Tag Archives: consumer trends

Thrive in the Expectation Economy: The Most Exciting and Urgent Trends of 2016 and Beyond

TMRE Keynote Presentation
Thrive in the
Expectation Economy: The Most Exciting and Urgent Trends of 2016 and Beyond
 Maxwell Luthy, Director of Trends and Insight, TRENDWATCHING

Why track consumer
trends?
To have a future vision and create products or services two
to five years from now.
The first component of every trend is change: social change,
technological change, environmental change, and economic change.  Yet, basic human needs do not change,
including relationships, community, and survival.
The second component of every trends is innovation. The
first example was Uber’and how quickly consumers change their habits to adapt
to the app and service.
The third component is emerging expectations. Expectations
transfer. One-touch service for amazon, created one touch for Uber, and even go
to tender. This is an economy of expectations. It impacts all of your
customers.
The good news is tracking Trends helps you surpass the
Expectation Economy.
1st key
thought:
See technology through a lens of basic human needs and wants, not
from the tech buzz.
2nd key
thought
: Explore the sharing economy. Cars. Umbrella.
3rd key thought:
Who do people feel where they are? People are impatient. What are all the
consumer touch points? You can study the Domino’s Everywhere campaign. So, how
do you get to contextual omnichannel?
Consider the use of emoji to understand customer behavior. Think of new
channels’for example, Spotify’s partnership with Uber. Challenge yourself to
think about new context and channels.
4th key
thought
: A compelling brand is still about feelings. Have you explored
two-way transparency between brands and people? Uber rates passengers. In 2016
expect to see more brands rating customers.
Can you use two-way rating and transparency for all
involved. Brand transparency is more important than ever. You must prove you
have a healthy corporate culture’and show the world an inside out view of your
company. People want to like companies and how they treat their employees.
Ask yourself which aspect of you company culture would you
put up on a billboard?
5th key
thought
: Consumers aren’t behaving as they should. Roles are reversed. More
women over 18 are gamers compared to boys. People break all the demographic
behavioral patterns we used to hold as sacred. Why? We have the global brain.
We’ve been urbanized. Lastly, we have cheap digital experimentation. These three
forces shatter all of our expectations of how people should behave according to
gender, age, and class roles.
We are seeing heritage heresy: Playboy is excluding nude
photos. Harley Davidson is planning 35,000 trees. As cultures shift, brands
must adapt their ethos.
The outcome: treat different people differently. Use
taste-led targeting, like Spotify. Fine tune to individual preference.

Michael Graber is the
managing partner of the Southern Growth Studio, an innovation and strategic
growth firm based in Memphis, TN. Visit
www.southerngrowthstudio.com to learn more.

This Week In Market Research: 11/16/15 – 11/20/15

The terrorist attacks in Paris seen late last week have shocked the world and completely rocked the situation in Paris. The fear of terrorism has never been higher and analysts are now saying that this environment of fear could have a high impact not only on policy, but also on the global economy. According to an article put out by Fox Business this week, the biggest economic impact from these devastating attacks will be on how much people spend on travel and tourism. ‘France’s tourism industry is likely to take the biggest immediate punch from Friday’s gruesome events. According to 2014 data from the International Monetary Fund, France is the world’s sixth-largest economy ‘ the second-biggest in the eurozone, and figures from the Paris Convention and Visitors Bureau show the tourism industry makes up nearly 7.4% of the country’s gross domestic product.’ The article also argues that the Paris tourism industry will not be the only area economically affected. Analysts say that given data of past attacks and consumer behavior in the aftermath, people will be less likely to spend money on going to restaurants, cafes, and or concerts (all three of which were targets during the November 13th attacks.) ‘Recent data show overall consumer confidence in the nation fell from an eight-year high in October as consumers were less sure of their ability to add to their savings or make large purchases. In the wake of such abhorrent attacks, it is clear that on top of the emotional stress and trauma France will face, economic stress will also follow. 





