5 Consumer Trends That Will Shape the Next Decade

We’ve got the low down on the five consumer trends that are expected to define brands in the next ten years.

Me, But Better

People nowadays are craving more control over their lives. Because of this, brands are expected to give opportunities for self-optimization.

Consumers are on a continuous journey of self-improvement, and they expect brands to be partners in that quest. People don’t want products and services alone, they seek deeper brand experiences to help them get to where they want to be.

For example, many brands have included mental health efforts in their campaigns in the past few years. Free virtual yoga classes, meditation videos and low-cost counseling has been offered in an effort to help people ease stress and anxiety. While these were very much appreciated, these offers won’t be enough to keep them engaged.?

Brands are urged to start thinking outside the box. To take a unique and holistic approach to weave wellness with brand experiences. But more importantly, brands should ditch traditional and make every effort more far-reaching.?

According to the experts here are ways certain brands can use this trend to your advantage:

• Beauty brands - Focus on uplifting consumers with integrative health. Make sure that they look and FEEL better about themselves.
• Family-centric brands - Be proactive in supporting children’s mental and social well-being through imagination-stirring and socialized play.
• Dispensary Brands - Strengthen your safe spaces. Consumers should turn to your product, service or content to seek respite from the toxicity of daily life.

Next-Gen Loyalty Dynamics

Loyalty programs need a refresh. To keep customers engaged, brands should reward them for more than just purchases. Customers now expect rewards for everyday habits or advocating for the brand.

Mobile apps offer a prime opportunity to level up rewards with custom achievements and milestones. These are custom mobile app features where customers earn rewards for completing specific actions, like making a certain purchase amount, following a social media page, or leaving a review.

Once a milestone is reached, brands can offer a personalized discount or badge. This approach is effective for driving sales, expanding brand reach, and boosting loyalty and engagement.

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Gaming For All

Gaming is no longer a niche hobby – it's for everyone. Consumer trends show a surge in gamification across industries, including retail and e-commerce.

Expert Advice:

• Incorporate engaging games into retail mobile apps. Motivate customers to achieve goals and make the brand experience fun and entertaining through elements like spin raffles, points systems, and leaderboards. This not only increases engagement but also allows for targeted promotions based on in-app behavior.
• Brands should prepare for the metaverse's future by creating portable digital assets that work across virtual worlds. Even luxury brands can explore tie-ins with gaming experiences.

Ever-Changing Consumer Cohorts

Gone are the days of simply dividing consumers by age. Today's consumer landscape is a patchwork of diverse cohorts, each with unique cultural experiences and buying behaviors. Gen Alpha won't respond to the same marketing tactics as Gen Z, and Millennials entering mid-life have different needs than Gen X.

To truly resonate with modern consumers, brands should consider a more segmented approach. Consumer co-production, where customers are involved in product development and brand growth, fosters a deeper connection and sense of purpose. Additionally, consumers appreciate brands that address social issues and offer support through advertising, service concepts, and buying experiences. This builds brand affinity and loyalty.

Omnichannel Is the Gold Standard

An omnichannel approach, seamlessly integrating online and offline experiences, is no longer optional – it's the key to success in retail, marketing, and beyond. Brands must continue streamlining the journey between virtual and real-life touchpoints. Beyond frictionless interfaces, they should create truly immersive experiences.

Cultivate a Futurist Mindset

To thrive in this competitive landscape, brands need to adopt a forward-thinking approach. Here are five habits to foster a futurist marketing culture:

1. Seek New Perspectives: Be constantly on the lookout for fresh ideas, even if they seem unconventional.
2. Embrace Early Signals: Pay attention to emerging trends, even if they're unconventional or awkward.
3. Challenge Assumptions: Regularly reflect on your own biases and assess if they're still relevant.
4. Identify Gaps: Ask yourself who you're not currently reaching and how you can expand your audience.
5. Embrace Discomfort: Step outside your comfort zone. Challenges and new innovations can lead to unexpected breakthroughs.

We hope this provides valuable insights for your strategic planning, helping your brand thrive in this competitive landscape.

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