Wunderman Thompson Intelligence’s emerging consumer behaviour predictions for 2020
An arm of Stopgap’s client Wunderman Thompson has composed a ‘future 100’ report to prepare readers for the emerging consumer behaviour for 2020.
Emma Chiu, Global Director of Wunderman Thompson Intelligence, says of the report: “A real cultural change has taken place, with purpose and transparency leading customer loyalty, while imagination is trumping data for consumer appeal. ‘The Future 100’ is a way of keeping up with the big shifts and smaller fast-moving trends, offering marketers an opportunity to get ahead.”
The report is split into 10 trend segments which include; Culture, Tech & Innovation, Travel & Hospitality, Brands & Marketing, Food & Drink, Beauty, Retail, Luxury, Health and Finance.
2020 highlights include:
The future is bright
2020 is the year of a society eager to move the conversation on from bleak, dystopic times, to an optimistic lens on the future. With 5.2 million Australians affected by stress (a 3.7m increase from 10 years ago) and difficult times in a political, economic and environmental sense, consumers have been more anxious than ever. Therefore, optimism and hope are at the forefront for these predictions this decade.
Female athletes at the forefront
Professional Female athletes as role models and global influencers will help create a new example for female strength and force a shift in social perception redefining femininity.
As consumers adopt on-demand habits and have increased autonomy on how to spend their time, streaming content has shifted the way that content is enjoyed by consumers. For brands, which have an appetite for the challenge, there is room to restructure modern life for the consumers of 2020.
An era of transparency
After a decade marked with the Cambridge Analytica scandal, the Equifax credit breach and the 2019 Ecuador data leak — consumers are losing trust in brands’ use of personal data. Consumers are demanding transparency in return for loyalty, not only with data but also with sustainable practices. This transparency also carries over to ethical production, prompted by disasters like the Rana Plaza collapse in 2013. As a result, consumers are more susceptible to purchase in line with their ethical values over luxury goods.
What do we expect?
Stopgap anticipates candidates to emphasise the value of a brand, it's sustainability and their ethical practices, as opposed to other traditional benefits when applying for new roles.
We also expect flexibility to continue to grow in importance for candidates. “Home and Away” (no pun intended), businesses are considering a 4-day working week approach to increase productivity and improved work-life balance.
Looking at clients, culture is becoming a critical criterion for a successful appointment. We predict the influence of soft skills, personal outlook and work ethic during the hiring process to increase.
If your business is looking to find ways to engage with the right candidates for your 2020 goals, or if you’re a new candidate who wants to find an organisation with the right culture for them – don’t hesitate to get in touch today.
Wunderman Thompson Intelligence's full report can be found here.