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T a ppi n g Foresi ght For I n s ight
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H a r nessi ng t he Pow e r of Time “We look at the present through a rear-view mirror. We march backwards into the future.” - Marshall McLuhan We live in a time of fast and ever-evolving technologies and consumer expectations. More than a fleeting movement, it’s been our modus operandi for over a decade now. Time has a funny way of interlinking the past to the present. Understanding this new continuum means spotting current socioeconomic and cultural drivers, and leaning into these insights to anticipate tomorrow’s consumer need.
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KEEP UP Brands continue to shift shapes as quickly as the changing of seasons, reacting in a way that delivers temporary benefit. With disjointed digital experiences and diminishing human presence, customer service has suffered. But, as far-off trends like AI, crypto and enterprise-wide sustainable practices become embedded into daily life, it won’t last for long. Fortune will ultimately favor the focused. You cannot change to meet every consumer demand, but you can identify the single hardest tension that is in your power to solve and in doing so, elevate your brand’s position above the noise. May this report inspire you to find unmet needs and new reasons for being.
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THE SURGE OF SINGLES + The growing global and multi-generational cohort of single consumers are reframing what it means to be partner-less and child-less. They relish in financial freedom and are driven by personal choice, spending more to treat themselves than those in relationships. And with the ballooning commerce opportunities of Galentine’s Day, Singles Awareness Day and beyond, this cohort represents a new lifestyle era waiting to be commoditized. Funding the Future FinTech startups are beginning to disrupt the way millennials bank, leaning into their multi-pronged financial goals that go beyond the aspirational family home of yesteryear. SoFi is one brand distinguishing itself by offering members job placement, career counseling and wealth management advice, and has even dabbled in the world of dating to match like-minded members at singles events. Institutions are continuing to expand investment opportunities in the form of education and advice—making trading easier and cheaper to attract singles to the investment game. Internet Attraction While an overwhelming 85% of American singles say they believe in love, only 43% say they need companionship to feel complete. To bring about more successful relationships, there is an increase of niche dating apps that speak to specific cultural needs. Hift is focused on adults living with STIs, promoting an inclusive community of like-minded singles to remove the stigma and instead encourage test-positive singles to
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find supportive relationships. And Twindog uses Tinder-like swiping mechanics to facilitate meetings between like-minded dog owners and their four-legged companions. Childless By Choice As cities attract more wealth and the costs of living soar, urban areas are experiencing a significant decline of birthrates and are instead becoming entertainment hubs for the young, rich and childless. In other words, our cities are repelling families, instead catering more and more to the significantly single.
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Brands that knee-jerk react and about-face with their positioning and identity strategies often end up confusing and alienating their consumer base. Those who choose to target singles and are laser-focused on the benefits they bring, the independent spirit they genuinely embody and why it matters, will be primed to succeed.
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CONSCIOUS CONSUMPTION + With mounting interest in knowing exactly how, where and when food and beverages make it from production to the consumer, alternative options continue to disrupt what’s expected from this new wave of wellness-driven consumers who view their choices as a chance to display their social values and elevated interests. From Burgers To Bait Impossible Foods, esteemed for their meat-free alternatives in chains like Burger King, announced plans to target seafood next in their mission to provide quality replacements for every animal-based food on the market by 2035. With marine fish stocks currently depleted by 90%, the opportunity grows to support the planet with positive purchases. Wild Type is another exploring fish-free alternatives with cellular agriculture technology to grow salmon in a lab, with one pound taking 3 ½ weeks to generate. Tea Gets Turnt For the modern consumer, tea is a conscious, elevated choice. But what if you could reap the medicinal benefits with a buzz on the side? From accompaniments like hops or malt, boozy teas are primed to take up significant shelf space. Hard kombucha is one tea twist that has seen overnight growth with bars and groceries nationwide commonly carrying a slew of brands like Booch Craft, June Shine and Kyla.
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More Than Mocktails Americans are drinking less these days, signaling a shift that opts for more well-rounded options in adult recreation. Sober bars are one way this is coming to fruition, popping up as alternative night-out options in New York City. This trend echoes the millennial and Gen Z larger movement of living life in focus, viewing drinking as increasingly risky and less “cool” for their overall wellness.
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Much like our rapid adoption to new technologies, the pace of alternative F&B adoption is catching up. This new mentality of openness and consciousness is turning formerly “anti-fun” lifestyle choices into cool and curated. But where this trend speaks to a small percentage of the global population, it may struggle at scale. Brands that explore incremental innovations or smaller-scale marketing initiatives can speak to consumer desire for new and noteworthy without alienating their existing user base.
