The Next Big Thing: Exploring Tomorrow's Consumers

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How will future consumers think and behave

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The Next Big Thing: Exploring Tomorrow's Consumers

  1. 1. The Next Big Thing Presentation to IAA, 03.10.13 William Higham, Next Big Thing
  2. 2. What will motivate the consumer?
  3. 3. Influencers Current Global Politics economy Big Business Saving Money Environment Future Economy Greater Efficiency Increased Data Constant Connection Comfort Stability Security
  4. 4. Seeking value Motive #1 Price Budgeting Comparison Free Shared
  5. 5. Seeking value Motive #1 Security Convenience Trust Frictionless Quality Compatible Privacy Simple Safe Storage Curated
  6. 6. Seeking control Motive #2 Purchasing Little influence over events Finances Declining trust in institutions Fear of what’s to come in future Skills Career Health
  7. 7. Recession Generation YESTERDAY TODAY TOMORROW Paranoid Parenting Greater Fear Planning Parental Hedonism Less Hedonism Seriousness Recession Less Spending Saving “The recession‟s created a frugality and conservative approach to investing in them they‟ll carry through their lives” Mintel “We are endlessly trying to upgrade ourselves.” Kim Ju-Min, South Korea “Geek means dirty glasses and computers?? That‟s out! Now, SMART is the new sexy!”, „ Young blogger, China “I definitely see a return to more conservative moral values.” Sigurd Kjelgaard, blogger, Berlin feel motivated by learning new skills and find empowerment in discovering things on their own.” Box 1824 Agency, Brazil “
  8. 8. Seeking ‘belonging’ Motive #3 Roots Heritage Tradition Old Skills Locality Neighbourhood City / Region Country Families Jigsaw Families Famwiches Home Sweet Home Friends Framilies Acquaintances Community
  9. 9. Seeking calm Motive #4 Economy Data Overload Product Turnover FOMO Constant Connection Famwiches Culture Of Fear Volatility Longer Hours Distrust OverMarketing Uncertainty RELAX! More Fear Greater Uncertainty More Data Even Longer Hours
  10. 10. How will the consumer behave?
  11. 11. Predicting Behaviours INFLUENCERS MOTIVATORS BEHAVIOURS Volatility Calm Leisure Fear Belonging Purchase Empowerment Control & Budgeting Value Media
  12. 12. Leisure Behaviours MOREPLEASURE COMMUNAL INTERACTION FESTIVALS RETROLEISURE TELEVISION PLATONIC DATING STATUS PAMPERING EXCLUSIVES HEALTH/FOOD HEALTH/FOOD CONSERVATI VE
  13. 13. Purchase Behaviours What Human FutureProofed Connoisseur Why Where How Trust Online Virtual P2P Offline Subscription Brand Virtual Access
  14. 14. Media Behaviours Choice Both/And Forever Flux Hybrids On-Demand
  15. 15. Media Behaviours Convenience Curated Simple Intuitive Brand Aid
  16. 16. Media Behaviours Social TV
  17. 17. Media Behaviours Digi Detox
  18. 18. What are the key trends?
  19. 19. Community Control Comfort Trust Choice Convenience Belonging Customisation Simplicity Locality Price Relaxation Families Security Humanness Social Status Knowledge Detoxification
  20. 20. Community Control Comfort Build ‘Brand Family’ Empower & Smooth The Assist Journey
  21. 21. Thank you William Higham Consumer strategist, futurist, author & CEO 020 3542 1900 www.next-big-thing.net The Hub, 5 Torrens St, London EC1V 1NQ 07710 452962 william@next-big-thing.net @nextbigthingco

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