TRENDS: HOW TO REIMAGINE GROWTH

Victor Ikawa, Head of Telecom Practice, Kantar Insights & Yasmin Kathoria min Kathoria, Brand Growth Director, Kantar Consulting

“The greatest danger in times of turbulence is not the turbulence itself, but to act with yesterday’s logic.” Peter Drucker

These days the question that we get asked most often is “What trends and disruptions represent threats and opportunities to my business and my sector?”

We face the urgent need to learn to anticipate and plan for an evolving future. Cultivating a futurist mindset is now front and centre to how we do business. We face new risks but also new possibilities. Pre 2020, we had the luxury of thinking about trends as “tomorrow’s problem”. The pace of change today is unprecedented, and our new imperative is to learn how to actively design a future where we see our business and people thriving.

Currently, several dominant macroeconomic factors are influencing global markets. Notably, the trio of high-interest rates, high inflation, and unstable exchange rates are prevalent in numerous countries. In Africa, chronic unemployment has been a persistent challenge. Furthermore, trends like swift urbanization and a preference for compact, efficient living spaces, combined with advancements in technology such as automation, are pointing towards a future where consumers desire more streamlined, intuitive homes and sustainable living environments. This shift isn't exclusive to individual consumers; businesses are also seeking tech-driven solutions to enhance operational efficiency and reduce costs.

Over the past few decades, consumers have been riding a wave of rapid change, heightened connectivity. Modern lifestyles are continuously being moulded by evolving societal values, technological breakthroughs, and an ever-increasing awareness of environmental sustainability. For instance, in France, the phrase "Boulot, Metro, Dodo" captures the essence of the daily grind many face, symbolizing the ongoing tug-of-war between work, commuting, and rest. This hustle has led to a societal reflection on achieving a better work-life balance, with concepts like "tracance" (a fusion of the French words for work and vacation) gaining traction. Alongside this, a heightened consciousness about the environmental footprints of our daily choices drives more sustainable practices, from consumption patterns to housing decisions.

Recent disruptions, like the global pandemic, underline the need for adaptability and resilience. Modern tools, such as DNA testing kits and health-monitoring apps, empower individuals to take charge of their well-being, indicating a broader societal emphasis on holistic wellness.

An intricate tapestry of trends and driving forces is redefining our contemporary lifestyle landscape. Addressing these changes necessitates a comprehensive, multifaceted strategy—one that harnesses technological innovation, celebrates cultural diversity, and champions environmental stewardship. Such an approach aims not just to navigate but to create lives that resonate with our present challenges and aspirations, fostering a deeper sense of purpose and fulfilment.

It’s no wonder business and brand leaders across the world are asking themselves the critical question "What are future trends that I should plan for?”

The alternative is risky. While companies most likely have insights into their own sectors, they may lack a broader perspective that considers trends and developments in other industries. This is a crucial gap, given that consumers are not confined to specific sectors – they engage with multiple industries seamlessly. Consequently, many organizations have a blinkered/narrowed vision, lacking the breadth of insights necessary to adapt and innovate effectively.

A specialist futures thinker can provide a broad holistic view of both internal and external trends, bringing a comprehensive understanding of cross-sectoral insights, anticipates the multifaceted impacts of external factors and turns this into actionable plans for the business.

An important question I once received from a West African client was, "Victor, why is it that even though all companies are aware of evolving trends, only a few actively respond to them?"

The answer is clear…well-executed trend analyses can invigorate an organization, but to act on them we need a new mindset and new skills:

• We need to cultivate an obsession with the world around us (beyond our category, business and borders)
• We must have the ability to pinpoint patterns of change over time and to keep track of early signals of shifts
• We must then have the skill to decipher how these shifts impact people’s behaviours and values
• Finally, we need the ability to connect the dots and translate this into tangible actions for our business

At Kantar our Futures Thinking team provides a wide-angle view of the marketplace, helping you reimagine possibilities and unlock growth. There has never been a better time to shape new visions, strategies, business models, innovation and communication to make the most of the future, today.

Kantar Insights dives deep into trend identification, while Kantar Consulting translates these insights into actionable strategies. We bridge the gap between knowledge and action, ensuring that trends are not just identified but are also integral to business strategy.

The ability to navigate disruption and predict surprises is the defining competitive advantage of our time. Are you asking the right questions about the future?

Reach out to us at Kantar for more information.

?