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OUTDOOR OBSESSION + As urbanization trends expand, appetites for outdoor experiences that defy the norm continue to grow—further defining the values and lifestyles consumers are eager to adopt. Connected Exploration More than just destination travel, the new approach to experience is veering toward hyper-detailed trips that immerse the traveler in their location, connecting with local experts for activities that go far beyond the beaten path. Airbnb’s latest “Airbnb Adventures” gives travelers more than 200 different adventures worthy of the bucket list, like tracking lions with a biologist in Kenya and culinary kayak trips. And headlining the new list of adventure is Around the World in 80 Days, a limited trip across six continents and 18 countries. Approachable Epicness Over-the-top outdoor adventures are quickly shifting toward more spontaneous, micro outings that allow everyday adventurers to get up and go. From the adventure vehicles available at the click of a button through the Outdoorsy app, to the rentable plots of land found on Hipcamp, quick getaways take on new shapes and sizes in a way that is more affordable and accessible than ever.
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Outdoor Inclusion As demands for more inclusive offerings increase, the outdoor industry is taking notice. REI is one brand intentionally focusing on diversity and inclusion in stores as well as in its marketing efforts, with the primary goal to make the pool of people engaged in the outdoors bigger. Their recent “Force of Nature� campaign features women of all shapes, sizes and ethnic backgrounds to help further the message that the outdoors are for everyone.
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The outdoor category is changing, with traditional sports brands like Adidas and Under Armour launching their own flavor of nature pursuits. But when everyone lays claim to outdoor expertise, the aspirational allure runs the risk of being diminished. Only those who can attract the right spokespeople to tell the next chapter of their brand will continue to build legitimacy.
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“ A l l h u m a n behavi or has a r e as on . A l l b e h a v i or i s solvi ng a p r o b l e m.
- Michael Crichton Author
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HIGH TECH & HIGH TOUCH + Technology has intricately woven itself into our health systems to optimize resources and advance care. From wearables and widgets to alternative therapies and automation, patients increasingly want their healthcare services to integrate seamlessly with their lifestyle. Robotic RNs With the number of nursing jobs predicted to grow faster than other jobs at a rate of 15% from 2016 – 2026, (*U.S. Bureau of Labor Statistics) hospitals face staffing shortages affecting crucial patient care. Diligent Robotics is taking on the challenge with Moxi, a robot designed to run 30% of nurses’ daily tasks that don’t involve patient interactions. Quelling fears of human replacement, Moxi programs into electronic health records to help streamline nurses’ load and allow more patient interaction. Beta trials revealed that patients and staff alike, showed an affinity for the human-robot social interaction. Uniquely You In the realm of rare conditions, treatments often receive limited funding and lead to a gap in true solutions for patients. Thanks to a bevy of technological innovations, new entrants are beginning to displace status quo medications and even surgeries. Cala Health is one such provider introducing devices based in electrical medicine to treat conditions like Essential Tremor. Their first product, Cala Trio, is a simple, watch-like device that calibrates to a patient’s unique tremors pattern—giving them access to treatment when and where they want it.
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While hesitations around data security and the automation revolution exist, the push to better outcomes for patients will continue to prevail. If robots free up 50% of the workday by reducing mundane tasks, the opportunity exists to dedicate human resources to more impactful change in the healthcare realm and beyond. And with wearables offering more targeted treatments, systemic medications with side effects may be rendered a thing of the past. As familiarity with these disruptive methods increases, so too, does their ability to impact change.
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CANNABIS WITH A CONSCIENCE + As the cannabis category matures in awareness, education, and reach, conversations expand to cover complex issues that more traditional categories continually face head on. Ushering in a new narrative in cannabis, the marketplace tackles sustainability and social equity to create lasting brand ideals that go beyond a sea of green leaves and pot puns. Alternative Healing More and more people are looking to replace pharmaceutical drugs with alternative medicines. According to “Disruptor Daily” and Richard Harrington, CEO of Vaital Organics, “We are going back to the future in the western world. We are starting to treat the cause of disease, not the symptoms. Cannabis and its hundreds of individual cannabinoids, will become the global source for new medicines.” With the cannabis testing market expected to exceed $2.0 billion by 2025, the trend indicates a legitimate recognition of medicinal benefits, forcing the healthcare industry to take notice. Show Me What You Got As legalization expands, social justice has been slow to evolve, but a few cannabis leaders are working to make a change. California dispensary chain Caliva is leading the charge with strategic partnerships designed to put the spotlight on lags in the system. As the company’s newly announced Chief Brand Strategist, music mogul Jay-Z is using the brand platform to foster programs like workforce development for those
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previously incarcerated. Meanwhile, Caliva partnered with Ben & Jerry’s on 4/20 to support Clear My Record, helping expunge non-violent marijuana convictions from individual records. By building a strong ethos, these brands are showcasing credibility in the industry as a stepping stone to a more just path ahead.
