[Trends 2015] The power of the crowd

BMi market research chief executive officer, Gareth Pearson, outlines his consumer brand trends in brief, which will shape 2015, including the rise of eco brands; mychiatry services and product opportunity; and crowd-shaping product trends.

With the fast speed of change today, it is imperative for brands to track the trends driving the market:

Eco brands

Consumers looking to connect with brands, business models and products that are environmentally or socially responsible.

Choice rich, time poor

Consumers are actively trying to simplify their lives, some with financial security concerns, others questioning personal or career satisfaction and goals, against the constraint for having so many choices and selections to choose from.

Luxury please

Consumers are still looking to purchase luxury goods, however, they want to get their hands on these items for less. Good margins and gross profits are achievable.

People's choice

Consumers can influence purchasing habits thanks to social networks in real-time, so brands need to work harder to earn consumer loyalty.

Just app it

Unprecedented growth in apps for everyday use, helping consumers, but making them data and connectivity dependant.

Crowd shaping

People will pool their data, their profiles and their preferences, in groups to shape new goods and services.

Mychiatry

Consumer interest in 'quantified self' products and services will continue to grow, as smartwatches and other powerful tech products enter the market.

Omnichannel

'Always connected' consumers expect fast questions and answers or requests, meaning businesses will need to work extra hard to get in touch with shoppers across multi-channels.

Mobility tipping points

By estimated mid-2015, the smartphone tipping point will be reached in Africa. This will drive M&E Commerce more than ever, making Africa a single screen market that is bypassing the online phase.

Millennial power

Brands need to be cognitive thereof of what Millennials want and how they will shape brands and service usage.

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