22 hours ago | By WGSN Insider
Big data meets consumer insights, Experience WGSN.
May 05, 2021
By WGSN Insider
We delve deeper into our Future Consumer 2023 white paper, highlighting the consumer profiles you should keep an eye on. First up are The Predictors, who desire stability, security and can only deal with optimal interference
There is no arguing that the uncertainty (health, work, schooling, ability to access essential items) will have lasting effects into 2023 and beyond and The Predictors will be adopting a recessionary mindset. Even for families and individuals that are financially stable, there will be a ‘proceed with caution’ mentality when it comes to spending. Beyond uncertainty, however, there is another sentiment driving forced savings, similar to what we saw after the 2008 global recession: guilt.
The Predictors simply don’t have the capacity to deal with unexpected changes to routines – also known as prediction errors – such as delayed transport or sold-out supermarket items. More than just an inconvenience, prediction errors can be a significant mental drain for this already-drained cohort. Our brains perceive these disruptions as threats to our daily life, which causes stress and anxiety, and monopolises the brain’s resources.
So how do companies prepare for a cohort that is low on attention, craving certainty, and prioritising financial security?
As refill becomes more mainstream and consumers become more comfortable with it, auto refill will be a win/win for time-poor Predictors. It’s a time-saver, it’s sustainable (connected machines and the internet could eliminate $150bn in waste across major industries, driving a ‘productivity revolution’, according to GE), and it helps bridge the attention divide.
For Predictors, one of the greatest drivers of customer stickiness is stock availability. This cohort dreads the “item currently unavailable” message and is taking to inventory apps such as Zoolert and NowInStock. Pre-orders are a way to eliminate anxiety for The Predictors, and also offer a sustainable alternative to over-production and deadstock.
Exploring customer sentiments, the Future Consumer 2023 white paper sets out four consumer profiles that will shape the world around us and the detailed engagement strategies for each, helping businesses and brands to create opportunities for growth – despite disruption and uncertainty – and align their teams to deliver on that vision.
Stay tuned, as we reveal the other three consumer profiles changing the landscape of the next two years in the coming weeks.
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