New consumer research has found that South Africans’ deep appreciation of money, time, and relationships, has resulted in the creation of a whole new set of value systems and priorities.
The trend, coined ‘Uncompromised Values’, comes from a new report launched this week by consumer insight agency InSites Consulting. Data from the report finds that nine in 10 consumers in South Africa have a positive affiliation (based on attitude and/or behaviour) with this trend, and it is even more prevalent amongst NextGen consumers.
In fact, it is common that trends score significantly higher with NextGen consumers (Millennials and Gen Z). Joeri Van den Bergh, NextGen expert at InSites Consulting and London Business School certified alumnus of the Sustainability Leadership and Corporate Responsibility executive course, explains: “In this inter-Covid time, we found that young generations are eager to re-start their lives by looking for new ways to stimulate their senses, connecting more inclusively and just having spontaneous moments of fun and escapism.”
The Consumer Trends Report 2022: Rebound + Rebalance identifies 10 consumer trends that will define the attitude and behaviour of consumers around the world in the year ahead. South Africa is way ahead of the global average score for the ‘Uncompromised Values’ trend. While the trend is considered nascent in some European markets, it is classified as ‘expanding’ in South Africa.
Henk Pretorius, managing partner at InSites Consulting, said: “With such a high trend score, it is clear that this trend is really manifesting in South African society. Brands should look to help consumers make their monthly spend work harder, or offer products and services that recognise the need for radical flexibility.”
The Consumer Trends Report 2022: Rebound + Rebalance summarises data from a two-part proprietary study conducted with over 15 000 consumers in 17 markets in November 2021. Key highlights from the report include:
- The self-optimisation culture is slowing down but cultural expectations to succeed still exist – South African consumers want brands to help them overcome this tension and support self-improvement journeys, with over nine in 10 showing a desire to create positive yet realistic rituals.
- Age no longer defines the path we’re expected to take in life – Almost nine in 10 NextGen (Millennials and Gen Z) consumers in South Africa want to rip up the life-stage rule book.
- Things which society has always presented to us as ‘normal’ are being questioned – eight in 10 consumers in South Africa are tuning into products and services that represent reality.
Lily Charnock, culture + trends director, described the context for the report: “The Covid-19 pandemic gifted many people with spare time yet failed to deliver the happiness expected from this. Global upheaval and changing work-life routines have intensified our complex relationship with time, leading to a collective review of how we spend it.
Amid the ongoing uncertainty, people have prioritised small moments of joy and living for today. Yet, as we enter a new year unsure of what’s to come, we search for stability by setting long-term goals. It is this duality – balancing pleasure against purpose – that we all seek to fulfil to achieve happiness in 2022. The trends identified in this report are driven by a collective desire to satisfy this tension.”
Charnock added, “There is no shortage of trend reports available in our industry, and it’s often hard to grasp the value within. With our unique methodology, we not only identify trends, but contextualise and quantify them as well. In doing so, we can apply them to a brand’s business challenges, thus driving consumer centricity.”
Click here download a copy of the Consumer Trends Report 2022: Rebound + Rebalance.
The topic of the report will be unpacked further on Wednesday, 16 February at 9AM. Join Henk Pretorius and Lily Charnock from InSites Consulting as they highlight five of the 10 consumer trends in South Africa for 2022 and discuss the implications for brands. To register, click here.
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