With only 28 working days left until #2020, we at Fearless decided that it was time to dive into some of the upcoming trends and predictions for the new year. From consumer behaviours to new technologies, brand expectations to new marketing channels, we’ve decided to stare into the crystal ball to see what the roaring 20’s may hold for us…
Time to get Personal
According to Accenture, “91% of consumers are more likely to shop with brands who recognise, remember, and provide relevant offers and recommendations”.
It is no surprise that in a digital world bombarding us with the same generic message hundreds of times a day that consumers are looking for more of a personal touch. All signs are pointing to personalisation in #2020 as an increasing number consumers want to feel more like a client and less like a number. Brands should see this as an opportunity and move their strategies from communication to conversation. That being said, it’s not so much about using predictive tech to figure out exactly what the customer wants but more about tailoring experiences that help them create and curate their own journey with the brand.
Trust and Transparency
Is it really surprising after the 24 months that we’ve had that trust and transparency would be the top of the list for consumers in 2020? Hello, #FacebookGate.
Coming hand-in-hand with personalisation is the ever-increasing need for trust. After all, consumers need to willingly hand over their data to brands to create a truly personalised experience for themselves. While most consumers are willing to do so, according to Accenture’s study, they want brands to be 100 percent honest and transparent about how they use their data. In fact, of the “27 percent of consumers who reported a brand experience that was invasive, almost (64 percent) say it was because the brand had information about (them) that they didn’t share knowingly…” So, for brands who want to avoid “creepy uncle syndrome”, they need to make it clear to their customers when and how they use personal data.
You are What You Buy
According to The Behaviours Agency, consumers will be (and have been) searching for meaning in their buying behaviours. As #wellness continues to trend across social platforms, we will see a fundamental shift in how consumers view success and happiness. Gone are the days of flaunting a never ending feed of material things. As the definition of “wellness” expands beyond the boundaries of physical health, consumers of 2020 will yearn for brand experiences (and purchases) that are more meaningful and mindful.
What this means for brands is that they’re going to have to dig a little deeper if they want customers to stay loyal. The trend of consumers aligning with brands that have a more meaningful purpose will only continue to grow as more and more brands get B-Corp certified. The moral of the story here is that brands just simply need to do better for good. Cheesy CSR stunts just won’t cut it anymore. Consumers want to feel like they’re making a difference by buying from brands that truly are making a difference.
So what does this all mean for #2020. The conclusion we’ve come to here at Fearless is that consumers of this digital age want to go back to being more human. The trends of personalisation, trust, and mindfulness speak for themselves. How brands can use these trends to supercharge their 2020 strategies is just to simply remember to be human; to treat their customers (and their data) the way they want to be treated.