Rethinking Value During a Cost of Living Crisis: A Roundup
We recently launched Rethinking value during a cost of living crisis – a report designed to educate brands on new cultural trends that have emerged due to the changing economic climate.
The report, researched by our Cultural Insights department and featuring data from our partners Statista Q, explores four trends that brands should be aware of when conducting their marketing now that consumer mindsets have changed.
The trends are:
- The Knowledge Flex: Value is expressed by flexing what you know, rather than what you have.
- New Materialism: People are rejecting and rebuilding old ideals of what ‘value’ looks like.
- Performative Denial: People are constructing and editing ‘the good life’ into being.
- Deliberate Living: Value is derived from consumption that brings outsized impact and joy.
To kick things off, we hosted an event at our London office, inviting guests from a range of companies, all eager to learn more about how they can adapt their social strategy to target consumers in the dawn of the 25p Freddo.
Paul Greenwood, our Head of Research & Insight and author of the report, was joined by the below panellists to discuss current social trends and how they have adapted their marketing strategy to the changing climate.
- Adam Leyland, Editor-in-Chief, The Grocer
- Saakshi Kaushik, Social Media Manager, Beauty Pie
- Poku Banks, Personal Finance Content Creator
We gave the audience a chance to ask questions to the panellists, who provided insight into their differing approaches to presenting content in their respective fields. Social Media Manager of Beauty Pie, Saakshi Kaushik, told us that “being transparent and open using social platforms will maintain trust with consumers”. Engagement with the audience is clear at Beauty Pie, with subscribers forming a Facebook group to facilitate meet ups and share their love of beauty and skincare.
For those who couldn’t attend the event, we hosted two webinars – one global and one in North America – to present the report to attendees across the globe. The webinars were hosted by Paul Greenwood, alongside Global Chief Strategy Officer, Mobbie Nazir and Group Director of Research & Insight, Devon Vipond. In case you missed it – find the global webinar recording here. Please get in touch if you’d like to see the North America webinar and hear more about their trends.
Findings have appeared in the press, including AdWeek, who covered the report exclusively in an interview with Mobbie Nazir. LBB, Mediashotz and other publications have also covered the report.