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Ndeye Diagne: #BizTrends2023: What's the next Great in our Great new world
In the last of our exclusive #BizTrends2023 interviews, host Rutendo Nyamuda chats to Ndeye Diagne about the next era which is refocusing and prioritising essentials.
As the world shifts priorities after the Covid-19 pandemic and during the global recession, brands need to prepare themselves for a new future.
“What I do see from what’s happening across the industry for brands is a sense of urgency in terms of redefining and refocusing,” says Diagne.
This interview is also available on YouTube, via downloadable App, Apple Podcasts, Spotify and IONO.FM.
“I think we are entering an era of focus where people, brands and communities are all relooking at where we want to be and refocusing on systems and processes.”
Shifting focus
Diagne says there is a sober realisation that everything is finite, and brands must focus on things that are essential.
But this is not only limited to brands and corporations, individuals in the workplace are also rejecting working for brands that do not share their values.
She comments: “We see it with Twitter for example where there was this warning of hardcore work. So many people decided that they want to focus on something else. And when I bring it to Africa we are also seeing in corporate Africa a lot of high achievers and high performers who are trying to refocus on something else, and things that will give them more meaning, and this unfortunately disproportionally affects women.”
Escaping
Diagne says migration is also a form of refocusing, and in Africa particularly we are seeing people who are facing economic issues moving away to find more economic and educational opportunities.
At a consumer level there is this huge trend around migration. We have identified this in Africa three years ago already, in Nigeria we call it the japa syndrome meaning escape or run away.
She adds that the biggest migration we will see is African talent moving away to refocus on their lives somewhere else, meanwhile the consumer will refocus on essentials and only buying things that matter.
“Brands need to find out how best to capture consumer spend where they are downgrading,” says Diagne.
A quest for value
In 2023 and beyond there will be a quest for value and questions will arise about what is essential which will ultimately mean different things for people.
This means that some consumers will prioritise leisure, beauty, gaming, entertainment and time off.
But Diagne says brands that do not focus on sustainability will struggle in the future.
There is no brand that is going to be in the future if they are not baking sustainability into their strategies.
She said sustainability is not just about climate change but all sustainable development goals.
“If permacrisis is the word for 2022 well then an urgency to stay grounded emerges in 2023. That means a focus on the essentials and for brands and human beings to have a lot of compassion. I think there is a time for compassion in everything that we do and that is going to be more and more important. I think the framework that will be at play is reconsidering what’s at stake, rediscover how you show up as a person and as a brand and keeping focused,” concludes Diagne.
Ndeye Diagne is the managing director for the West Africa, Insights Division at Kantar.
In conversation with Rutendo Nyamuda. Founder Tinzwe Media. @roo10dough | www.tinzwemedia.com
