Emerging Consumers: Fact or Fiction?
As a futurist spending much of my time assessing emerging developments and their implications across an array of industry sectors, I am frequently asked for a view on ‘consumer trends’. Common questions are ‘what will consumers want in the future?’ ‘Does our product (service) have a place?’ ‘What is driving consumer behaviour?’ ‘How can we get ahead of the changing marketplace?’ and so on. But what if they’re the WRONG questions? For anyone who has seen me facilitate a public session, you’ll know that I play part court jester, part voice of conscience to provoke they way people think. So allow me a little provocation for you:
Consumers are NOT changing. Instead what we are seeing is the removal of the ‘blinkers’ most organisations are wearing that have hidden from view the hundreds or thousands of potential customers within their sights. Whilst methods of information gathering are shifting for consumers, that is just a tool, not a process. The intended outcome is very much the same – find out what I need to know.
Which means that even though technology is acceleraing the speed at which a consumer can gather information, it is Companies that are emerging out of the woodwork. It is as if the smog is clearing and businesses are finally seeing that there is (and in fact has ALWAYS been) a myriad of potential consumer dynamics in the marketplace. The most significant impact of this new awareness on behalf of companies, is the collapse of the validity of A-B-C consumers, of age based demographic targeting.
These approaches still have a role to play but they are not the be all and end all of marketing activity. Instead Companies are becoming increasingly aware that some consumers prefer fast paced snippets, some in depth commentary, and others prefer to go their own way. Some need to be guided, others prompted, some provoked. And this happens across age groups and across geographic locations and across income levels.
So are there Emerging Consumers? – kind of. And for the case of playing the Court Jester role, let me suggest that the emergence is on the part of Organisations who are at last, shaking off their delusion that you can ‘cookie cutter’ their marketing and branding. Sure tastes may change and for now Emerging Consumers are probably Faction than Fact
Sometimes when you look at enough assorted pieces of information a clear pattern emerges. In a previous role I was tasked with looking at the Future of Education, a topic I delved deeply into for almost 3 years. And in 2003 in a piece titled ‘The Future of Commercial Education’ I predicted that by 2015,…
Read More >Tomorrow I’ll be at the State Library of Victoria as part of the #V21 Digital Summit. In my futurist, pragmatist role I’ll be presenting few ideas about why ‘Your Future is NOT an App’, then later in the day facilitating an onstage debate about Disruption’s role in Innovation. And if it is anything to go…
Read More >I’ve been having a think lately about whether the use of Interest Rate movements by the Reserve Bank is actually too clumsy an instrument for effective economic management. The potential weakness has emerged only in recent times as the signs of a world-wide economic melt down have begun to expose one of the limitations of…
Read More >There’s a few problems with the successful leadership lists that bounce their way around the internet. In my opinion they lack context – the reality check that only comes by having a full appreciation of an individual organisation’s particular circumstances. Unfortunately many of these lists of ‘required leadership behaviours’ offer shallow quick fix advice that…
Read More >There’s no doubt that coal has a legitimacy problem with large swathes of the public around the world. Once a darling of energy and still in relative abundant supplies, Coal provides significant levels of energy per gram consumed. Yet the end outcome is now known to be incredibly harmful to localised communities needing to breathe…
Read More >At almost every stage in a shift in the way societies and organisations operate, there comes a period of extreme ‘unsettled-ness’. This period may show itself in the form of the doldrums (where things seem unusually calm but nothing seems to be happening) or in busyness (where there’s lots of activity but nothing seems to…
Read More >Sometimes when we have the chance to say something, we don’t. About two years ago one of my uncles died and I should have spoken at his funeral. This personal post is what I should have said to the public gallery that attended ‘Hi everyone. I’m Marcus and Jim was one of my three uncles.…
Read More >I’ve just posted a quick overview on LinkedIn called The ‘Loud Secret’ – Underestimating your internal skill sets which you can find at the link below The ‘Loud Secret’: Underestimating Your Internal Skill sets. If you have any troubles accessing the story let me know and I’ll see what I can do
Read More >Health Care costs in Australia are rising and are likely to continue doing so as our population both grows and ages. Which means attempts to address this issue are warranted. Equally warranted is an assessment of the impacts for addressing or ignoring the issue. If, as has been mooted, the Australian Government introduces an $8…
Read More >We’ve been getting far more effective at understanding the way our brains work especially as they relate to the idea of ‘mind’. Simply, the idea that we make decisions based on our conscious understanding, appears limited at best and highly flawed at worst. And now, the step towards longevity, perhaps even the fountain of youth,…
Read More >