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10 Consumer Trends For 2017
With digital adoption rising across the country, awareness among consumers is also on the rise. After the Maggi ban in 2015, consumers are now more cautious about the food they eat and the products they use — looking for more natural and healthy options. Market research firm Kantar IMRB’s consumer predictions for 2017 highlights the need for marketers to reinvent their strategies to reach out to new-age consumers
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A growing sense of pride in the country’s heritage; a rise in rural entrepreneurship; and an upsurge in healthier eating options are some of the trends Kantar IMRB noticed in its latest Consumer Predictions 2017 report. Here are some trends that brands should keep in mind for their 2017 strategies.
The Indian pride: The report highlights a rise in pride and confidence in one’s heritage. Consumers’ preferences are now increasingly driven by patriotic and cultural inferences. This means, an international brand name will not be necessarily alluring. Brands can expect consumers to desire to be taken close to roots either sensorially or symbolically.
Go natural: Consumers are no longer driven by big brand names in food and personal care products as there’s growing suspicion about the big businesses. They are scared of the chemicals and are instead demanding ‘natural and safe’ products. They are even willing to accept a shorter shelf life as long as health is not compromised.
Authenticity is key: Consumers today seek trust and commitment from brands as it is no longer enough for products to claim to be free from harmful ingredients. They look for authentic narratives behind the development of a product; how it was grown, sourced, processed, produced and distributed.
Choosing the right celebrity: Flawlessness is out; imperfections are welcomed and role models are no longer remote. Consumers today look for their own reflection in celebrities.
More visuals: With the increasing influx of content, our brain’s sorting and grasping mechanism has rewired. Marketers will need to get to the point quicker than ever when they communicate, and emphasise more on visual expressions.
Brand activism: The report outlines that advertising will become a powerful tool not just for commercial purposes but also to bring about behavioural change by challenging the status- quo of the society.
Service-led digital: The extent to which digital media will influence a consumer’s daily life and consumption decisions will be noticed as consumers migrate from basic chat-based services to sophisticated offerings like entertainment and online commerce.
Age is just a number: Today’s generation is no longer defined by age as ‘early adulting’ & ‘postponed old age’ has led to a crossover of interests, behaviour and lifestyle. Marketers will be challenged to create products and communications that are age agonistic, yet which can be targeted.
No rat race: The youth is in the process of overhauling the tried and tested success route of ‘engineering+MBA’ and is looking at unique career options. This will have implications on employers and brands. The new badge value will be meaningful and purpose driven, the report highlights.
Rural entrepreneurship: With rural entrepreneurs on the rise, MNCs should partner with them and leverage their skills to promote their brands and enhance distribution of their brand in rural India.