Let’s break this down by looking at the three basic building blocks of consumer behaviour: media consumption, spending behaviour and social responsibility.
The key trend that is repeatedly talked about in media consumption is that broadcast platforms are losing viewers to digital platforms as people spend more and more time with their mobile devices. What’s really interesting here is not that consumers are using a mobile screen to view content but that those consumers are using digital video platforms to inform many purchase decisions. A key challenge for marketers is learning how to supplement marketing campaigns with peripheral, but important, video content in order to secure a sale.
When it comes to consumers and their spending habits, broadly speaking the key trend is a shift towards reduced discretionary spending, mostly due to the impact of uncertainty in the global economy. In such times, advertisers need to work much harder to create appeal/desire and to articulate the value that their product or service will deliver.
Another factor that is having a big influence on consumer behaviour is the rise of conscious consumerism – where consumers are looking to create a positive influence and encourage social responsibility through their purchase decisions. We are predicting that this trend will gain significant momentum over the next few years. For many brands, this is uncharted territory, which will need to be navigated thoughtfully.
WHAT HAVE CLIENTS STARTED ASKING FOR IN THE PAST YEAR?
More and more, we are seeing clients asking for a path to growth. The marketing landscape has become incredibly complex and challenging to navigate. Changes in consumer behaviour and marketing technologies are placing increased demands on the time and resources available to marketing teams. Not only are marketeers required to make more decisions, but the nature of those decisions are now more technical than ever before. Clients, frustrated by this complexity, are turning to us to craft solutions and plans that clarify and simplify what they need to do in order to generate sustainable business growth.
WHICH MARKETS ARE MOST INTERESTING TO YOU, AND WHY?
As clients seek growth, the markets that come into focus are those where opportunity is highest. Saudi Arabia is a focus for most clients, given the economic and cultural transformation taking place there. We are also seeing an increased focus on both North and Sub-Saharan Africa.