In an extremely compelling article on Harvard Business Review this week, the idea of combining thick data with big data is discussed. Now many people may wonder, ‘What is think data’? According to the article, thick data is the data that is generated by anthropologists and individuals trained in observing human behavior and what motivated people. Recently the large majority of businesses either specialize in one or the other. ‘To date, thick data and big data have been promoted and employed by very different people. Thick data has been handled by companies grounded in the social sciences. Big data has been promoted by people with analytics degrees, often sitting in corporate IT functions.’ As the article depicts, little dialogue has gone on between the two. The argument being made is that combining these two approaches can complete a full picture and real solution for some of the strategic problems that CMO’s face. ‘Thick data’s strength comes from its ability to establish hypotheses about why people behave as they do’Big Data has the advantage of being largely unassailable because it is generated by the entire customer population rather than a smaller sample size.’ The article discusses a case study of a European supermarket chain and the tactics their CMO used. The conclusion of the study is that more CMO’s need to ‘familiarize themselves with the strengths and weaknesses of the two data types. I highly recommend this article to anyone in the field of market research, as it illustrates the importance of both types of data. 





An article on Fast Company this week discusses the development and design of Samsung’s Gear VR as it was largely spurred on by consumer insights. According to the VP of Immersive Products and Virtual Reality, Nick DiCarlo, ”Consumer and developer feedback is critical and all of the tweaks we’ve made to the device have been as a result of what we hear from the community. We are committed to continuously improving and bringing this amazing new technology to millions, and that takes a careful ear to listen and learn from the passionate VR community and developers we work with every day.” Many consumers had comments from the previous version that centered around the touchpad which is located on the right side of the headset. In its newest version, Samsung changed the touchpad from being flat and squarish, to a cross-shaped groove that is more conducive to swiping up and down. This article is great example of how consumer insights and market research can impact the design of a product and its evolution thereafter. 


Nichole Dicharry, is a Digital Marketing Assistant at IIR USA, Marketing and Finance Divisions, who works on various aspects of the industry including social media, marketing analysis and media. She can be reached at Ndicharry@iirusa.com

This Week In Market Research: 10/19/15 – 10/23/15

This week I came across a very interesting article on Buzzfeed that discussed the gender gap in people who own and or buy drones. The article discusses the issue from a marketing standpoint on how the drone market, which is generating more than $5 billion in revenue, can reach the female audience. The author explains how, upon doing research on women and girls with drones, ”only 3 included images of women and girls engaging with drones, compared to 18 for men and boys. On Shutterstock, I found 4 girls, 28 boys, 12 women, and over 100 men. (The search terms I used were ‘drone,’ ‘drone man,’ ‘drone woman,’ ‘drone girl,’ and ‘drone boy.’ The numbers are taken from looking through the images ‘ discounting unrelated pictures and aerial shots.)’ The article also points out that some attempts have been made to appeal to the female market, although they can be seen as a step in the wrong direction. Some drone booths, in their attempt to reach women, have women dress in revealing clothing to hand out T-shirts that say ‘Chicks dig drone pilots.’ However there are the few marketers that feature, in my opinion, more appropriate tactics such as strong women doing what they love and being featured on drone technology. Upon reading the article, however, I’m still not convinced that the majority of these tactics are moving the female image in the right direction. What do you think?
It’s that time of year again, folks! The infamous Black Friday is approaching us and everyone is stampeding toward’their phones? That’s right. In an article posted on Adage this week, Google is claiming that more consumers are actually using their smartphones to complete Black Friday purchases. ‘More consumers are shelving the traditional, daylong Black Friday shopping experience for short, burst-like purchases made with their smartphones that are spread out over a period of time, or what Google is calling ‘micro-moments.” According to Google’s blog, ‘shopping moments’ will replace the idea of a ‘shopping marathon’ where people spend the night outside of a Best Buy just to cram into the store and buy the latest gadgets for half price. The article presents compelling evidence and numerous studies that show consumers, more and more, are purchasing holiday items from their mobile devices. This comes as great news to someone like myself, who can’t stand waiting in lines and being in a crowded department store. It will be interesting to see the numbers from this upcoming Black Friday as compared to last year to really see the decline as well.
Last week many Advertisers and Marketers ascended upon the Orlando World Center Marriott to attend the Association of national Advertisers’ Masters of Marketing Conference. However, in an Adage article posted this week, many attendees did not find answers to some of their major questions. Questions such as, ‘how does our company get around ad blockers’? received very few, if any, remarks. ‘In Orlando, Mr. Liodice (The group’s CEO) moved quickly off ad blocking, as well as brief mentions of ad fraud, ad viewability problems and a “degenerative and destructive” proposal in Congress to reduce the tax deduction for ad spending. ‘With as many challenges as our industry has,’ he said, ‘we have a growing abundance of opportunities.” Answers such as this one were not received well with companies hoping for a strong and absolute response. However, the article also suggests that perhaps the answer to this direct question lies within General Electric CMO Linda Boff’s suggestion that the answer is as ‘simple as creativity.’ ”Ad blocking, viewability, none of it matters without great work.”

