Predictions are a risky business. But we're bravely venturing again to list the many ways things will change in the future. In these articles, we have industry leaders and experts trying to future-gaze and capture the transformative and disruptive ideas and trends that will 'change everything as we know it' (or not). In 2022, definitely, maybe
A shift in consumer touchpoints during the past couple of years due to the pandemic will attract mainstream full-funnel marketing investments that will be sector agnostic; Image: Shutterstock
Heraclitus popularly said, “The only constant in life is change.” On some level, many of us have always subscribed to this viewpoint, but the past year or two made this amply evident. As a people, we embraced change like never before, whether we liked it or not. Our ways of living, working, eating, shopping, and socialising turned on their heads. I don’t think it will be off the mark to say that these behavioural changes are here to stay.
With that said and a new year being upon us, now is the perfect time to take a few moments and crystal gaze into what 2022 might look like in light of this. Here are my thoughts on the five trends likely to rise in the coming year.
Fight for a share of the consumer’s wallet
The ebbs and flows of the pandemic bumped up inflation levels, but incomes did not increase in the same vein. While a significant chunk of the out-of-home consumption market shifted to in-home last year, based on which the packaged foods industry gained, the tailwinds picked up from this will also slowly taper off as everything opens up. This means consumers will be cautious about the brands they choose to interact with and spend on. Automatically this puts the industry into a position of vying for the consumer’s limited spending intent. Brands that go beyond addressing a need gap by way of adding value to the consumer’s life are the ones that will win upfront.
The increased importance of holistic well-being