Navigating the Permacrisis: 2023 U.S. Consumer Trends

In 2022, people were recalibrating and fine-tuning their approach to life. However, in 2023, there has been a significant mindset shift and people are actively evolving to the changing circumstances. They're adapting to an environment where the pandemic is over but not really over, recession fears lurk endlessly on the horizon, and record-low unemployment exists side-by-side with a weekly drumbeat of corporate downsizing.??

They're adapting to a new state of permacrisis and there are profound implications of this transformative shift for marketers. By delving deeply into the intricacies of brand relationships, embracing the potential of evolving technology, and reorienting towards core values, marketers can cultivate effective strategies that empower consumers amidst uncertainty.??

Adapting Brand Relationships?

Today, consumers are engaging in a perpetual audit of brands, seeking alignment with their personal values. As new alternatives continually emerge and consumer attention is stretched more than ever, brands confront an escalating challenge: the pressing question of "what have you done for me lately?”?

Marketing and media implications:??

• Marketers need to calculate the risks of both speaking out and keeping silent; remaining true to core brand values should be the north star.?
• Brand loyalty is becoming increasingly driven by rational benefits. Marketers should lean into loss aversion and the rewards and benefits people risk losing if they move away from the brand.?
• Take a holistic approach to creative, planning, and activation, and re-examine how traditional measures of reach and effectiveness may not fully capture the evolving nature of people’s limited attention. ?

?Adapting to Changing Tech?

As technology continues to evolve, it ignites curiosity and introduces fresh obstacles. The rapid resurgence of artificial intelligence is at the forefront of transforming consumer interactions. Simultaneously, the social landscape is undergoing a significant shift and has disrupted the traditional customer journey, and the rise of ad-supported streaming services provides brands with opportunities to strategically engage with leaned-in audiences.??

?Marketing and media implications:??

• A.I. presents tremendous opportunities, but marketers should consider ethical, legal, and moral implications, while ensuring the tools and products add genuine value.??
• Marketers need to reconsider the shifting role that social platforms play in people’s discovery journey and stay agile to continue to meet consumers where and how they are searching for products. ?
• Precision targeting is merging with creative messaging on streaming platforms, allowing marketers to simultaneously enhance human connection and effectively target their desired audiences.?

?Adapting to What Matters?

Consumers are pausing to minimize clutter and maximize positivity toward simpler living. Brands of all kinds are pursuing wellness as a way to connect with people, and consumers are chasing authenticity and value from brands. Nostalgia also holds powerful sway, transcending generational boundaries and captivating even Gen Z as they embrace trends from earlier eras.??

?Marketing and media implications:??

• The focus on health and wellness is expanding to new product categories. Marketers need to audit what wellness means to their audience and how, where, and when they can best engage.??
• In response to the need for authenticity, consumers are embracing the rise of "de-influencers," who seek affordable alternatives in a tightening economy. Marketers can embrace this authentic influencer messaging, allowing for a balanced presentation of product aspects.?
• As the search for nostalgic experiences persists, marketers need to find an authentic intersection between product offerings, consumer needs, and the nostalgic aesthetics that resonate with the target audience for effective and enduring connections.?

?In the face of an ever-shifting landscape, marketers must demonstrate an unwavering commitment to understanding consumer expectations, elevating value propositions, and fostering deep and genuine connections. It is through the embrace of change that marketers can navigate the new state of permacrisis and emerge not only stronger and more resilient but also equipped to surpass the evolving needs of their discerning audience. Through meaningful connections, brands can transcend present challenges and establish a solid foundation for a future where they lead in relevance, trust, and lasting impact.?

This content was brought to you by the Audience & Insights team, which consists of extensively trained research experts armed with advanced tools to provide unparalleled understanding of consumers. Thank you to our contributors: Jon Manka , Director; Alexandra Scebold, MBA, MArch Director; Burke Marksity , Associate Director; and Cameron Epps , Manager.??

For more information, please contact Jackie Mockridge Mattina , EVP, Head of Audience & Insights, denstu Media US; [email protected].??