BBDO/Proximity Canada's forecasters have peered into the crystal ball and predict a heightened desire for affordable self-improvement that will impact brands and the products they buy. After a year of feeling somewhat powerless, Canadians are desperate to enhance their personal situation and will look for ways to be smarter, make money with the things they have, buy better quality products and build their digital brand.
According to Lynn Fletcher, Chief Strategy Officer, BBDO/Proximity Canada, "We've seen a lot of evidence over the past few years that consumers were feeling enlightened, empowered and energized to make change for the better." She says that Boomers (aged 45-65) joined Millennials (aged 18-29) in demanding that corporations act with a higher purpose and make a difference for the better of the planet. That was until the economy collapsed and there was an immediate transition into survival mode. "Even with recent announcements that the recession is over, we are now a little weary, a little less gregarious and a little more sober and reflective and this is evident in our findings," adds Fletcher.
BBDO/Proximity Canada forecasts the following Top 10 Trends for 2010:
1. Smart is Cool: From managing money to the explosion of brain-challenging online games, being smart is cool. The number one most admired trait by high school seniors, is not popularity, attractiveness or being a jock, but intelligence.
2. Frugalista Power: Comparison shopping and hunting for deals have become new sports. It's a real source of pride and it's cool to be cheap. It's now possible to be fashionable and frugal.
3. Less is More: Consumers will seek out products with longevity. The recession highlighted the old-fashioned truism that money needs to be respected.
4. IMBY (In My Backyard): There will be a movement toward local products. Some of this comes from the newfound awareness of the carbon cost of imports, some from a desire to keep jobs local and a general mistrust of the global economy. Look to the increased popularity of farmer's markets and staycations.
5. Consumerpreneurs: Consumers no longer just consume, but actually participate in the economy by making money from what they currently possess or create. The economic downturn encouraged people to find innovative ways to make money from what they already have - from renting their downtown parking space, to selling power generated on their solar panels back to the grid.
6. The New Eco-no-me: Many people say that the environment is important to them, but the recession has highlighted the fact that when it comes to action, suddenly the green that matters most is the green in the wallet: Me first, others second. Now consumers are looking for products with immediate personal benefit that just happen to do good.
7. My Digital Brand: The digital revolution has spawned a new bragging right - digital fame. Personal videos, pictures, gaming scores, opinions and outbursts are all for the world to see and status goes to those most viewed, followed or talked about.
8. Hyper On: Despite the fact that many people yearn for a slower and simpler pace, things are moving faster than ever with no signs of slowing down. A near-instant answer is expected. Products are hitting the market that feed off this need including desktop monitors with a second screen for instant messaging and laptops with 24-hour battery power.
9. A Pro-Am World: People are monitoring their purchases and choosing quality over quantity, which has in turn led to a growth in professional-grade products. Consumers with a do-it-yourself spirit have access to the goods that take matters into their own hands, such as professional-grade power tools, home laser removal kits that have replaced expensive spa treatments and online brokerage sites that offer enhanced tools.
10. Word of Mouse: During these economic times, more and more consumers are spending time researching a purchase or seeking an opinion before parting with their cash. Positions in companies that would have been unheard of a few years ago, such as Chief Blogger or Director of Digital Care are now the norm.
Source - via MarketWire
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