Honest brands will thrive with all those customers looking for real bargains
Transparency is the new black and only honest brands appeal to consumers.
Anger towards the Government and frustration with the lack of action by authorities means brands supporting 'local' will come to the fore as people look for social change, a consumer insight analyst has said.
Mindshare's Finian Murphy, pictured, says uncertainty is seeing consumers holding off from making long-term investments. Sharing ownership is becoming more popular. The success of Dublin Bikes has resulted in JCDecaux expanding the scheme to 5,000 bikes. Car pool websites are on the up and Daft.ie reports more demand for rentals.
Consumers not only know a lot about price, they are into bargains. Brands which can change price readily due to supply and demand will benefit.
Smartphones will grow in popularity and top brands can become stronger by using digital channels.
Consumers recommending brands will increase. Facebook Places will allow consumers to let brand owners know where they are and that will change behaviour. People will be rewarded for brand loyalty and provide the owner with valuable data.
The growing use of technology will have positive spin-offs. People will want to escape from the online world. Interest in adventure sports, music and the arts will increase as consumers look for alternatives to always being available.
Michael Cullen is editor of Marketing.ie magazine; firstname.lastname@example.org