46-47 LSB Insights Family 2023.qxp_NEW LSB 2008 GRID 12/01/2023 10:52 Page 1
THE INSIGHTS FAMILY RESEARCH
Predicting
the future The Insights Family launched its annual Future Forecast 2023 report in January this year, which looks to highlight some of the key trends coming out of the kids, teens, parents and family ecosystem, and what we should keep an eye out for over the next 12 months.
F
uture Forecast 2023 is the fifth iteration of the highly anticipated report and looks to build on its previous predictions such as the rise of the Direct to Consumer, or DTC model (2017), Generation Speak (2018) and the art of cocreation in the kids’ space (2020). The report has continued to track and monitor the impact of numerous key factors that impact the kids, teens, parents and family ecosystems such as Covid-19, advancing technology and the issue of climate change, and how these are evolving and transforming the attitudes, behaviour and consumption patterns of kids, teens, parents and families all over the world. Founder of The Insights Family, Nick Richardson, comments: “Our purpose is to inspire organisations to put kids, teens, parents and families at the heart of everything they do. There is no doubt that kids, teens, parents and families are enduring a challenging time with conflict, inflation, poverty all on the rise, while food, disposable income and individuals’ mental health all in decline. That said, our Future Forecast is intended to be a positive report making predictions on what we think could be coming next based on our research, data, insights and instinct.
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Inset: Nick Richardson, founder, The Insights Family. Below: Future Forecast 2023 is the fifth iteration of the report.
“There is no doubt that 2023 will represent some challenges for organisations, that said there are so many opportunities for organisations to re-purpose themselves for the next generation of consumers, whose attitudes, behaviour and consumption is so far removed from previous generations.” The Insights Family has highlighted 13 top trends to look out for – with these ranging from gaming making its way to the high street, the pace of evolution in digital learning, plus subscription services to come together and collaborate as linear TV begins to make a return to screens. The report’s key predictions include ‘the world will become kids-first’ as kids continue to grow more powerful as consumers, and force brands to adapt to the new dynamic. Furthermore, a key focus is placed on how