Board Converting News, February 8, 2021

Consumer Trends (CONT’D FROM PAGE 24)

should be transparent about how they monitor and use personal data; 38 percent of U.S. adults say they would spend a lot of money on wearable technology that detects potential health issues; and 56 percent of UK Gen Z con- sumers say they are concerned about the mental health implications of using technology devices too often. “What it means to connect with a brand virtually will evolve,” said the report. “It won’t be enough to just be on- line; rather, brands should consider how to deploy innova- tive tech to deliver elements of their brand, products and services in ways that add discernible experiential value that can’t be obtained through a static product page.” As social and environmental concerns continue to be- come increasingly central in the public consciousness, brands will be expected to creatively use digital technolo- gies to make it easier for a broader spectrum of consum- ers to participate in philanthropic and/or environmentally responsible activities in their own capacity. Sustainable Spaces

The pandemic will continue to expand digital experienc- es, making them increasingly a part of consumers’ lives, ir- regardless of demographic. This will provide opportunities for brands to cater to different types of consumers who are more accustomed to online services and interactions. “There is a need to make online experiences more diverse and inclusive and appeal to new and existing audiences,” said the report. “Online personalities and influencers will be key in achieving this, as will having a clear understand- ing of consumers’ individual needs.” Digital Dilemmas The benefits of a digitally connected life have been established but there are undeniable concerns, as well. There are certainly many negative impacts that may not be entirely understood for years. Eighty percent of Chinese adults say app developers

Sustainability has been a primary concern for consumers for many years and the pan- demic, like so many others areas of their daily lives, has made the increasingly aware of the spaces in which they live and has driven their demand for sustainability even higher. The report surmises that population stress and a new climate reality will drive politics, societies, science, and economics to inno- vate how we use our space more ethically. Consumer consciousness of sustainability will evolve beyond recycling and emissions into a more holistic, longer-term view. More than 40 percent of Americans strongly agree that it’s worth making indi- vidual sacrifices to protect the health of the greater community; 61 percent of Canadian adults disagree that nothing can be done to save the environment at this point; and 48 percent of Indian consumers strongly agree that, post COVID-19, they will buy more from local businesses. As consumers continue to demand in- creased transparency, they will increasingly scrutinize how brands plan to tackle sus- tainability challenges. Offsetting production processes will no longer be enough: con- sumers will want brands to be actively part of the solution, not just to clean up after them- selves, according to the report. “Consumers are more aware of how a culture of consumption has impacted the en- vironment and left them disconnected from how and where their purchases are pro- duced,” stated the report. “They are looking for brands to offer a better vision of how we reconnect with our spaces and resources in the future.”

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February 8, 2021

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