Tracking consumer motivation, the importance of validating your strategy and the evolution of Holiday celebrations. That and more on today’s episode.
Want to know what’s next? Listen to the show where our experts from around the globe unpack your biggest challenges. This week, WGSN’s President and CEO Carla Buzasi takes us to Los Angeles, London and New York. Hear from the friendly faces of our Mindset, New Business and Interiors teams.
Watch the full episode below or read on for highlights of this episode:
Q: What is the consumer motivation or desire that applies across all industries?
“Homeostasis is one of the most powerful motivators behind what we do. It’s the biological drive to return to equilibrium. This need drives many of our consumption decisions. We buy, eat, watch and wear things that are meant to restore centredness to our lives. We are all seeking to soothe ourselves, whether through fashion, food or culture.”
– Grant Wenzlau, Consultant Director, WGSN Mindset
Q: Why is it important to validate your strategy and why should we be seeking out white space for opportunity?
“Scepticism is rife among cohorts such as Gen Z, so validate the way in which you carry out business by understanding your consumer and then how it aligns with your strategy. It’s also essential to ensure your organisation is moving towards that white space opportunity.”
– Ashley Blakeley, Business Development Manager, WGSN
Q: Why are the Holidays such top search terms on WGSN Interiors and how do we see Holiday celebrations evolving in the future?
“While the Holidays we celebrate vary by culture, Holidays themselves are a global unifier. Everybody celebrates something and the traditions surrounding them, both familial and ritualistic, are passed from generation to generation.
“Moving forward, Holidays will hold increased importance as consumers embrace the ability to travel and gather again. Past the beginning of a return to normalcy, Holidays will evolve to reflect shifting priorities such as sustainability, as we see innovations in categories like wrapping paper come to the fore.”
– Cassandra Gagnon, Analyst, WGSN Interiors