www.gwi.com).
Trend #1 - The Pursuit of Purpose
The first trend is a direct result of the pandemic. People have had much more time to reflect on life as it had been lived.
What's emerging now is "The Pursuit of Purpose".
There are 16,790 days from becoming an adult to reaching retirement. Time is too short and fragile to be wasted!
People are starting to take back control, and as a result there has been over a 55% increase in consumers feeling more optimistic about their personal finances. Post-pandemic, security and stability are no longer enough to keep employees content. People feel empowered and confident to challenge the status quo and pursue what truly brings them joy, even if that means sacrificing stability.
Does it impact your specific customers or employees? What are you doing to turn this trend into an opportunity?
Trend #2 - More Than Skin Deep
This trend directly impacts the Beauty Industry, as society realises that we are more than skin deep.
The pandemic redefined the beauty landscape, without the steady hands of a professional, consumers’ beauty regimes were left up to them. With time on their hands, consumers actually had a chance to find their own look; to “be themselves".
34% of males feel more confident about their looks than they did pre-pandemic.
My own beauty regime is down to two products that make me look presentable enough for Zoom!
Trend #3 - The Attention Recession is already here!
This trend directly impacts the how we consume media and the idea of the Attention Recession.
The sheer volume of COVID coverage may have been detrimental to News Media.
All age groups want more positive news stories.
There's a sharp divide between younger readers, who want more global coverage, and older readers, who prefer stories with a local focus.
Gaming has drastically overtaken TV. It has thrived, in part, because of its hybrid social and competitive online spaces.
Audio of all kinds is thriving. In fact, music streaming is the only media type to be outperforming its lockdown peak from Q2 2020. The podcasting landscape has changed too, as domestic contexts are now more important than commuting for podcasts.
Screen fatigue means we will work in a more hybrid way. Google traffic for eye strain has hit all-time highs.
Attention tension is real. Add value to someone's life beyond capturing attention.
Trend #4 - A Virtually Imperfect Life
This is one I'm glad to see emerging. It seems we're starting to get a real taste for depth and authenticity. Beware of curated imperfection though. That's a trap many have fallen into.
Some audiences are trying to close the chapter on perfection. Gen Z are powerful trendsetters here. They are growing tired of “picture perfect” posts and the curated self we’ve come to know won’t have the same impact it once did.
Every age and gender is seeking deeper conversations. Sharing physical and emotional struggles doesn’t tarnish influencer profiles.
Filter-free is more authentic. Since 2020, Europe and North America have seen a drop in Instagram, Snapchat, and TikTok users applying filters. Avoid curated imperfection – authenticity isn’t an aesthetic that can be mimicked.
Spontaneity and realness will stick around – businesses stand to benefit from tapping into the casual posting trend.
Trend #5 - At Your Best
The fifth key trend coming out of the Consumer Trends to Know for 2022 from research company GWI revolves around how consumers are taking control of their wellbeing.
Another one I'm glad to see emerging. Where both mental and physical wellbeing is not just a personal priority but a business one too. In fact there's a huge amount of investment coming into this area from a tech perspective. If you're in this industry, take note. Use the insights to understand your customers better and provide opportunities to help them prioritise self care.
How we think about health is shifting. How can I prevent illness and stay healthy?
Mental wellbeing is in decline, and young people in particular have been disproportionately affected. Disruptions to education, life experiences, and uncertain job prospects, paired with existing financial burdens like student debt, have all weighed heavily on young people.
Mental health hasn’t just become a personal priority, but a business one too. Working from home helps, and it’s not something many employees want to give up.
Prioritising employee wellbeing is a must. 47% of professionals want their company to provide more flexible working and 28% want them to provide support services.
Self-care is a necessity, not an indulgence. Consumers are developing a self-care toolkit of sorts, so that they’re armed for whatever life throws their way.
Mind, body and digi-health – Funding in telehealth continues to break records, reaching nearly $5 billion, up 165% year-on-year.
How leaders behave matters, as we can move from a culture of addressing health problems as and when they crop up to taking proactive measures to reduce or stop them from happening in the first place.
Trend #6 - To the Moon...
The sixth and last key trend coming out of the Consumer Trends to Know for 2022 from research company GWI revolves around Cryptocurrency and it's meteoric growth over the last few years.
It's an interesting one as cryptocurrency becomes more acceptable than it's fringe roots. Did you know that unlike traditional banks, you didn’t even need to have an address to trade in crypto; all you needed was an internet connection. That's set to change now.
It's future has never been so unclear, yet analysts estimate that the global cryptocurrency market will more than triple by 2030.
What started out as a fringe movement has, like so many other things, gone corporate as a result of its own success - an investment by Tesla caused the price of bitcoin to jump 20% in a single day, and 50% of crypto investors would be comfortable using it to pay for online shopping.
There are mixed feelings about regulation – cryptocurrency has been allowed to spread as a uniquely decentralized financial asset.
It could be seen as an opportunity for brands, as building trust and credibility in the crypto-space is easier if you’re not a government entity.
What the future holds is still unclear, but one thing is certain, the market in 5 years’ time could be just as unrecognizable to us now as the market was 5 years ago.
If you have anything you’d like to add, please comment here. I'd be delighted to engage with you on this topic.
