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Equinox Emerging Trends Report - Mar 2013

Equinox Emerging Trends Report - Mar 2013

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Published by Brands Vietnam
Equinox Emerging Trends Report
Equinox Emerging Trends Report

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Categories:Types, Research
Published by: Brands Vietnam on Mar 25, 2013
Copyright:Attribution Non-commercial

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11/04/2013

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1
 
ZENITHOPTIMEDIA’S
COMPILATIONOF EMERGINGTOP TEN TRENDS
 
ENGAGINGTHE “ALWAYS ON”CONSUMER
2013
 
3
FORCES SHAPINGEMERGING TOPTEN TRENDS
How do the identied trends relate to the political, socio-economic and technological developments which impactconsumers’lives? The PEST (Politics, Economy, Social andTechnology) analysis shows what inuences consumers’adoption o trends, helping us better understand theevolution o these trends and shows how we might bestuse this knowledge to engage with consumers. We haveidentied three major global developments and theirimpacts on consumers and businesses:
1. REMAPPINGTHE GLOBAL ECONOMY
BOOSTING CONSUMERCONFIDENCE
Global economic power is shiting. Once-powerul economicsuperpowers are plagued with economic stagnation, withunemployment numbers at an all time high. Most Europeancountries are implementing austerity drives, orcing consumersto rethink their spending, even on basic necessities like ood,housing and healthcare. The USA is no better, with the debtceiling crisis continuing to cast a gloom.However, the continued growth o the BRIC economies (Brazil,Russia, India and China) carries a glimmer o hope. According tothe World Bank, China has now become a middle-income country,based on per capita income. Increased discretionary income ingrowing economies means we can expect aspirational trading up,an appetite or global brands and or world experiences that are nowwithin grasp or these consumers. Global brands need to understandhow remapping the world economy aects demand or both theirproduct categories and brands, to give them an idea o how to bestproject their brand identities and communicate brand relevance indiverse economic landscapes.Consumer condence is a great way to shed light onto consumerdemand, since consumers who are condent o their position inlie are more likely to spend.
GLOBAL CONSUMERCONFIDENCE SURVEY
58 Countries - 3 Month Trend 
A
t this time o year, we’re bombarded with annualtrend reports by leading media companies,consulting rms and advertising and digitalagencies alike. While such reports are valuablein identiying trends in specic areas (like consumer,marketing, digital and social media), a big picture view isnecessary. ZenithOptimedia’s Compilation o EmergingTop 10 Trends Report, Engaging the “Always On”Consumer,sums up the crucial trends or marketing communicationsor the upcoming year. What are the driving orces behindthe trends that will shape 2013? How are these trendsrelated to one another? How do these trends impact how weengage with consumers and what do they mean or brandcommunications in 2013 and beyond?
COMPILING THETOP TEN TRENDS
OUR METHODOLOGY
 
How do we engage our customers moving orward? The Top10 Trends have been sourced rom leading trend companies,according to a rigorous methodology:1. Recurring themes and trends sourced and distilled romleading reports2. Investigation into how technological developments, socio-cultural changes and economic developments providecontext or understanding the implications o these trends onbusinesses and consumers3. Trends grouped and macro trends distinguished rom microtrends4. Where needed, trends have been redened and re-named toreally capture their meaningWe have sourced our Top Ten Trends rom the ollowing:
GlobalAverage92India 119Indonesia 119Philippines118United Arab Emirates114Saudi Arabia 113 Thailand112Brazil 110China 106Malaysia 105Switzerland104Egypt103Norway102Canada 99Australia 98ingapore98Peru97NewZealand95Chile94Austria 93Denmark92Pakistan 91Colombia 91UnitedStates90 Turkey 90HongKong89Belgium88Vietnam87Russia 87Sweden 87Germany86srael 84Mexico 84Netherlands83Venezuela 82South Arica 78United Kingdom77Estonia 75Finalnd 75Argentina75Latvia 73Lithuania 72Czech Republic 70 Taiwan 70oland69Ukraine69reland 67Bulgaria 64**Slovakia 62**France61Romania 60Japan 59Spain 48taly46Greece46Portugal41Croatia41SouthKorea 40ungary37+ or -changeromQ22012101& higherMoreOptimism100& lowerMorePessimism
ASIAPACIFICEUROPEMIDDLEEAST/AFRICALATINAMERICANORTHAMERICA
Source: Nielsen Global Survey o Consumer Confdence and SpendingIntentions, Q3 2013Survey is based on respondents with Internet access. Index levelsabove and below 100 indiacate degrees o optimism/pessimism.** Bulgaria and Slovakia are new markets in Q3 2012
2
 
