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Understanding the Future Consumer: Generational insights to inform future strategies towards 2030
A decade of change has seen the consumer landscape shift from mass market to personalisation and customisation, from a life of bricks-and-mortar shopping to $27.5 billion dollars in online goods spend. Organisations that have thrived in the past decade are those who have understood their consumers and pre-empted the trends. In 2020 we are living in a time of constant change. Technology is developing faster than ever before and is shaping consumption habits in ways previous generations have not experienced. More prevalently, in the current COVID-19 environment, organisations are now adapting to change in mere weeks instead of years. Today's consumers are increasingly prioritising simplicity, personalisation and customisation. The challenge for organisations is to not just communicate their key brand messages well, but to listen to and understand the unique needs of each generation. They then need to respond in a timely manner to set themselves apart from competitors. To set up organisations to thrive in the current market it is more important than ever to gain insight into today’s consumers. What are their defining characteristics? What are their expectations and where will they be in the next decade? This report is for business leaders, future thinkers and communication strategists. It is for those who want to understand the consumer of the future and set their organisation up for success.