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Growing and selling is no longer the highest hurdle in the cannabis category. With a booming marketplace, establishing long-lasting market share will require brand promises that go deeper than surface level. As legalization evolves by the day, people still continue to face, and return from, incarceration over non-violent marijuana convictions. In a new age of access, this subset of consumers can usher in more visibility into where cannabis has been, and where it’s going.
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THE GREAT PHARMACEUTICAL SHAKEUP + The pharmaceutical industry has long relied on a strategy that surrounds big-ticket molecules. But with the rise of customer expectations, the ecosystem is changing, and with it, payers will continue to intensify costs and scrutinize value. To maintain credibility, pharma brands are taking a hard look inward. Stretching The System As global populations surge, disease is on the rise, and with it an unprecedented burden on the healthcare system. According to PwC, chronic diseases are expected to increase to 57% by 2020, with about 60% of that burden occurring in emerging markets not ready to support the costs. To combat the pressure, healthcare at large is placing greater emphasis on preventive health solutions, opening the door for industries like retail, technology and fitness to bring innovative solutions to disease prevention. Trumping Transparency The recent push for pricing transparency has forced pharma companies to explore strategies that better meet both payer and patient needs. One area transparency is coming into focus is with patient data. To prove trustworthiness, pharma leaders are strengthening data capabilities by building track records that support genetic testing and diagnostics, real-time information for clinician decision-making, and unearthing new approaches to deal with health system maturities. One example is Verily Life Sciences’ recent partnership with giants Novartis, Otsuka Pharmaceutical, Pfizer, and Sanofi—focused on speeding up clinical research and trials.
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Unconvential Value Creation The pursuit of better outcomes is fueling an uptick in digital treatments. Wearables, ingestibles and implantables offer opportunities to prevent adverse effects before they happen. AstraZeneca recently partnered with Vida Health to trial an app that walks patients through the post-heart attack recovery process using live digital coaches. Meanwhile, non-traditional players shake things up with Amazon partnering with JPMorgan Chase to lower employer healthcare spending, and Apple partnering with hospitals to put medical records directly in patients’ hands.
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With the highest levels ever seen in Phase 3 failures, drug costs are increasing year-over-year. In order to maintain productivity, pharma brands will be forced to adopt strategies that prove they can remove costs on the healthcare system at large. More than just product, companies exploring complementary service models can work to sustain patient outcomes and meet them where they are.
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“ Th e s h i f t t o li felong lear nin g is a b s o l ut ely essent i al. As the p ac e o f t echnologi cal ch an ge q u i c k e n s , we need t o be sur e w e k e e p u p w i t h t he ri ght skil l s to t h r i v e i n t he Fou rt h Indus tr ial Re vo l u ti on.”
- Zvika Krieger World Economic Forum
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URBAN EVOLUTION + The great era of urbanization shows no signs of slowing. There are now 775 cities in America that have a population of more than 50,000, supporting a collective 127 million people who live in those cities. That’s nearly 40% of the total population in the country choosing to live in more urbanized locales. The fabric of America is evolving, and with it a further entrenched divide between the urban versus rural mindset. Political Pitfalls The national vote has been trending away from rural areas for more than a decade now, increasing prominence instead with urban and suburban locales. Estimates based on population growth through 2018 show seven states projected to gain congressional seats. With it comes a deepening divide—two parties representing two different Americas. An increasing number of grassroots organizations such as Represent US and Unite America are working to bridge the gap—with modern brands and novel approaches designed to speak specifically to those who feel disenfranchised. Reinvigorating The Forgotten Where growth divides, it also has the power to instigate alternative solutions that benefit everyone, regardless of zip code. Cities are continuing to give more complicated urban areas a second look, with purposeful design that considers the greater good—regardless of income or family dynamic. From the multi-family redevelopments of industrial neighborhoods like the Granary District in Salt Lake City, interest persists to reimagine old as new. And the trend is going global—
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to combat residential land supply shortage, the southern Chinese city of Shenzhen aims to redevelop more than 100 old industrial districts and 100 urban villages by 2020.
