Study identifies global trends for brands

The fracturing nature of globalisation, the importance of nostagia and Gen Z’s interest in living for today are all identified as areas to watch for brands in Ipsos’s annual survey of 50,000 people across 50 different markets.

Ipsos has revealed the nine global trends it believes are key to understanding where society is at the moment – and where it is heading.

The market research firm’s annual Global Trends study dates back to 2014 with this latest version – titled ‘In Search of a New Consensus’ – marking its 10-year anniversary. Ipsos conducted interviews with more than 50,000 people across 50 markets representing three-quarters of the world’s population and 90% of the world’s GDP.

The nine trends it has identified are influenced by the macroeconomic environment that surround them. In this case, Ipsos has pointed to an unstable geopolitical and demographic backdrop, the increasing concerns around climate change and a rapidly diverse society, and society’s hope and fear for technology.

The first trend identified is the fracturing nature of globalisation. While the data shows the general perception of globalisation has improved in many markets around the world in the past decade (60% agree that globalisation has been good for them personally), there is an increasing trend for nations to be more insular with 63% agreeing they feel proud of their country. Ipsos believes the key takeaway for brands here is the need to “play up their local ties” while also highlighting “the benefits of their scale”.

Ipsos suggests splintered societies is another key trend brands should have their eye on. It points to a discomfort from society around wealth inequality (77% agree having large differences in income is bad for society) – as well as the increasingly fractious nature of public discourse (with 76% agreeing there is a rising conflict between people who hold different sets of values) something that even extends to home life as nearly half (46%) find there are strong differences of opinion in their own family. The study claims there is a key part for brands to play in looking to “reduce the temperature” when it comes to these contested issues.

Virgin Active positions itself against the ‘toxicity of wellness’ with global rebrandBrands may believe they are doing enough to tackle climate issues, but it’s likely the public does not agree. Over three quarters (77%) of those surveyed believe companies do not pay enough attention to the environment, with a further 81% believing business impact on the environment should be subject to government control. And on technology there remains a concern across the world about the impact it has on society. Ipsos stresses that brands need to “build trust” on the benefits of technology, particularly around artificial intelligence.

Many brands try to capitalise on nostalgia to sell products, with Ipsos’s trends analysis showing they may be on to something. What it dubs a “retreat to old systems” has become increasingly commonplace across the world – with more than half of people (56%) agreeing they wished their country was the way it used to be (up from 47% in 2013). But while this may seem like consumers are wishing to go back into the past, Ipsos notes that it’s worth remembering this won’t be the case for every consumer – and for countries like China, Japan and South Korea there is more of an anti-nostalgia sentiment.

Why commission new research when you are already sitting on a treasure trove of insights?Perhaps the most interesting trend relates to Gen Z and what Ipsos has dubbed ‘nouveau nihilism’, essentially a consumer mindset that appeals to living for today as tomorrow is increasingly uncertain. Just one under third (31%) of respondents say they are optimistic about the next 12 months and there has been an increasingly positive response to the questions about living for today as tomorrow will take care of itself, with two-thirds of the 50 markets surveyed indicating they think that way. Despite this trend towards nihilism, however, Ipsos points out that the traditional landmarks that people aspire to – such as home ownership – remain the goal for most, it just seems increasingly hard to achieve.

Its final three trends include a push towards health conscientiousness (including a narrowing gap between the importance of both physical health and mental health), a move towards purchasing from brands that reflect their personal values and which they trust, and, finally, an increasing escape to individualism.

Ipsos claims that future-prepared brands are 33% more likely to show higher profitability than the average and 200% more likely to show higher growth.

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}