Page 12 - The Five Forces of Everything

In 2016, a U.S. poll found that 78% of Millennials*

It has been said that we’re reaching would choose to spend money on experiences
the end of the middle. Mainstream over buying something material.
players appear to be losing out to small
insurgents offering something new and *Observed by HARRIS POLL
different. What’s causing this disruption?
According to research undertaken by Psychologists tell us that experiences,
the University of Washington, daily use such as vacations, concerts and meals
of social media is literally changing the out bring more enduring happiness
way our brains work. Constant online than material purchases, such as
stimulation is driving people to seek out high-end clothing and electronic
the same level of experience offline.
gadgets.
In other words, we are literally being We believe that people’s growing
rewired to break with what we know. preference for experiences presents
For the most powerful example of opportunities for brands to engage
this phenomena, consider Millennials in China. Dependency upon more of the human senses, to achieve
social media is perhaps the highest in the world, and this has created something altogether more profound.
extreme levels of propensity to try new products and services.
To achieve success, manufacturers must not only innovate fast, but Right: ‘Suffocation’. A publishing narrative has sprung up
frequently. Smaller, more agile, local brands are therefore gaining dedicated to living with less stuff.
momentum over international players.

But the bigger players are fighting back. Given that high
Unilever’s Marmite has created Crunchy
Peanut Butter in Europe and Nestlé’s value, emotionally
Kit Kat has launched Chilli Crab in Asia.
These launches demonstrate that the driven occasions are
mainstream is starting to take more risks. growing* it stands to reason that people want

Social commentator David Brooks observes something more meaningful from brands.
that society is moving from self-effacement
to self-promotion, presenting brands with *Observed by KANTAR World Panel
opportunities to support people’s need for
‘edgy relevance’ across their social media We believe brands have permission to push boundaries, be more
networks. All of which favors the fantastic adventurous and Be The Change. What will you do next?
over the familiar.

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FORCE #1 OBSERVATIONS | IMPLICATIONS | ILLUSTRATIONS