Menu
Menu
Living through the pandemic has brought about changes to the way we interact, shop and live. What are the changes that stay for good and what are the new trends that are emerging? Amongst all, how can brands prepare themselves for 2023 and the years to follow? In this first series, we look at three of the global consumer trends identified by market intelligence agency, Mintel, through a local perspective.
Like the TikTok trend, consumers are now ready for attention and to focus on themselves after two years of deprioritising personal needs for public health. They are open to rediscovering themselves and celebrating their (new) identities, through new experiences and products.
Global insights
What does this mean for brands?
As Me Mentality prevails, make it easy or should we say tempting for consumers to try new things. That doesn’t necessarily mean a new product line. Think about partnership marketing. Partner with brands that offer the same values and/or target the same audience. Encourage consumers to try new things while staying in their comfort zones through trials.
88% of Singapore consumers wanted to be recognised as an individual with unique interests and preferences rather than swept into age-based categories such as “Millennial” or “Gen Z”. Leverage technology to make full use of data collected. Consumers have consented to data collection and now, it’s time for them to get their end of the deal. Think (hyper)personalisation.
Case in point
UOB TMRW app provides a personalised dashboard that highlights customised information based on historical data and provides personalised reminders and rewards.
Moving forward, consumers are buying more than the prestige of a brand. They are subscribing to its attitudes and beliefs. Enabled by technology, consumers are shaping brands and keeping brands on their toes with their wallets and phones.
Global insights
Source: Vogue Business
MAC Cosmetics’ first NFT links with HIV/Aids Awareness
What does this mean for brands?
Case in point
Tapping into social listening, KFC Singapore released the Zhng Burger (a wordplay using one of the local dialects).
Convenience and interactive experiences will continue to grow. However, cost is an issue due to inflation and rising energy prices. In the pursuit of mental wellness, we can expect to see mixed responses towards technology, with some showing preference for digital detox retreats and others turning to wellness apps.
Global insights
What does this mean for brands?
As consumers seek means to counter hyper fatigue, brands can seize this opportunity to establish new or deeper emotional connections. Allow them to identify with your brand and your values. Offer practical solutions that relate to their concerns and challenges. At the same time, make life easier for them. Trends like “Free cancellation”, “YOLO” and more recently, “Buy now, pay later” have a common theme. Decision-making is simplified. Consumers shouldn’t have to undergo additional stress before getting their much-needed respite.
Singapore has long established itself as a foodie destination and in the next 5 to 10 years, wellness will be a key part of Singapore’s tourism offerings. Brands could look into how their products and services can promote well-being, from nutrition to mental health.
Case in point
"This elderly lady was always grumpy and had a bad temper. Her caregivers asked me if I could do something with my perfumes to help her. They shared that she loved baking pandan cakes, drinking kopi-o kosong, and visiting the temple with her late husband to offer incense,” he shares. I put these all together and let her smell it, and what happened afterwards was really priceless.
Her eyes widened, she blurted out her deceased husband’s name and started crying.
It was then that I found my purpose: to heal emotions, to preserve memories, to bring people together.
The importance of mental wellness has clearly emerged from the pandemic, with consumers seeking avenues to be heard and involved. Brands need to ramp up on the “feel good” factor, whether physically or intrinsically.
In the next series, we dive into how consumers’ calls for sustainability and transparency will change the dynamics between brands and consumers in 2023 and beyond.
A hole-in-the-wall branding and marketing solutions agency.
We partner with brands that are raring to go.
A hole-in-the-wall branding and marketing solutions agency. We partner with brands that are raring to go.
We are a creative consulting agency versed in brand positioning, creative execution and go-to-market strategy.
Certified with Enterprise Singapore, ABrandADay teams up with SMEs under the Enterprise Development Grant.
From 1 April 2023, SMEs can receive up to 50% support for EDG.
Engage in Strategic Brand and Marketing Development to fuel growth. Embark on Business Strategy Development to future-proof your business.
We are a creative consulting agency versed in brand positioning, creative execution and go-to-market strategy.
Certified with Enterprise Singapore, ABrandADay teams up with SMEs under the Enterprise Development Grant. Engage in Strategic Brand and Marketing Development to fuel growth. Embark on Business Strategy Development to future-proof your business.
Copyright©2023 ABrandADay
Copyright © 2021 ABrandADay
Terms & Conditions | Privacy Policy