Nichole Dicharry, is a Digital Marketing Assistant at IIR USA, Marketing and Finance Divisions, who works on various aspects of the industry including social media, marketing analysis and media. She can be reached at Ndicharry@iirusa.com

Call for Presenters Now Open: The Market Research Event #TMRE15

CALL FOR PRESENTERS: The Market Research Event
Submit your proposal by email to kschram@iirusa.com by Friday January 30, 2015
________________________________________

From: Kelly Schram
Re: The Market Research Event
Date: November 2-4, 2015
Location: Orlando, FL
________________________________________

INDUSTRY ALERT: OFFICIAL CALL FOR PRESENTERS

The Institute for International Research (IIR) is currently seeking presenters for:

November 2-4, 2015 | Orlando, FL

Submissions due by Friday, January 30th. 

NOTE: Presenters are accepted on a rolling basis so early submissions are encouraged.

TMRE is the “World’s Top MR Event” focused on elevating the business impact of insights, designed to empower the researcher to move from insights partner to strategic, consultative leader.

ONLY client-side submissions will be reviewed.  If your company is categorized as a vendor, solutions provider or consultancy, please see below to find out how you can get involved in TMRE. Speakers receive a free pass to attend the event.

We are looking for (in order of priority):

  • Exploration Leaders: Speakers who are willing to literally get “outside the conference walls” and take smaller groups of attendees to local areas to explore/discuss MR/ethnography in action.
  • Interactive Discussions: Excellent facilitators who can give a short presentation and then lead the group in interactive roundtable discussions- with actionable outcomes. 
  • Case Studies: We will only consider NEW case studies that haven’t already been shared at another event or past TMRE event. Suggested topic areas for case studies include:
    • Social Insights: Data Collection, Listening & Analysis
    • Shopper Insights & Analytics
    • Consumer & Market Trends
    • Biometrics & Neuroscience
    • Cross Platform & Digital Insights
    • Marketing & Brand Insights
    • Insight Driven Innovation & Product Development
    • Business to Business Research
    • Data Analytics & Advanced Analytics
    • Innovation in Tools, Techniques & Methodologies
    • Global Insights
    • ROI & Measurement
    • Activating Insights
    • Big Data 
    • Mobile & Technology 
    • Storytelling & Data Visualization
    • What’s Next & The Future 
  • State of the Industry Sessions: Executives who have something new or noteworthy (whitepaper, research report) ready to be released at the time of the event.
  • Debate Sessions: There are always two ways to tackle an insights project. We are looking for two insights executives from the same company- who challenged each other to work differently to find a new solution to a common challenge.

…. AND You Decide: We are VERY happy to consider any type of new format you feel would add value for attendees beyond the traditional case study. So please send us your most exciting ideas, we’d love to hear them!

Submission Guidelines 

Client-side speakers that wish to be considered for the TMRE speaker faculty should send the following information via email to Kelly Schram, Conference Director at kschram@iirusa.com no later than Friday, January 30, 2015. Due to the high volume of responses, only those selected for the program will be notified.

1. Benefit-oriented title of session
2. Summary of session (no more than 100 words)
3. Full contact details for speaker including name, title, company, email, phone and mail
4. Speaker bio

If your submission is selected, portions of your summary will be used to promote your participation in print and online. In an effort to ensure the utmost quality, all final presentations will be subject to review by our content review board prior to the event.


