Men’s lifestyle publication Man of Many has surveyed over 1000 of its readers, inviting them to share their insights on the future of consumer culture, technology and modern life.
Overwhelmingly, the research identified four key trends that are poised to shape the next decade, revealing how marketers can leverage these changes in customer preferences with actionable tips designed to help them foster more meaningful relationships with their consumers.
Your customers are at risk if your values don’t align
The most revealing trend Man of Many identified in its research was a simple one – “Company Values Matter”. As marketers, the challenge has always been getting products in front of the right people, but as the research shows, you are more than your product. Now more than ever, consumers are preferencing brands that embody authentic purpose. Some 91 per cent believe a business’s success should be measured by more than profit and 72 per cent have boycotted a brand for its social stance.
The conscious consumer is a mainstream movement
Sustainability is not just an issue for a green minority, it’s a widespread concern. Man of Many’s readers are taking action to live more sustainably and are willingly reaching deeper into their pockets to do so. Climate change was identified as people’s most urgent and primary concern for society followed by unemployment and economic growth. And consumers are putting their money where their green mouth is with 85 per cent taking action to live a more sustainable lifestyle and 76 per cent willing to pay more for products made by a brand that practices sustainability.
The pace of technology is travelling faster than the consumer
While there are always early adopters, many consumers are still on the fence when it comes to new technology. It’s clear that there’s a huge amount of education that is required before there’s full adoption of bleeding-edge tech. There is still apprehension towards new technology with 42 per cent of readers saying their next car would be electric yet 67 per cent are not yet ready to embrace self-driving technology. Over 85 per cent of readers also said they were not yet ready to embrace the metaverse. Convenience and customer service still reign supreme however with over 50 per cent of respondents having had their groceries delivered online.
We’re paying more attention to mental health
Marketers need to consider how they can shift from being a loud-speaker to fostering two-way communication and positive communities on social. Creating an open dialogue about mental health, not just with your employees but with your customer base, can foster a supportive community-minded environment, leading to long-lasting outcomes. Some 66 per cent of respondents have been affected by mental health challenges in the past year and 48 per cent have admitted to seeing a therapist in the last three years. Our relationship with social media is also complicated with 68 per cent agreeing social media has a negative impact on their mental health with 72 per cent saying they wish they spent less time on social media. Greater mental health awareness however has an optimistic future with people more open to discussing their concerns and stresses in the wake of initiatives such as RU OK Day and Movember.