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Demographics are destiny. In order to solve both local and global challenges, there will need to be greater linkage between urban and rural centers, and greater insight into the needs of both. Mayors will likely become more aggressive by building affordable housing near downtown areas and citizens will look to the federal government to drive conversation around public policy.
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SERIOUS SUSTAINABILITY + As natural disasters and energy constraints continue to deliver tangible reminders of climate change’s effect on the world around us, governments, companies and individuals will finally come to terms with the need for drastic action. Generational Driver According to a 2019 Nielsen Global Sustainability report, three out of four Millennials are willing to pay more for sustainable offerings, even amidst persisting economic challenges. And while Millennials represent the greatest spending opportunity, consumers of all ages are becoming more environmentally conscious. Protecting the planet is no longer a generation-specific value, but rather a growing societal value. Walking The Green Walk According to 2018 PwC study, only 27 percent of brands include sustainability goals in their business strategy. To make a true impact, brands need to trigger a sense of responsibility in the hands of the consumer. Many are looking to the “Nudge Theory” by instigating small changes or ‘nudges’ to the consumer we can create behavior change without removing freedom of choice. One example is UK food delivery app Just Eat that trialed a pre-ticked box in check-out to encourage customers to opt out of receiving plastic they don’t need, such as cutlery, straws and sauce packets.
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Renewable Cities As renewable energy becomes more accessible, smart cities are being developed with green energy at the core of their sustainability. San Francisco is one, adopting an ambitious plan to reach 100% renewable energy by 2030. These cities will look to AI to optimize operations, making them more efficient in how they take in financial resources and generate electricity. One example is Google’s use of AI in renewable energy technologies, developing a neural network to accurately predict wind power output 36 hours ahead of the power being generated.
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Stressing the need for plastic-free options, Frankie Gillard from ‘A Plastic Planet’ notes that over 6.3 billion tons of plastic waste has been produced since the 1950s, yet only 9% has been recycled. Market leading brands represent a first-line defense. While sustainable practices from the top down might not be realistic, or financially viable, brands who have absolutely no sustainable practices will face mounting pressure from existing customers and communal entities at large.
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FINTECH GAINS FOOTHOLD + New finance entrants have long struggled to break into one of the oldest, most trust-based industries. With ample resources, strong compliance systems and a deep client base, traditional players have prospered in even the toughest economic times. But thanks to focused strategies, incumbent startups are innovating with technology and evolving mobile payments, that make it easier than ever to use, store and send money. Intelligent Bankers One quarter of retail banking customers today prefer using a voice assistant instead of visiting a physical bank location (Capgemini study, 2019), yet few institutions are taking advantage of the technology. The proof is in the pudding: Bank of America’s digital assistant Erica, has been used by more than seven million of the bank’s customers in its first year alone. And with the use of voice authentication, fingerprint, or other biometric technologies, the industry can find the right way to integrate voice to enhance experience while bolstering trust and personal connection in the process. Blockchain Billows While blockchain has failed to meet projected timelines for implementation, meaningful use cases are beginning to form. Many leaders are beginning to democratize the technology as a step forward to bringing masses into the fold. Amazon Web Services is making inroads with their subscription based blockchain-as-a-service platform,
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while other global leaders are playing in this space, including Samsung, Microsoft, IBM and China’s Alibaba. But what sets the stage for greater adoption takes blockchain beyond payments and cryptocurrencies, instead, using the tech as a safeguard in food safety, intellectual property and royalties, and real estate/ asset management for instance.
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With Millennials driving the adoption of new technologies, they are growing up associating core transactional services with technology and startup brands. But going beyond just mobile payments, this perception of newer as better could mean greater opportunities for investment firms, insurance providers, workplace solutions and more.
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Lo o k i n g To T he Fut u re
At BrandJuice, we’re always thinking about what’s next, with FuturefluenceTM strategies to fuel innovation, and insights to make it actionable. How can you alter your course, and trace back to the origins of your customer’s wants and needs? We can help connect the dots, powering purposeful strategy, uncommon innovation, and artful creation.
Le t’ s T a l k
Andrea Stone
M a na ging D irec to r
andrea.stone@brandjuice.com
Alexandra Hilker D irec to r
alexandra.hilker@brandjuice.com
b ra ndj uic e. c o m
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