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Jen Gaeto is the executive creative & strategy director for the U.S. at Equator and provides insight on when the time is right in order to capitalize on fast-changing consumer demands, increasing global competition and diminishing awareness of heritage brands among younger consumers.
If there has been one certainty of the last couple of years, it’s that of uncertainty. Terms like “remote working” are commonplace, guest bedrooms have been turned into home offices and e-commerce has become the norm. The impact has been felt socially, economically and commercially and consumer behavior is changed.
A white paper by trend forecasting experts WGSN, called Future Consumer 2024 has identified the main consumer ‘sentiments’ and distilled them into the key consumer profiles set to prevail by 2024. Here we translate the main findings and pose reflections for brands keen to remain relevant in rapidly changing times.
“Declining” is not a word you want to see when it comes to brand performance. It usually prompts two courses of action: save or scrap. For those that were previously strong but have failed to adapt to consumers’ changing priorities, there is a strong argument for the former.
