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Consumer Trend: New Experiences
 

Consumer Trend: New Experiences

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    Consumer Trend: New Experiences Consumer Trend: New Experiences Presentation Transcript

    • TREND WHEEL 2007 New Experiences Presented by Samuelle Beauregard
    • “All truths are easy to understand oncethey are discovered; the point is todiscover them.” Galileo 2
    • Consumers are looking for new experiences 3
    • Consumers are on the look out for novelty, adventure, fun and passion To feel alive To discover and learn To try new challenges and adventures To define themselves To enrich their lives, to aspire for more To relax and escape from life’s pressure In the case of young men: Lifestage It is available It is permitted And mainly because, in our society and time, they CAN: It is tempting It is affordable 4Source: Consumer Outlook, men 21-29 2006, Rob Tregenza, IconocultureAnd Sean Saraq
    • Definition of experience• To be exposed to, involved in, or affected by an object, thought, or emotion through the senses or mind:  Active participation in events or activities, leading to the accumulation of knowledge or skill  The fact or state of having been affected by or gained knowledge through direct observation or participation  An event or a series of events personally encountered, undergone, or lived through 5Source: Merriam Webster dictionary online
    • Main buckets to classify new experiences Discovery Relax andand learning escape These needs are interrelated Search for intensity Adventures and merit badges 6
    • Discovery and learning• Medias’ global presence and the instant and easy access to worldwide information provided by Internet are opening the door to see how other people and other cultures are living. Consumers are intrigue and want to know more. 6% increase in number of • Traveling is increasing, importation of goods Canadian residents returning from other is growing: consumers want to feel these countries (except USA) between January to June of new influences both inside and outside their 2006 vs 20051 homes. • More consumers are pulling their lifestyle influences from all cultures rather than just their own and multi-cultural audiences are defining mass consumption2. Hip-hop Growth of SPI Consumers in general, and Millenials even more so, have an insatiable curiosity and hunger for exploration and experimentation. 7 Sources: 1Stat Can, International Travel, Vol.22, Number 6, aug.2006 Spread of ethnic foods 2 Iconoculture: Get to know the YoCo, sept.2005
    • Discovery and learning • There is increased interest in learning about product origins and stories. Consumers want to know if the product is authentic (more to come about this), if it will suit their needs and they also want to appear knowledgeable to others. So, customized drinking is increasing FACTORY TOUR BY RIEDEL - THE WINE GLASS COMPANY • Tasting new products inspires consumers, especially if they appear trendy: There is a new level of experimentation within the alcoholic drinks industry, and higher income consumers are keen to jump on board, and pay the premiums «On ne vend plus que ça: associated with the latest cocktail or expensive new des Red Bull Vodka» brand. Drinks as status symbols and the top-end bar - Owner of a dance club2 culture are just two examples of the exclusivity trend in action. Magnificent Seven Drinks Trends, 20061 • For trendsetters, discovery of new cool brands is also a way to influence others.Sources: 1 The ‘magnificent seven’ drinks trends to 2012, Helen Lewis, Just drinks, July 2006. 82 «Red Bull: linvraisemblable succès dune boisson rouge», Gabriel Sigrist, http://www.largeur.com/expArt.asp?artID=63
    • Discovery and learning • Brands act as social symbols for some consumers who want to try them in order to experience the image conveyed by the brand. 9Source: www.harley-davidson.com
    • Discovery and learning • The number of jobs one will have during his lifetime has increased. In the 1970s, the average was 6 jobs per lifetime. The current average is 101. Millenials change jobs 6-7 times before they reach 30 years old. If they are not happy at their current job, not learning anymore, not challenged: they hop to another company. Adaptation to new environment and new people is not an issue: they love it! • LDA-29 are enthusiasts towards consumption2: They find satisfaction in the buying experience They have a desire to be the first to try out a new product or service They are on the lookout for all things novel, unusual, trendy They feel an attraction for gadgets To try what other people/ cultures To try what no one has tried before OR had the chance to try before 10Sources: 1 Nimble Careers, Genevieve Paiement, En Route Magazine, January 2007, p.392 CROP, 3SC 2005 Edition
    • Relax and escape When combining challenge with forgetting for a moment life’s pressure, the door is open for drinking games: On a recent lunch break in Minneapolis, we observed a mixed group of 20somethings engrossed in a Red Bull drinking contest. Iconoculture1• Trying new tastes in food and beverages is a way to easily and readily get into a different mood set. Part of this trend is the mood- enhancing ingredients that are added to some beverages2. Nestea’s Green Tea Ice tea with… Line Catches-up with cannabis! Consumer Tastes3 Sources: 1 «Millennials stage Red Bull drinking contest on their lunch hour», Iconoculture, March 2006 11 2 Iconoculture, Synestesia trend 3 «Nestea’s green tea line catches up with consumer tastes», June 8, 2006 on www.foodmall.org
