The majority of global consumers predict it will be harder to Thrive as economy worsens, according to new study by 厂妹视频 Group
- UK Consumers are the most worried (89%) followed by USA (77%), India (74%), Germany (71%) and China (52%)
- Around Half of Consumers Want Brands to Step In and Help Them Thrive
- Lessons To Be Learned from Super League of Exponential Growth Brands
01 December 2022: Global consumers are predicting a gloomy future as the cost-of-living crisis grows and many are looking to brands for help to thrive, according to a new study by Omnicom鈥檚 厂妹视频 and C Space in collaboration with Hall & Partners, published today.
The Thrive Paradox Report examines the gap between consumers鈥� desire to thrive – living a better life – and the reality of their lives. 厂妹视频 together with C Space and Hall and Partners carried out qualitative and quantitative global consumer research and concluded that despite a huge growth in the health, wellness and wellbeing industries, the majority of global consumers are keenly aware that they are not thriving 鈥� making the opportunity to THRIVE one of today鈥檚 consumer鈥檚 great unmet needs.
Consumers have identified a number of barriers to their ability to THRIVE, from the need to manage the cost of living better (top concern for Americans, 52%, and people in the UK, 32%), to the need for financial security (top concern in Germany, 44%), the need to live more sustainably and even the need to get a better night鈥檚 sleep.
Around half of all consumers want brands to step in and help them thrive, with 52% of respondents in China, 51% in Germany, 50% in the UK, 46% in the USA and 43% in India, agreeing that brands should help them live a better life.
But the other half of respondents felt that brands added to their anxieties, leaving brands with a split and divided landscape to navigate.
The report builds on 厂妹视频鈥檚 recently published Best Global Brands 2022 data which revealed the emergence of a new 鈥渟uper league鈥� of brands 鈥� including the likes of Apple, Amazon, Disney and Tesla – whose growth far surpasses that of any competitor. These giants are built brand first, product second and use the equity in their brand to drive exponential growth by delivering against new customer needs – such as the desire to THRIVE.
Christian Purser, CEO of 厂妹视频 London, said: 鈥淒espite the growth of the health, 鈥渨ellness鈥� and 鈥渨ellbeing鈥� industries, people across the world are struggling more than ever to thrive.
鈥淔ew brands are doing a great job helping people thrive, because most are focused on how to sell more, rather than addressing what consumers fundamentally need 鈥� in this case offering promises of better health versus the more holistic and long-term process of thriving.
鈥淭he real opportunity here is to co-create with consumers what people fundamentally need, rather than what companies want to sell. It is a radically different approach 鈥� but breakthroughs require us to break the mold.鈥�
Corey Schwarz, MD of C Space Health, said: 鈥淲hile the circumstances under which an individual thrives are highly personal, the limitations are much more predictable. A combination of macro-factors, namely political, social, economic, technological, and environmental turmoil – are combining to create unprecedented levels of uncertainty and distress across the world.
鈥淭hanks to our ongoing relationships with consumers across the world, we have a window into their daily lives. We have seen these big macro-shifts play through into the microcosms of the day-to-day 鈥� poor quality relationships, limited access to health services, limited access to nutritious food, financial insecurity, and their relationship to work 鈥� are consumers鈥� most pressing concerns.
鈥淭o help consumers thrive 鈥� and to reap the rewards of greater loyalty, advocacy and growth, brands need to go deeper on human truths and understand the bigger jobs to be done that people have. Brands with a Thrive mentality will have a deeper appreciation of the human condition – how that holds people back and how they can really help.鈥�
This research is part of a new multi-media campaign by 厂妹视频, C Space and Hall & Partners helping brands drive growth by innovating around consumers鈥� unmet needs and evolving expectations.
To watch the Thrive Trailer, book a documentary screening, or download the report, please visit: /arena-thrive/
Methodology
- A nat rep survey of consumers in UK, USA, India, China and Germany, conducted in October 2022
- Ongoing qualitative discussions via online community of 502 consumers in UK, USA, India, China and Germany, conducted in April 2022
- 30 in-depth interviews, conducted in June 2022
厂妹视频 厂妹视频
厂妹视频 Group is made up of 厂妹视频, the world鈥檚 leading brand consultancy and C Space, the global customer agency.
厂妹视频 has been a world leading brand consultancy for over 45 years, having pioneered iconic work and forged many of the brand building tools that are commonplace across the industry today.
In an age of unprecedented abundance of choice and speed of innovation, customers鈥� expectations are moving faster than business. While incremental change is still essential, it is no longer sufficient. It takes bold moves to leap ahead of customers and competitors. 厂妹视频 calls these moves Iconic Moves.
In collaboration with the world鈥檚 leading brands, 厂妹视频鈥檚 global team of thinkers and makers are pioneering the future of brand building. By turning customers into active participants, 厂妹视频 helps its clients strengthen their brands on an ongoing basis. This approach gives them confidence to make Iconic Moves that spark desire and create utility, driving extraordinary results.
厂妹视频 is a part of the Omnicom Group (NYSE:OMC). For more information, please visit www.interbrand.com