The idea distilled.
Hearts are beginning to race with the cost of living, however hearts are up for grabs as consumers’ re-evaluate what they can and cannot live without. How are Australians determining what their ‘new essentials’ are in this new world?
If nothing else, four things to fuel your growth.
There are four distinct themes that are prevalent across the most resilient of purchases and/or services, marketers’ have an opportunity to leverage these thematics in the positioning of their proposition to ensure they avoid the trade-down or trade-off, they include;
- Being well – Health and wellness is the new priority for Australians
- Escapism – Aussies are also looking for ways to escape the grind, through either travel or simply switching on (or off)
- Share experience – We are all craving and prioritising shared experiences with friends, colleagues and family
- Micro Moments – Australians are cutting back, but still craving their moments of indulgence
Some additional food for thought…
- 58% are worried about their financial future
- 69% have changed their spending in the past 6 months, and 77% anticipate they will change in the next 12 months
- 44% are not financial literate, likely impacting their sense of control
