“As we enter 2023 with a tough economic outlook, value for money and a more modest mentality is going to impact all areas of American life — even in the workplace,” GWI consumer trends manager Laura Connell told WWD.
Connell said that the number of people who work while on the road or while traveling has increased 38 percent since Q3 2021, indicating that “the search for a simpler life is as much a cultural trend as it is an economic one.”
Another key finding in GWI’s research is that there is a growing distrust among consumers, especially toward the media, with misinformation and overexposure still rampant. According to its research, consumer distrust in U.S. media has grown 17 percent since Q2 2020, while trust in the news has dropped by 14 percent.
“If brands are able to do positive things when politicians can’t, it may help break through the noise,” said Connell. “Information and media coverage of sustainability is a good example of this. Consumers have grown tired of empty promises and over a third in the U.S. would be discouraged from buying from a brand if they made false sustainability or environmental claims.”
However, “brand blunders” continue to show that reduced consumer prioritization doesn’t mean companies are devoid of social responsibility, authenticity and inspiration. Rather, it indicates that brands will need to adjust how they communicate with consumers and their appetite for risk amid ever-growing competition.
“The key word here is impact,” said Connell. “Brands will need to continue adjusting how they communicate with consumers and thoroughly consider a multitude of factors, whether that’s the tone of an ad campaign, diverse representation in their media, or which celebrities or influencers they choose to endorse their products.
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