FU T U R E T HI N K I N G R E P OR T
INDIVIDUALISM JENNIFER CLAIRE | N0576765
CONTENTS PAGE:
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INTRODUCTION
TREND DRIVERS
THE FUTURE
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methodology
3 EVOLUTION OF INDIVIDUALISM
TREND CONCEQUENCES
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INDUSTRY IMPLICATIONS
STAGE 1 CONSIDERATIONS
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REFERENCES 3
ETHICS CLAUSE This submission is the result of my own work. All help and advice other than that received from tutors has been acknowledged and primary and secondary sources of information have been properly attributed. Should this statement prove to be untrue I recognise the right and duty of the board of examiners to recommend what action should be taken in line with the University’s regulations on assessment contained in its handbook.
Signed ............................................................... Name ………………………………………………… Date ............................
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1 INTRODUCTION
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AIM The report aims to explore the trend of
Individualism, how its original drivers impact society and its relevancy to the industries to gain an understanding of its impact on consumer behaviour.
To discover the meaning of individualism & how it could evolve
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GAIN AN UNDERSTANDING OF EACH MICRO TRENDS‘ IMPACT ON CONSUMERS
RESEARCH HOW INDUSTRIES ARE RESPONDING TO THE TREND
IS BEING INDIVIDUALISTIC ACHIEVABLE IN TODAY’S SOCIETY?
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2 methodology
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To analyse Individualism as a growing trend, the use of secondary research is vital in assessing the current developments of this new trend; which is heavily supported by the vast amount of data from online sources. As this is not a well-established trend, it also has limitations to its validity as it is still being shaped in society, meaning it hasn’t fully evolved. This means online sources are less reliable, as opinions can be subjective; making it a bias argument at times. Collecting information from data websites such as MINTEL, Forbes, Edited & WGSN can give trustworthy insights and figures into the current market surrounding the trend. News articles and reports have provided knowledge of current macro trends which have an impact on Individualisation as a whole. These have also provided counter-arguments which
has led to a well-rounded understanding of the trend in both positive and negative lights. The analysis of social media such as blogs and Instagram have posed positive insights to understanding Individualism through content analysis, leading to a deeper understanding of individuals. Analysing social consumer behaviour allows for a more current view of how brands are having an impact on consumer buying habits and what this means for the future of the trend. The analysis of secondary sources is the most relevant to the Individualism trend as it is new, research findings were hindered by the lack of statistical graphs and visuals.
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3 evolution of individualism 10
THEN VS. NOW We have stemmed from a traditional capitalist society where the importance of the ‘empowered-self’ from Calvinism logic, for the material world, has fed the validation for self-worth and possessive individualism today. We have broken-free from values that emphasise traditional family ties and fitting in, and have moved into postmodern individualistic values such as personal choice and self-expression.
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4 trend drivers 12
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1. postmodern consumerism The importance of Postmodern consumerism on individualism has been touched upon in the introduction, showing how the transcendence of the capitalist system impact has emphasised the true meaning of materialism today. Consumption is intimately tied to the creation and production of a sense of self’ (Todd, 2011) which has translated to brands in today’s society to co-create products with a deeper emotional value than its primary function. These products are then embedded with illusions of identity bought by the buyer which they may or may not know about. Postmodern consumerism suggests that consumption today impulses consumers to build a subconscious image of their distinctiveness, communicating to society through a ‘language’ that creates a sense of who we are (Baudrillard 1994). The term “identity” which signifies “individuality” (Webster 669) can now be replaced or changed through the concept of making a new materialistic ‘self’. The influence of consumerism allows a person to feel like they are constructing or developing a new identity through purchasing new symbolic products that show our position in society. Contrasting the view that we are not defined by what we own, consumerism allows us to progress into a new identity through specific purchasing habits which leaves us feeling liberated and offers us a short-term sense of fulfilment. We are stepping away from conformity and now into a society where identity is an adornment that can be put on or off, driving the need to become more individualistic. This cultural consumption of the subconscious need to construct identity through products is now allowing marketers to sell the idea of ‘We become what we consume’ (Mackay).
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2. social media Social media is used today as a platform of expression, to hinder individuality or empower expressionism. With 7 million people publish blogs on blogging websites, and another 12 million write blogs via their social networks (NM Incite), it is a way in which consumers are now taking inspiration and creating purchasing habits. Despite social media encouraging individualism, it could be opposed that it is becoming more collectivist through ‘Instagram Trends’ that are encouraging consumers to purchase accordingly. A study by New York Times Consumer Insight Group revealed the motivations and participants cited for sharing information on social media with 94% sharing information that is valuable to them and 84% sharing to support a cause they felt emotional towards. This individualistic culture feels free to ‘re-post’ things that have a depth of meaning to them. With brands dominating social media with the influence of online shopping and inspiration, this implies consumers are interacting with brands in a way that they feel connected in sharing their individual views or expressions. It is important that there is a balance between collectivism and individualism on social media to allow consumers to express their own views rather than being overwhelmed by content marketing which would lead towards collectivism instead.
