FIVE PLUS CONSUMER TRENDS IN 2023

Posted on 3 February, 2023 by D John

Changed by the epidemic. More environmentally conscious. Health and well-being focused. Increasingly demanding. Besotted by technology.   The observation that the world is changing faster than ever is hardly news. The fact remains, however, that the environment in which business operates and the nature of the consumer business wants to do business with is changing […]

• Changed by the epidemic.
• More environmentally conscious.
• Health and well-being focused.
• Increasingly demanding.
• Besotted by technology.

The observation that the world is changing faster than ever is hardly news. The fact remains, however, that the environment in which business operates and the nature of the consumer business wants to do business with is changing faster than ever, and the impacts on marketing and business more broadly will be increasingly profound.

Successful strategies account for the environment in which they are to be implemented. Successful strategies are informed by consumer insights and address the opportunities the environment presents. This missive provides insights into the year ahead and highlights opportunities that wise strategy might address.  

INSIGHTS

CHANGED BY THE EPIDEMIC.

Much has changed as a result of the COVID-19 pandemic. A paper published by McKinsey and Company, ‘How COVID-19 is changing consumer behaviour –now and forever (and written by Sajal Kohli, Björn Timeline, Victor Fabius, Sofia Moulvad Veranen), notes that in many cases, these changes were accelerated by COVID, with:

• Online delivery moved forward ten years in 8 weeks.
• Telemedicine growing ten times in just 15 days.
• Remote working growing 20 times during the crisis.
• Participants in e-learning growing by 250 million in 2 weeks.
• Online entertainment enjoying seven years growth in 5 months.