Apr 17, 2020 | By Carla Buzasi
Jan 24, 2020
By Carla Buzasi
As we enter a new decade, we find ourselves in a world that is unpredictable and changing daily. Uncertainty and worry over the climate, civil society and the economic outlook dominate the macroeconomic landscape. By 2022, anticipating, reacting and adapting to these overarching concerns will be business-critical, facilitating a deeper understanding of how consumer desires and spending power will evolve.
Before you can understand what to do, however, you need to understand what’s driving this change.
First is the fear factor. Increasingly global, triggered by violence, corruption, and economic and climate uncertainty, this will affect all age groups and all demographics. So what does this mean for your business? With rates of depression and anxiety said to be at crisis levels, mindsets are shifting to prioritise physical and emotional safety. As we start to embrace fear, emerging strategies towards fear-factor engagement will uptick. Stress-free shopping environments, for example, will remain a consumer priority.
The second driver we have identified at WGSN, we’ve dubbed ‘mass to micro’. This signifies the greater importance in society that micro communities will assume in coming years. As a consequence, people will build deeper ties with their neighbours and environment, and marginalised voices will gain space. With consumer loyalty increasingly driven by shared values, demand for impact-investing is growing. Brands should offer platforms to enable new makers to tell their own stories.
The third, which will be of little surprise to anyone with a conscience, is ‘climate urgency’. Climate adaptability is no longer a strategy; it’s a critical consideration for long-term growth.
And finally ‘balancing age’. It’s time to reframe ageing and associate it with a contribution to society and joy. Brands, services and marketers will be called to redress their perceptions of ageing, shifting the dialogue from ageism to ableism.
If you haven’t visited Tel Aviv yet, make 2020 the year you do so. My favourite destination for a city break, it combines amazing food with an arty, cool crowd, and a beautiful beachfront location. Stay at The Jaffa for high-end interiors and a gorgeous pool.
Apparently this luxe night cream from Irene Forte works in harmony with your body’s natural circadian rhythm. I have no idea what that means but I’m slightly obsessed with its texture and fully obsessed with the scent.
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