As a result, it would be prudent for brands to expect that Australia’s zeitgeist in 2023 will continue to focus on interconnected wellbeing and social health. Insites Consulting’s new global consumer survey suggests the opposite. Amy Fridlund explains the reasons why.
Insites Consulting’s ‘What Matters in 2023‘report for 2023 identified 12 global trends, with Adaptable Essentials (a trend about being prepared and spending mindfully) and Life Rewilded (a trend about a renewed appreciation of the natural world and a desire for it to be more present in daily life) ranking as first and second.
Australia, however, has a higher index than the rest of world. This means that the impact will be greater on the businesses in Australia.
The research shows that 2023 will be a time of transition in terms of culture and environment. The report examines our collective desire to reinvent, transform and reimagine the world. The report also reveals what makes Australians tick, and how we differ from the rest the world in the 12 global trends.
InSites Consulting consulted a global network cultural experts to investigate how global and market factors are shaping the future audiences and categories. Researchers developed a framework for understanding the future based on psychological models of meaning.
Insites Consulting then spoke with consumers who are at the forefront of technology to better understand and contextualise these themes. Finaly, these trends have been quantified through a survey of over 15,000 people, including 1,000 Australians, to better understand the trends that will be most important in 2023.
The hearts and hands of Australians in 2023 may be utilitarian, but this does not mean that businesses providing food and recreation are the only ones who can meet our need for practical solutions.
The research indicates that there are opportunities in many different sectors. To take advantage of these trends, it is necessary to adapt product and service offerings creatively so that they meet the people where they want to be met.
Financial Services in Australia are the most influential in this trend, compared to indexing.
This is because it is a trend that is well-established in Australia, and has become more ingrained into the society. It is evident in the Finance Industry’s buy-now, pay-later offer, in earned-wage loans that are available to those who struggle from pay cheque-to-pay cheque, and increased access to unsecured loans by those with little assets.
This trend is a strong indicator that it will persist for a long time. It also indicates that Australians are changing their thinking and behavior in ways that businesses from all sectors should pay attention to and adapt.
Data suggests that Household Product and Media & Entertainment companies need to provide consumers with solutions to help them cope with the economic pressures they face today. This looks like refillable bottles with concentrated soaps and detergents that are less expensive. What will you be able to offer customers in the future who are more demanding?
These same products were also designed to meet ‘Life Rewilded,’ the second most popular trend in Australia. This idea was at the heart of local sustainable cleaning brands such as Koh, Zero Co. and others.
Koala Eco’s “Bring More Nature into Your Daily Life” slogan is a very literal way to embrace nature. The data shows that the Australian Home Improvement, Furniture, and Gardening Industries, along with Travel & Tourism are and will continue to be most influenced by this growing trend. People want to become more in tune and aligned with nature, physically, socially, and spiritually.
This trend goes beyond the economic and environment focus of sustainability to acknowledge that we are a part of a larger whole in deeper and more meaningful ways. Ecotourism has been around in Australia for many decades. Now, operators like Qantas are committed to eliminating single-use disposable plastics by 2050. Qantas, however, is not the local takeaway café that has decided to get rid of plastic cutlery.
Even a nonplastic spork requires teams of industrial designers and engineers to resolve the weights and balances issues. It’s not easy to meet carbon emission reduction targets when you run one of the world’s most remote airline fleets.
The ‘What Matters?’ report may at first seem lofty, but once understood, its implications are very practical and can translate into tactical initiatives that any business can implement.