THE UNENCUMBERED RECALIBRATION

by Andres F. Siefken and Virginia Morris

LIFE ON AUTOPILOT CEASED AS A RESULT OF THE GLOBAL PANDEMIC

COVID-19 has affected almost every aspect of life, making all of us rethink how we want or should live. We have been forced to take on duties, routines and learn new skills we didn't have to in the past, like homeschooling our kids, cooking, working from home, and learning how to connect virtually, among other things—ultimately changing the way we choose to behave and enjoy life.

This forceful change in perspective has motivated consumers to evaluate the areas of their lives where they perceive a lack of fulfillment or emptiness, opening a window of possibilities of how we envision our future.

As a consequence of this shift to a more self-care-oriented approach, the way brands reach out to consumers will evolve, and for some categories, the change will be dramatic. Brands will have to pay more attention to what consumers desire and aspire to be than merely what they need or want. Basic needs like safety and food are not enough anymore. Consumers will have more power, not just on what they buy but also with whom they associate, especially as the world gets genuinely e-globalized and options grow exponentially. A choice, especially as the economy rebounds, brings them closer to their purpose and aspiration.

Not seeking approval or acceptance from their social circles will be the new norm. The evolved consumer will continue pushing and asking themselves WHY NOT? 

• WHY NOT work from a place I like instead of commuting for long hours?
• WHY NOT enjoy flexible hours instead of spending time at the office until late?
• WHY NOT work for multiple companies instead of just one?
• WHY NOT dress in a more fashion relaxed way moving forward?
• WHY NOT subscribe to what helps me be better than the traditional offerings?
• WHY NOT looking globally through a connected world for alternatives to relieve me from doing what I don't like to do and have a more flexible, if not fluid, and fulfilled life?   

This evolution is happening on every level. What was once a social norm is now a personal option that individuals are choosing whether to pursue. Therefore, what lifestyle choices can you make or incorporate to feed into that self-discovery?

As vaccination continues to increase and restrictions ease up, people will regain the power to travel, to move, and to connect in person, but many new personal insights and learnings are here to stay. Brands have a fantastic opportunity to capture consumers' attention by offering services and products that help them ease their lives, find balance, live better, connect with more meaning. Companies should think about the impact on the world and consumers' mental health. The balance shift to consumers and individual needs and desires continues to accelerate. Companies that understand this will position their businesses to win.

OUR TAKE:

The breaking of social norms changes what is possible for individuals taking the previously socially accepted confines off and allows for the pursuit of unencumbered self-discovery and fulfillment. Instead of looking to the outside for markers of success/acceptance and what is next in life, individuals have more power to chart their course. In other words, the evolution of seeking self-actualization can be measured now by inward vs. outward-facing metrics. "Help me and the planet be and not just look better."

 IMPLICATIONS: Insights to action

There are many implications on how the world and the markets are changing and will continue to evolve in the short and medium term. From the more obvious impact of the evolution of the workspace to lesser implications like creating a nomad culture and the rise of achieving individual potential.

 These changes represent an excellent opportunity for companies to listen and adjust their offerings and communication to connect in a more meaningful way. Companies should:

• Develop solutions that address the upcoming nomad culture and freestyle way of living. While gig economy companies should benefit from this, companies and brands should also find ways to aid in the rediscovery and transformation.
• Think about optimizing their spaces in non-traditional ways, like malls attracting shoppers to work in open spaces, banks subleasing space to Yoga instructors, or stores creating spaces as digital content creation hubs. Rethinking "space" will be a hot topic as companies look at new ways to reduce costs, bring new revenue, traffic, or community connections.
• Collaborate with other companies to facilitate the development of products and services that capture the evolution of functionality for automobiles and other transportation methods as people enjoy a more flexible lifestyle. The development of on-the-go, entertainment, work, and food & beverage products and services have a great opportunity in this space.
• Embrace the de-stigmatization of mental health issues as people seek acceptance to enjoy a better life. Companies can also develop products and services that address balance, rejuvenation, connection, and inner search.
• Understand the "role of food" evolution in our life as people continue to embrace not only free-from and healthy products but also seek more enjoyment as to what they create, consume, and with whom they eat. Companies should pay close attention to the rituals around eating as inspiring keeps you relevant and part of the inner circle.
• Re-evaluate their product mix to redefine the "outdoor" experience. No matter the size of your outdoor space, individuals are dialing up functionality and stepping boldly into the outdoors.

Now that the autopilot is off, how can your company be better prepared to address the consumers' need for more purposely driven spending? 

We can help you think, strategize and bring insights to action to find ways to connect to your consumers and unlock hidden growth potential.

Andres F. Siefken

Growth and Transformation Executive

[email protected] | linkedin.com/in/asiefken

Virginia Morris

Global Consumer Executive

[email protected] | linkedin.com/in/virginiamorris