Consumers perceive products or services and experiences in a very different way today. What’s more, that perception is changing rapidly. As a result, consumption and priorities have been redefined globally. In this post, we feature 4 key consumer types for the new competitive environment.
The Consumer of the Future 2023 is part of a series of studies focused on business strategy that propose how to anticipate demands. This report explores some key consumer sentiments, such as perception of time or hope. In addition, it defines 4 consumer profiles to keep track of: Anticipators, New Romantics, Nonconformists and Energizers.
Here are some characteristics of each of these 4 key consumer types for the new competitive environment.
Forecasters
Emotional fatigue, economic uncertainty and a distorted notion of time have hit the Foresightful consumers. Their level of caution desires stability and security and they can only deal with optimal interference.
Recommended strategy: Launch innovations in the retail segment. For example, in-store product fulfillment technology; on-demand, pre-sale and subscription retailing; weekly delivery programs; or new discounting and loyalty models.
New Romantics
Increasing workloads and a strong need to reconnect with emotions are the drivers of this consumer group. We can take as a reference the migration from the city to the countryside, the new reality of teleworking or the renewed idea of local community.
Recommended strategy: Create products, services and initiatives that generate stronger emotional ties with the internal and external worlds. Natural and sustainable materials offer sensory moments, encourage the creation of rituals of use and enhance well-being.
Nonconformists
Motivated by the anger of 2020 and the lack of institutional and governmental assistance, they are activists who turn to technology to rebuild a better world.
Recommended strategy: Call for action, continued progress and genuine long-term change. Develop cross-cultural products, incorporate indigenous wisdom, ensure that the supply chain is ethical, transparent and attractive.
Dynamizers
The cognitive flexibility of this group makes them highly resilient. Multidimensional, multifaceted and always involved in different simultaneous tasks, they seek strong emotions. They absorb new stimuli and seek sensory moments, which will give rise to the next wave of mixed professions.
Recommended strategy: Invest in innovative experiences, virtual adventures and mixed worlds. Explore gamified retail, interactive ecommerce, metaverse marketplaces, etc.
Photo credit: CS
