Ruthless shoppers now expect bargains in their search for better value
Consumers are ruthlessly demanding value from brands and now expect bargains, the boss of one of Ireland's media buying agencies says.
Carat Ireland chief executive Ciaran Cunningham, right, says he expects people to shop more often in discount stores, as well as focusing on getting genuine bargains online.
Mr Cunningham said that there would a bigger demand for brands they see as being "honest, authentic, transparent and consistent".
The internet is allowing consumers to engage, complain or spread word of mouth, either negative or positive, to their peers and the wider world.
"Sustainable", "natural" and "homemade" are this year's buzz words. The changes will affect advertising and media with lower consumer demand and over supply on all fronts.
Advertisers will ensure every euro in marketing spend is working as hard as possible. Digital will provide more data about customers, including their behaviour, interests, buying habits and the brands that excite them most.
Carat forecasts a 3pc fall in the media market, from €820m last year to €795m this year. Television will continue to provide "emotional central heating".
Most media audiences remain robust and their role has not been devalued by the arrival of digital.
Carat clients include Bank of Ireland, Bord Bia, Dunnes Stores, Glanbia, Kellogg's, Nivea and Nokia.