Join The Best In Insights From Around The World: NOVEMBER 2-4, 2015 at Rosen Shingle Creek in Orlando, Florida

   

Special notices to vendors, solutions provider or consultancies:
This call is limited to client-side presenters. If you are a vendor, consultant, solution provider, or technology provider and would like to speak at TMRE, please contact Jon Saxe at jsaxe@iirusa.com or 646-895-7467 or Liz Hinkis at ehinkis@Iirusa.com or 646-616-7627.

Live from #TMRE13 5 Game Changing Trends That Will Drive Growth Today & In the Future

My first session today was about the 5 Game Changing Trends That Will Drive Growth Today & In the Future by Charles Vila from Campbell Soup Company. He highlighted 5 consumer trends that we are already playing out globally and will continue to drive growth far into the future. Here they are:
My ROI
We are living in a fast paced, digital age where consumers are taking charge of their finances, their health, their time, and their happiness. Our return on investment is probably the #1 trend to take advantage of. We are always looking for the “best bang for our buck”. Not necessarily targeting the cheapest product, but for the most value for what we are willing to spend. And the value of service is making a comeback.
iHealth 3.0
People are finally beginning to take control of their health and change their habits. Roughly 50% of Americans are overweight, which is causing rises in insurance premiums and a need for healthier options. The realization now is that it’s much easier to prevent health problems, rather than fix them, but how?
Energy Management
We are constantly on the go – working, exercising, juggling different tasks, taking care of the kids. Everyone is exhausted, nobody gets enough sleep and energy has become the most valued commodity in consumers’ lives. There is more and more need for innovations to speed up processes and save time – to make people’s lives easier.

Desire To Feel Alive
There is a yearning inside all of us to rebound emotionally and physically from pressures and problems in our lives. We all need to find ways to release tension and have some fun during the day. The desire for new experiences, outlets for creativity and spontaneity are an ever-growing need.
Digital is Re-Setting Expectations
Humans naturally want to be part of a community, create deep relationships with people and find ways to express themselves. Enter Social Media – facilitating connections and socialization. MySpace is now a thing of the past, Facebook and Twitter have become the hot spots – what’s next?
There are plenty of opportunities for growth within these 5 categories. The question is, what will we do about it?

Talia Short is Chief Wrangler at April Bell Research Group, a boutique, full-service marketing research firm, committed to delivering fresh insights you can act on! Learn more at aprilbellresearch.com.

Marketing Academia Needs to Change Market Research Teachings

There was an interesting article regarding how marketing academia is needs to change the principles of what is taught. In today’s organizations, more and more, the focus of marketing research is centered on consumers and the idea of customer insight. It’s about finding out what current customers are saying, and finding ways to improve and incorporate these suggestions into final products, rather than surveying a random sampling of a predicted target audience. Based on this articles research, schools that teach marketing need to move away from just teaching ‘classical marketing.’ Instead they need to consult more with companies, and find out the actual marketing practices in place in order to keep up with changing face of market research. As the article states: ‘Commercial market researchers and applied academics share a requirement to make their research accessible, engaging and even actionable. There is little overt acknowledgement of this at present, and until this changes, the current academic cultural norms may erect barriers to our messages getting across.’

Economic Concerns are Changing Spending Habits

With ever-growing prices at the gas pump, consumers are looking to save money in other way besides automobile expenses. One of those ways includes weekly visits to the local grocery store. A study conducted by the National Consumer Agency shows us that Irish consumers are thinking twice before picking up conventional items at supermarkets. Here are some of the findings from the research:

  • 30% of grocery shoppers have changed grocery shopping behaviour since the start of the year
  • 26% spreading their spend over different supermarkets
  • Lidl and Aldi are main beneficiaries of the spend spreading to different stores
  • 32% of groceries bought are the supermarkets’ own brand items
  • 26% buying cheaper versions of products

What does this mean for marketers? Trends in consumer shopping and spending habits are changing, and so we must carefully analyze research to ensure that we are stepping in the right direction to effectively promote products and services.