Family 2023 Future Forecast Report has been released. Using knowledge and insight from surveying more than 700,000 family members across 22 countries, the report tracks and monitors the impact of several key factors such as environment, economy, education, technology and changing audience habits.
This year’s predictions include:
• The perfect storm of post-COVID impact and economic downturn will inevitably impact the sea of subscriptions on offer to consumers. Subscriptions will need to merge to stay relevant against this global economic background.
• Gaming will come to retailers by merging virtual experiences with real-time shopping and event-based fun.
• Gamified communities will become a greater factor in brand ecosystems to reach target audiences and execution will be critical.
• Demonstrating values and sustainability mission in an authentic way will be important in a world where audiences continue to increase their power and collective voice on brands that do or don’t
• Linear is making a return in the wake of economic concerns and the growing urge to cut costs.
• A kid-first world will continue to grow with non-kid-focused sectors looking to develop brand and marketing strategies to include family and kids. The power is with kids and that trend is only getting stronger.
• The ecosystem available to brands to reach an increasingly fragmented audience is growing. An ecosystem approach to brands is critical to face 2023 with the chance of reaching kids, teens, parents and families.
“The world is changing,” says Nick Richardson, founder, chief executive officer, The Insights Family. “We are seeing throughout our data that kids and teens are becoming more influential within their households and amongst the family. Their attitudes, behavior and consumption patterns are developing in line with the beliefs they hold true to themselves and will act upon. Kids’ and teens’ increased financial empowerment and connectivity has granted them greater power and influence than they have ever had before.”
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