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Insight of the Day: What’s hot and what’s not: Top takeaways from Brandweek 2024

Summary of Findings

  1. Cultural Innovation is Key: Brands are increasingly innovating from cultural phenomena, drawing inspiration from events in sports, fashion, music, and more. By aligning with cultural moments and co-creating with entertainment brands, companies like Bath & Body Works are driving engagement through experiences that combine physical and digital worlds, tapping into consumer fandoms.

  2. Multisensory Experiences: The trend of "single dimension experiences" is fading. Consumers now expect brands to engage multiple senses (sight, sound, smell, taste, and touch) to create richer, more inclusive, and accessible experiences.

  3. Shelf Advocacy: Brands are encouraged to reflect their values on literal and metaphorical "shelves" by spotlighting diversity and inclusivity, such as featuring Black- or LGBTQ+-owned brands. Consumers are also advised to align their purchases with their beliefs, as more shoppers favor brands supporting equality and minority-owned businesses.

  4. Beyond Authenticity: The word "authenticity" is overused and losing credibility. Consumers are seeking brands that "walk the walk" without the need to declare their efforts as "authentic." Meaningful, value-aligned work is expected without relying on the term itself.

  5. Brand Alignment Over Meme Culture: Rather than hopping on meme trends, brands must align with consumers' values and cultural significance to build authentic relationships. Consumers increasingly purchase from brands that share their morals and interests, making genuine engagement critical to brand loyalty.

  6. Psychographics Over Demographics: Traditional demographic segmentation is giving way to psychographic targeting, where brands focus on consumers' behaviors, values, and interests. This shift allows for deeper emotional connections and more personalized marketing.

Key Takeaway

  • Connection and Alignment: Brands need to focus on aligning with cultural moments, values, and consumer behaviors while moving away from superficial trends. Multisensory experiences, psychographic targeting, and "shelf advocacy" will drive meaningful connections with consumers in the future.

Trend

  • Consumer Trend: Increasing expectation for brands to engage multiple senses and align with consumer values beyond demographics.

  • Consumer Sub-Trend: Focus on co-creating experiences that integrate entertainment and cultural moments, fostering deeper connections with consumer fandoms.

Consumer Motivation

  • Motivation: Consumers are motivated by brands that authentically align with their values and provide rich, multisensory, and inclusive experiences.

What is Driving the Trend

  • The rise of AI, entertainment collaborations, and cultural alignment is driving the shift toward more personalized, experiential, and value-driven brand engagement.

Who the Article is Referring To

  • Demographic: Brands and marketing leaders targeting a wide range of consumers, with a focus on younger generations who expect value alignment and personalized experiences.

  • Age: The insights target consumers of all ages, emphasizing the shift toward psychographic over demographic marketing.

Description of Consumers’ Product or Service

  • Product: Brand strategies focused on creating culturally significant, value-driven, and multisensory experiences that resonate with consumers’ values, behaviors, and beliefs.

Conclusions

  • Successful brands are shifting from traditional strategies to more personalized, multisensory, and value-aligned approaches. Innovation should be driven by culture and consumer values, not trends like meme culture or outdated demographic segmentation.

Implications for Brands

  • Brands must focus on creating rich, multisensory experiences and embracing diversity and inclusivity. Moving beyond the term "authenticity" and embracing psychographic targeting will lead to stronger emotional connections with consumers.

Implications for Society

  • The shift toward inclusive, multisensory, and culturally aligned experiences reflects broader societal changes toward diversity and value-driven behaviors. Brands that authentically support these values will gain consumer trust and loyalty.

Implications for Consumers

  • Consumers will benefit from more personalized, immersive experiences that align with their values and beliefs. This allows them to support brands that reflect their morals and interests.

Implications for Future

  • As AI and data-driven insights become more advanced, psychographic targeting and multisensory engagement will become standard, driving even more personalized and value-driven brand strategies.

Consumer Trend

  • Consumer Trend: Shift toward multisensory, inclusive, and culturally aligned brand experiences.

  • Consumer Sub-Trend: Increasing importance of psychographic over demographic segmentation, driving more personalized consumer engagement.

Big Social Trend

  • Big Social Trend: Brands embracing diversity, inclusion, and value alignment as key components of their strategy, moving beyond superficial "authenticity."

Local Trend

  • Local Trend: U.S. consumers increasingly expect brands to reflect their values through product offerings and marketing efforts, particularly with diversity and inclusivity.

Worldwide Social Trend

  • Worldwide Social Trend: Global shift toward value-driven, culturally aligned, and sensory-rich brand experiences, driven by consumer demand for more meaningful engagement.

Name of the Big Trend Implied by the Article

  • Big Trend: "Value-Driven, Multisensory Brand Engagement"

Name of Big Social Trend Implied by the Article

  • Big Social Trend: "Cultural Alignment and Multisensory Inclusion"

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