2021 Trend report Pt 1. Macro Global consumer trends

Swipe, click and scroll are now the main reflexes to search for information among Catch Me in Seconds consumers. With improved technology, accessibility and usage, consumers can find immense amounts of information with fewer barriers. Consumers have the same capacity to process information as before but now contend with much more information to process, needing to identify the most relevant bits quickly. They are constantly seeking personalised, authentic and appealing channels. Catch Me in Seconds consumers want brands to make their information, product or service as accessible as possible in a short timeframe to compete with other demands.

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For consumers in 2021, the marketing channels that appear authentic — friends, family and independent consumers — are the growing trusted sources. Conversely, marketing channels directly influenced by a brand and its service or product rank lower in influence. Increasingly, consumers are turning to trusted sources to help sift through the immense amounts of information available and make decisions quickly.

Attention spans are not only becoming shorter, but the Catch Me in Seconds trend is also causing consumers to be more selective when sifting through considerable amounts of information in a matter of moments.

As consumers seek to engage with brands, products and services in the most authentic way, online influencers are gaining traction as an emerging digital marketing channel. Consumers typically follow influencers with similar values, trusted reviews and content that evokes a positive response. This resulted in a shift from brand-led macro influencers to micro influencers, independent of brands. This channel particularly resonates with users aged 18 to 44 years, especially in regions with younger populations.

an example of this in the real world: Fendi with Toplife China

Fendi is an Italian premium luxury fashion brand.
In 2018, Fendi partnered with Toplife, the luxury e-commerce platform established by jd.com, to launch a hybrid “drop” for its ff Reloaded capsule collection. “Drops” are similar to flash sales but are for a shorter time period or have limited quantities. The brand has continued to invest in capsule collections to be made available via the “drop” format and at a global scale. Digital innovation of physical pop-ups is popular with consumers who like exclusive and experiential shopping, through speedy delivery and advanced technologies that match the in-store experience.

Summary:
Across many goods and service sectors, what makes something premium or luxurious is evolving. No longer is price the sole determinant. Time is key and the promise of time saving is a driver of innovation and disruption, leading to new products and services. Technology has enabled companies to share more information. Consumers have the same capacity to process as before, but now contend with much more information to process.

We see brands leveraging this trend to capture attention. Through “drops,” brands are making their merchandise available exclusively for a short period of time. Here, the product is only accessible to those with not just the money, but also the time to make the purchase. For more widely available products, people are willing to pay a premium price to have quicker access.

Social media is changing, permitting people to access content with shorter live stories and videos. Some platforms offer people ways to consume more content in the same amount of time. For example, they can select faster playback speeds on YouTube and certain podcast platforms. Consumers are taking in more information but expect to spend the same amount of time.

Sources: Some of the above content, opinions & survey results are sourced from a EuroMonitor 2020 report into Global consumer trends, but which I believe are still relevant have become even more so during 2021 and beyond. The rest of the content contained are my personal views and comments.

Pride and power in local culture will become more sharply defined and relevant in 2021. It has been particularly a part of Jersey’s identity but will have greater resonance in the UK particularly out of the necessary conditions to further it due to Brexit.

The Proudly Local, Going Global trend captures consumer desire to adopt and appeal to a sense of individuality and growing national identity from local inspiration. There is also a growing expectation for multinationals to respond appropriately and creatively to local culture, social norms and consumer habits.

New brand creation & packaging design for a Jersey-based food importer. Redesigned from the Italian manufacturers to make relevant to the UK market. Designed and created by Joined Up Thinking  © Matthew le Maistre Smith 2020

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To be fair, I’d single Waitrose out as a prime example of this trend which it’s been developing for many years. Essentially, they’ve bucked the trend that most other supermarkets pursued over the past 5-10 years as knee jerk reactions to lowest common denominator competition (and therefore to make everything “own-brand” and cheap as chips). Waitrose whilst addressing that also has developed individual sub-brands that don’t have the ubiquitous and heavy-handed “on-brand” catch-all to design.

An example from my experience is likewise with product development that I’ve been involved with for TESCO whereby the Fox and Ivy label I’ve been working on, has resolutely NOT been TESCO branded for this very reason. See more here: Fox & Ivy Packaging design

Essentially this theme captures global consumer desire to adopt and appeal to a sense of individuality and growing national identity from local inspiration.

There is also a growing expectation of multinationals to respond appropriately and creatively to local culture, social norms and consumer habits.

Niche brands start their global route to success by accentuating their local credentials, keeping this at the forefront of consumers’ minds.  At the same time, multinationals are becoming more sophisticated in shaping their products to local tastes and preferences without losing their core brand identity.  Tuning into the Proudly Local, Going Global trend is a compelling business strategy to win and retain consumer loyalty.

Sources: Some of the above content, opinions & survey results are sourced from a EuroMonitor 2020 report into Global consumer trends, but which I believe are still relevant have become even more so during 2021 and beyond. The rest of the content contained are my personal views and comments.

This is nothing new but may well accelerate even further in 2021 given the geo-political situation created by both the COVID pandemic as well as increased protectionism on National levels – both from the US, China and inevitably the impact that has had in the UK as well as increasingly in Europe (although they’d deny that inevitably).

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A 2019 survey by Wave X Remix Culture found more than half of consumers believed that local brands and products were more authentic than content and products from other countries.

There are deeper ethical value shifts beyond self-expression and consumption driving this desire for localisation. Consumers are prioritising environmental responsibility while helping local businesses thrive and reconnect with communities.

The Proudly Local, Going Global trend is driving the rise of local consumer brands, especially in developing markets, going head to head with multinationals. For niche brands, regional and even global success has followed.

Multinational companies are keen on localising their production or acquiring already established local players. Localisation strategies also help multinationals better adjust to consumer needs that arise due to cultural differences or lower purchasing power. The large and expanding consumer base is one of the key factors driving production localisation in markets, such as India and Nigeria.

Food and beverages are among the leading industries for local production with 85% of production sold within the producer nations on average. This local trend extends to changes happening in manufacturing facilities and processes. Mini factories, which are located much closer to the end consumer, are superseding multinational megafactories. This aligns with environmental priorities and a retreat from globalisation.

By producing locally, companies can reduce delivery times. This aligns with manufacturers in terms of their sustainable credentials and distribution models. Being accessible, local and clean is becoming more important to survival.

Sources: Some of the above content, opinions & survey results are sourced from a EuroMonitor 2020 report into Global consumer trends, but which I believe are still relevant have become even more so during 2021 and beyond. The rest of the content contained are my personal views and comments.