The trends reshaping British society from The Future Foundation
2012 has been a pivotal year for the UK with the Jubilee, the Olympics, the gradual recovery of our economy, what impact is this having on the national psyche and what effects can we expect over the next 10 years?
The growing interest in buying local and supporting local businesses demonstrates a growing concern in why, where and how we consume. It’s evident across categories but most significantly in food & drink with certain restaurant menus boasting the air miles associated with each of their dishes. On a macro level we are being encouraged to buy British. 2012 celebrations has created a new stock of nostalgia goods which is likely to produce a long-term revival in national pride and local preference, further boosted by the disruptive political & economic climate in Europe. Just look at the rise in popularity of The Royals. How do we advise brands to take advantage of this?
The decade ahead will see the +65s edge towards 20% of the total population and this will be a tribe of relatively prosperous, techno-skilled people, keen to keep living life (& spending) to the full – lucky devils! However few marketing campaigns are currently connecting with this generation, for example car buyers over 65 are 12% of the market BUT willing to spend 25% more on a new car than the national average.
This has been a trend on the back burner since the 90s but with the Government having to cut carbon emissions by 50% into 2020 we can expect increasing pressure to change the way that we live & work. Consumers will want to see brands putting in the effort too and we can expect to see greater emphasis on CSR campaigns and transparent practises. Starting an open dialogue now in comms will pay dividends in the long term
4.The End of Inefficiency
Data, data, data. Already people are starting to embrace services and systems that process choice options on our behalf e.g. suggested playlists, Evian fridge apps that automatically update a delivery when stocks run low, next step a personal program that selects and buys your financial products based on your current lifestyle. As more and more of our consumer choices become automised, brands will need to work harder to ensure they continue to engage their audience and remain relevant. Personalisation will be key.
5.The mullet haircut come back
You heard it here first!