The New Whitespaces ... New opportunities in post-crisis markets

THE NEW WHITESPACES As the world emerges from economic crisis, how have markets and consumers changed? Where are the new opportunity spaces for innovation and growth?

futureagenda.org wired The Futurist 1. 1 Global patterns

West East Masses Niches Big Small Business Customers Volume Value Global patterns ... power shifts accelerated by economic crisis

•MMoney • Authenticity • Transport • Health •D t Data • Choice • Energy • Connectivity •F d Food • Identity • Waste • Migration •W t Water • Cities • Work • Currency Global patterns ... future agendas for innovation and leadership

Your phone will tell you when you’re in love People will download and print their own products Young people will read more Old people will play more Algae may become the new oil Radical methods to rebalance climate change The existence of extraterrestrial life confirmed Global patterns ... future themes and wildcards

Global patterns ... priorities for business leaders

Now & Next nVision Future Network Future Foundation Market patterns

Attitudes to risk Attitudes to spending Market patterns ... Attitudes to risk and spending

Confidence to deliver promise Market patterns ... Confidence in business to deliver their promise

Trust in businesses Trust in tech companies Trust in banks Market patterns ... trust in business and specifically banks business,

Market patterns ... strength and value of bank brands

“If we use credit cards (or phones) for paying for things then the salience of spending money is a lot lower so we tend to spend more as we don’t feel the pain of parting with cash cash. “This generation has moved from calling borrowing debit (borrowing perceived as a bad thing) to credit (a good thing)” “Previous generations saved (the Chinese still do)” Previous do) “Will the $ be replaced as the global currency... The ACU?” “Money is how we value market transactions but not social transactions (volunteering etc)” Market patterns ... everyone’s talking about future of money

1.Fi Life 2.Intuit 2 Intuit 3.Yodlee 4.Triodos 5.Enterprise 5 E te ise 6.Itau Unibanco 7.Credit.com 8.Vancity 9.SimpliFi 10.Vittana Market patterns ... most innovative financial service companies

Now & Next NowandNext nVision Future Exploration Network Future Network Trendwatching.com Trendwatching Future Network Consumer patterns

Being green Simplicity Caring about our Easy and simplify world ... my life ... Before After Before After Dislike of greed Distrust in brands Happier with what Companies cant we have ... be trusted ... Before After Before After Being ethical More real Less caring about g More wholesome, , others ... less wasteful... Before After Before After Less frivolous In control More authentic Intelligent, promiscuous Experiences ... shoppers ... Before After Before After Consumer patterns ... the impact of economic crisis

Consumer patterns ... established and emerging themes

Consumer patterns ... trends fads and fashions trends,

Consumer patterns ... welcome to the “era of consequences”

Consumer patterns ... Trend map, hotspots, risks and future map hotspots

eBay born in a recession 2001 MTV born in a recession 1981 Microsoft born in a recession 1975 HP born in a GE recession born in a recession 1929 1876 Crisis shakes markets up theGeniusWorks.com

Has the consumer changed?

“Money matters less, what you do with it matters more” less

... aka “the Burberry effect”

Has the consumer changed?

Women 1. 1 The rise of women

Women 2. 2 The rise of boomers

3. 3 The rise of net gen net-gen

Consumer broader view Business Business B i narrow narrow view view Business Customer Rethinking like a consumer ...

RESOURCEFUL PARTICIPATIVE Empowered CONSIDERED Capable Collaborative HUMAN ESCAPIST Selfless Contributing Responsible p Sharing Wellbeing W llb i Indulgent I d l t Meaningful Individualised Expressive Caring Happiness Quirky The new whitespaces ....

Fragile world Trade-offs Superficiality CONSIDERED Responsible Meaningful g Caring Social Environmental Purposeful 1. 1 Consumers are more CONSIDERED

1. 1 Consumers are more CONSIDERED ... eg Nike’s sustainable innovation

1. 1 Consumers are more CONSIDERED ... eg E cloth nanotech and friendly E-cloth

1. 1 Consumers are more CONSIDERED ... eg Iberdrola’s new energy

Practical Economic Materialism RESOURCEFUL Empowered Capable Selfless Enabling DIY Self service 2. 2 Consumers are more RESOURCEFUL

2. 2 Consumers are more RESOURCEFUL ... BestBuy enabling people BestBuy,

2. 2 Consumers are more RESOURCEFUL ... Easyjet rethinking what value is Easyjet,

2. 2 Consumers are more RESOURCEFUL ... Tripadvisor people trust people Tripadvisor,

Global Sameness Extravagance HUMAN Wellbeing Individualised Happiness Healthy Personal Provenance 3. 3 Consumers are more HUMAN

3. 3 Consumers are more HUMAN ... Starbucks local and debranded Starbucks,

3. 3 Consumers are more HUMAN ... VirginActive looking after yourself VirginActive,

3. 3 Consumers are more HUMAN ... Zipcars just when I need it Zipcars,

Tribal Connected Untrusting PARTICIPATIVE Collaborative Contributing Sharing User generated Networked Rental 4. 4 Consumers are more PARTICIPATIVE

4. 4 Consumers are more PARTICIPATIVE ... Lego connecting their fans Lego,

4. 4 Consumers are more PARTICIPATIVE ... Threadless designed by me Threadless,

4. 4 Consumers are more PARTICIPATIVE ... Current TV user-gen TV TV, user gen

Abundance Extroverted Frustrated ESCAPIST Indulgent Expressive Quirky Emotional Simplicity Iconic 5. 5 Consumers are more ESCAPIST

5. 5 Consumers are more ESCAPIST ...Nintendo Wii, changing lifestyles Nintendo Wii

5. 5 Consumers are more ESCAPIST ... Fiat 500, the new Ferrari 500

5. 5 Consumers are more ESCAPIST ... 3D movies as mad as a hatter movies,

RESOURCEFUL PARTICIPATIVE Empowered CONSIDERED Capable Collaborative HUMAN ESCAPIST Selfless Contributing Responsible p Sharing Wellbeing W llb i Indulgent I d l t Meaningful Individualised Expressive Caring Happiness Quirky The new whitespaces ....

What do you think?

peterfisk@peterfisk.com www.theGeniusWorks.com th G ni sW ks

The New Whitespaces ... New opportunities in post-crisis markets

by Peter Fisk on Mar 29, 2010

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The New Whitespaces ... New opportunities in post-crisis markets — Presentation Transcript

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