Forging connections with consumers in the New Normal: Global insights from The Futures Company
One of the biggest effects of the global economic crisis is that it has fundamentally – and perhaps permanently – changed consumer purchase habits. Brands now live in a New Normal, where shoppers are more cautious about their spending than they were prior to the downturn.
A briefing from The Futures Company in October 2011, aimed to provide guidance for brands on how they can adapt to this New Normal. This guidance was informed by hard data from the agency's ongoing Global MONITOR research project, which incorporates a quantitative survey of 28,000 consumers across 21 nations, and qualitative contributions from other sources including a global network of trendspotters.
The new consumer mindset
Recent events in the global economy have led to a consumer marketplace in which "volatility is very much the new normal," Henry Tucker, Director and Head of FMCG at The Futures Company, told attendees.