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19 April 2021
Consumer values shift for a post-pandemic world
Environmental & social issuesYouth lifestyles & attitudes
More than 70% of 18–34-year-olds said they are now trying new things and interacting with the world in different ways, compared to 54% of 45+ year-olds, according to a new global study.
Why it matters
According to The Value Shift Report, from strategic brand consultancy Hall & Partners, young people will define our values for decades to come.
Environmental concerns: Protecting the environment and working together towards a more sustainable future was a top priority and was ranked as the number one value (69%).
Living for the now: More younger consumers value ‘now moments’ rather than planning ahead in what is viewed as an unpredictable future. Half are more focused on the simple pleasures in life and see excess as unnecessary overindulgence.
Authentic activism: All generations expect companies to be consistent about the issues they campaign for and will hold them to account if they fail. And brands that campaign on an issue that really matters and create a difference in the world will be rewarded with loyalty.
Safety first: There will be more cautious living and attention given to reducing risk in daily life. Brands will need to satisfy a changed desire within consumers for removing risk and feeling protected.
“The future is being shaped before our eyes, sparked not just by a global COVID-19 health crisis, but by political dislocation, economic and environmental disruption and urgent demands for greater justice and equality” – Vanella Jackson, Global CEO of Hall & Partners.