45
ZENITHOPTIMEDIA’SCOMPILATION OFEMERGING TOP TEN TRENDS
Based on recurring trends identied rom reports sourced rom a range o leading media companies, consulting rms, advertising and digitalagencies, our compilation o the Top Ten Trends lists the most relevant or ones or engaging with consumers in 2013:Facing tough times, consumers in the least condent economieswill still spend, but their purchases will be careully considered. To maintain their quality o lie, less condent consumers will bechasing great deals on high perorming products. Condentconsumers, especially those rom growing economies, aremore willing to spend. Hungry to move up the social ladder,they welcome aspirational brands that both act as a badge o success and empower sel-expression. As consumer cultures ingrowing economies evolve, there is a hunger or brand stories,as consumers are working out how associating with globalbrands aects both their personal and social lie. For globalbrands, this means they need to maintain consistent brand valueswhile building emotional connections with these consumers,with appropriate value exchange that is in line with marketsophistication and economic climate.
2. THE CONNECTED WORLD
ACCESSING CONTENTREGARDLESS OF TIME,PLACE OR DEVICE
In a review o the recent 2013 CES (Consumer Electronic Show), theannual event or diehard tech ans, Advertising Age commentedthat, based on the products shown, the event should be renamedthe “Connected Everything Show”. A huge proportion o newgadgets at CES, including ultra high denition TVs, washingmachines and assorted robots, were connected to smartphoneand tablet apps or display, control, and sharing and manipulationpurposes. Web-enabled screens dominate our present day lives,which will only become more apparent as ownership o smartphones and tablets reaches critical mass. By 2013, Gartner predictsthat mobile phones will overtake PCs as the most common Webaccess device worldwide and that, by 2015, over 80 percent o thehandsets sold in mature markets will be smartphones. This trend isglobal. For instance, mobile is ast becoming the PC o Arica. For therst time, Nigerians accessing the Internet via mobile surpassed thenumber o desktop users. To match consumers’“always on”liestyle, marketers need totransorm their mobile engagement strategies. Today’s societyexpects us to make the most o lie by cramming experiences inevery moment, which is what drives consumers’strong desire live ina connected world. Brands need to consider how consumers’use o various gadgets ullls their need or instant gratication.Smartphone-use is much more utilitarian than use o tablets ortelevisions. Multi-tasking across dierent screens and stayingconnected on social media platorms at all times is prevalenttoday. For example, 51% o those who post on social media whilewatching TV aim to connect with others watching TV.As consumers no longer have a linear and static approach tomedia consumption, brands building engagement eco-systemswill need to take into consideration the types and depth o content, publication requency and location-based content thatbest matches dierent gadgets. Brands looking to be a naturalpart o consumers’“always on”liestyles will need to be preparedto respond to their customers 24/7/365 and keep them engagedby creating meaningul and resh content.
3. BIG DATA
IT’S TIME TO GET PERSONAL
 
 The booming role o big data in reshaping consumers’relationships with brands is glaringly apparent in most trendreports. The explosion o consumer-generated data in myriadmobile and social media orms can be used to improve brandrelationships, as the data oers a deeper understanding o consumers’lives. As the basis o personalized and helpulsuggestions, such data can have signicant impact on customersatisaction and loyalty. Interpreted in the right contextand perspectives, data lets brands build a predictive modelto improve their ROI, thanks to behavioural targeting andpersonalised customer needs. This, in turn, improves conversionwhile optimising production and distribution eciency. Asmarketers embrace live marketing, sensitivity when managingconsumer interaction needs to stay on top o our minds. Ater all,there is a ne line between being helpul and being a cause orcomplaint or invasions o privacy or security breaches. Big datais not just something brands should take advantage o: it is alsoan opportunity or brands to work out how to use the data togenuinely help meet consumers’needs.Consumers leave ootprints everywhere on the Internet, andbrands are ollowing their movements closely. While manyconsumers have been sharing their inormation withoutrealising it, this situation may be changing. According toNielsenWire.com, 77% o smartphone users express concernover personal data collection, with 55% wary o sharinginormation about their location via smartphone apps.However, while consumers are newly aware o data creepinginto their lives, they are also open to getting something outo it. They continue to seek security, control, convenienceand enjoyment in their lives, and judge brands’data basedendeavours on how well these needs are ulilled. Accordingto Iconoculture, consumers will unconsciously evaluate theirbrand relationships through a give-and-take lens. By ocusingon delivering relevant, contextually appropriate experiencesthat address consumer needs, brands can make data work orthem, taking their consumer relationships to the next level.Socio-economic and technological developments show that today’sconsumers’value both accumulating knowledge and instantaneousexperiences, which ull their need to be condent and in control.Even though consumers’lives are changing ast, harvesting big datacan help us anticipate their behaviour and what this would meanor products and brands. Instead o depending on historical data toprovide us with insights to help generate demand and consumerengagements, live data will help us stay ahead o our consumers. Itis time we ully embrace live planning to drive the business orward.
 
EVERYWHERECOMMERCE
1
Shop Anything, Anywhere, Anytime
 
GLOBALSHOPPING
2
Brands Becoming Global Citizens
CURATEDSELF
3
Presentation of Self Online
VISUAL INFO-GRATIFICATION
 
4
Discovery Through Engaging Images
5
FRIEND SOURCINGRECOMMENDATIONS
6
In Friends We Trust
CHANNELKNITTING
7
Offering IntegratedExperience Across Devices
REMOTECONCIERGE
8
SOCIALCARE
9
Customers TurnTo Social MediaFor Customer Service
 
PLAYVANTAGE
10
Experience Everyday LifeThrough A Playful Lensi ii
VIDEOSHARING
Storytelling on YouTubeand Beyond 
 
elfOnli
 
eShop AnytA Personal AssistantFor Mobile Devices
 
For M
 
oiLife
 
aensIn Friends We Trust

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