    • Relax and escape Also, consumers are placing greater importance on fun and leisure. (…) Americans are looking for what we call the “Joy Factor.” This is the idea of placing more value on leisure and fun pursuits, and embracing the philosophy of ‘if it’s not fun, why am I doing it?” Kathy Sheehan, Senior VP, GfK Roper Consulting1 • Playful and sociable brands offer new experiences that are amusing. • Consumers appreciate established brands for the safety they provide in experimenting. • Some use creative marketing to involve consumers2. http://www.jumpcut.com/view? id=D2DA87F0832911DBAA19266C9A2E700D&b_id=1FE7BE2457D211DB9D601 EE329CBD869• Some well-known brands also provide and instant powerful image consumers can project to others3. http://www.youtube.com/watch?v=86PXE-zM_YoSources: 1 «Q&A with Kathy Sheehan, SVP, GfK Roper Consulting», American Marketing Association, 12Oct.2006 on http//marketingpower.com2 and 3 are from Sean Saraq, Cossette, including the Doritos and Lynx examples: thanks Sean!
    • Relax and escape• There seems to be ‘unprecedented interest in understanding, appreciating, and stimulating the senses; creating products and environments with multi-sensory blending of sight, sound, smell, taste, and feel. Consumers gravitate toward experiences that challenge and stimulate all their senses’. But it’s got to be the way guy’s like it! Look at men’s spas • The ‘total’ experience is one that involves all senses procuring thrill and sensations never felt before. Brown Sugar Scrub Sports Massage Muscle Meltdown Massage 13
    • Adventures and Merit badges• Consumers are looking to live intense and unusual adventures.• Finding the undiscovered, unearthing a hidden treasure, learning the exotic is all part of getting the prize.• Curiosity about these intriguing adventures is also part of it. Stunt School Tattoo & piercing Trekking in Australia• Consumers can express their own personality by the choice of activity.• To make their life interesting and even, sometimes, to give it a purpose. 14 Volunteer work
    • Adventures and Merit badges• Enjoying those experiences might be easier than taking on real life challenges who have a permanent effect (leaving school to get a job, move out of family house).• It gives them a feeling of enjoying meaningful and energetic lives.Activities providing competition,adrenaline and speed are popularamong Millenials3• And it gives them something to remember Don’t forget: without ‘the others’ seeing, and talk about! tasting, hearing or smelling your skills, Maxim Golf without the inevitable story-telling, there shall not be any status coming thy way! Trendwatching1 Great party = Spontaneous events and adventures or misadventures… Youthography panel on Canadian parties2 Sources: «Status skils», Trendwatching, sept.2006 1 15 2 «Partying in Canada», report from Youthography, July 2006 3 Cross sports pump up the adrenaline factor of already-extreme activities, Iconoculture, April 13, 2004.
    • 18-29 years old : Profile mainly focused on intensity • Importance of sharing intense emotions with others Whether with close friends or in large crowds with whom they share strong emotions • Pursuit of intensity, strong sensations For young men: more extreme Violence and action are an outlet, a release from stress They like taking risks for the thrill it gives them • Freedom and permissiveness Bypassing laws when need be Sexual permissiveness 16Source: CROP 3SC 2005 edition, Sociocultural Profile of Young Canadians (18-29 years) .
    • Search for intensity • In search of intensity in the boredom of their lives, some consumers take Hardship holidays where they come up-close and personal with extremely intense experiences. • Mixing adrenaline-pumping moments with the feeling of crossing society boundaries can become the ultimate hit. http://www.incredible-adventures.com/ • There is in this extreme part of new experiences. 17Sources: 1 Daring tourists seeking extreme experience on their days away, Iconoculture, October 11, 2002
    • Conclusion of New Experiences Trend • There are four aspects Discovery & learning Relax & escape Adventures & merit badges Search for intensity • Some of the best new experience are located in the and bring instant gratification. These experiences need to be easily and readily accessible. Discovery & learning + Relax & escape • Some of the most challenging and meaningful experiences come from a a longer term focus and are recognized because of the determination you need to complete them. Adventures & merit badges + Search for intensityTurn on the volume of brand experiences: This is an experimental generation that likes to try new things, even (especially?) if it means pushing the envelope. Iconoculture Brand stories Close to what men value Innovate Experiences that don’t just tie-in, they A bit of subversion elevate the brand status In media placement too 18