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Slow living era,
Brands shape a mindful future,
In a world that cares.
The great deceleration: VML's Future 100 report reveals 2024 consumer trends
VML's 'The Future 100: 2024' report has outlined 100 trends expected to shape consumer spending in the coming year. The report suggests we are in a 'Slow Living' era, also known as 'The Great Deceleration', where consumers are opting for a more mindful approach to life. According to the report, 79% of people believe the role of a brand has changed over the past five years, with top roles being to 'make the world a better place' (40%); 'improve people's health and wellbeing' (38%); and 'create a more positive and helpful future' (32%).
The report was co-authored by Emma Chiu and Marie Stafford, global intelligence directors at VML. To celebrate the 10th year of the Future 100, VML is launching F.L.I.C (Future. Learning. Interactive. Connected.), an interactive AI avatar that can answer real-time questions about the report. F.L.I.C was created using Epic Metahuman and will be streamed via Odyssey's Unreal Engine 5 based-app. F.L.I.C will be live on 6 February 2024 to coincide with live Future 100: 2024 launch events in London and New York.
"As 2024 unfolds, an intentional slowdown shifts the pace for people and businesses after years of rapid acceleration," said Chiu and Stafford. The Future 100 report covers 10 sectors and includes original consumer data from surveys in nine different countries, and interviews with experts across various fields. The report suggests a 'gentle optimism' is emerging, with Baby boomers rating the most positive scores for how they feel about their lives (7.4) and the lowest scores for positivity around the world (5).
The most pressing issue facing society today was cost of living (64%), followed by climate and protecting the planet (53%) and violence/crime (45%). The top 10 health challenges were stress (52%), mental illness/depression (49%) and pollution (47%). 91% of respondents want to feel more emotions in their lives and 70% prefer to spend money on experiences over things. Two-thirds of people globally want brands to help them feel intense emotions, according to VML Intelligence's 'The Age of Re-enchantment' 2023 study.
"Community and connection at scale are essential to 2024, with 67% of people agreeing that community is more important than one individual and 76% believe that technology helps bring people together. With most consumers looking for surprise, mystery, awe, and wonder in their lives, new experiences that engage a wide spectrum of emotions are in demand. A profound and enriching year awaits!" Chiu and Stafford added.
"The Future 100 is one of our most anticipated reports, and this year is no exception. With humans craving 'passion and togetherness' - particularly as we see AI becoming more and more mainstream - the time is right for brands to tap into this shift, and use technology to connect with humans on a deeper level as they opt for a more mindful approach for the year ahead," said Naomi Troni, Global Chief Marketing Officer at VML (pictured.)
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