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5 trend concequences 16
1.3 The IMPORTANCE OF MIlLENNIALS Millennials are the largest and most influential generation in history. What they want, and demand, is challenging how brands behave and market themselves. It is also mentioned these consumers are even “transforming today’s packaging landscape” (Primegroup, 2016). “Doing the right thing” is a big deal for this generation, they have social responsibility and are cause-driven when purchasing. Though they like to associate themselves with brands who are actively challenging global problems, even more importantly they’re keen to embrace products which make them feel special through a personal connection (Primegroup, 2016) . “Consumers – and more specifically millennials – love a customized, personalized experience, and leveraging packaging is the best way to tap into that”. Arnett says while millennials are often criticized for being so individualistic, they will be better off in the long run. (NPR, 2014)
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1. pERSONALISATION 1.1 unique is the new ‘cool’ Limited edition items are designed to make a existing product more sought after by distorting it with a unique or relevant twist using current trends. (MINTEL, 2016) “Nearly 24% of consumers like packaging that has an appealing design dedicated to a limited edition, seasonal or special release.” Consumers feel that the limited product gives them a sense of individuality from it not being easily obtained, it adds to the desire to be unique that brands use to challenge consumers to stand out from the crowd.
1.2 BRANDS NEED TO GET REAL Millennials prefer to be informed and involved with honest marketing and labelling as they want a genuine value exchange. They prefer targeted communication and are more likely to view brands as extensions of their own values and status. The Supermarket News Report, 2015, states consumers are receptive to products that state ‘finest’ or ‘free from’ as it offers transparency, as Millennials are becoming more cause-driven, this trend of ‘getting real’ with consumers is popular when responding to their needs and wants as ethical individuals. 76% of those want to be informed on specific topics.
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1.3 co-creation of products With co-creation being proclaimed as ‘the second largest innovation trend happening today’ (Business Week, 2010), from the rise of the participative, proactive consumer who ‘has more free time to do or create things rather than passively consume things’ (Shirky). Millennials are keen to adopt brands, and allowing them to stamp their own identity onto their favourite product fulfils their desires of wanting a one of a kind product whilst satisfying their me-phobia/ bubble mentality.
1.4 packaging influences In Euromonitor’s report on Millennial consumer spending behaviour, 62% said they are “more likely to become a loyal customer if a brand engages with them across social networks”. Premium packaging particularly is known to motivate consumers to share their excitement about a product or package on social media. (Dotcom Distribution Packaging Report, 2015). With ‘One in five US millennials is seeking custom or personalised packaging’, standing out conforms to these new individualistic values, helping them find their own identity in quirky visuals to add to their collection.
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2. SHARED INSPiration 2.1 thats so ‘INSTAGRAMABLE’ Being ‘Instagrammable’ is posting something that is worth sharing because of its visual distinctively. Brands drive engagement with their consumer over the use of aesthetics and pretty content with the appeal to consumers to look unique enough to post to their Instagram. Thus, this has promoted the need to share our individualistic style and tastes in attempt to further show our individualism through photos and exclusive content. ‘66% of millennials ages 13-33 think being the same as everyone else is boring’ (BCG, Global Consumer Sentiment Survey 2013) with the majority preferring to be considered ‘different’. A healthy identity actually depends on paying careful attention to what others think of us (Chamorro-Premuzic, 2014) therefore displaying our individualism is celebrated by likes on social media. Consumers that do show off themselves or experiences that are unique demonstrate a self-fulfilled consumer who wants to show off their newest purchase or experience as they feel it has sentimental or luxurious value. Contrasting this positive potential for brands, seeing what other people are sharing on Instagram can have a negative effect as people show off their materialistic possessions and decreases our confidence in our own lives. A never-ending stream of people ‘hotter and happier than you’ (Margolis, 2017) posts suggests it is merely now a competition of creative content. However, appealing to consumers’ needs as individuals rather than as a trend, consumers will respond through celebrating a product through this visual language if deemed ‘Instagrammable’ enough.
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2.2 girl empowerment 2.1 selfie empowerment
Fast fashion female-focused brands are utilising trends through selling self-expression and supporting customers in finding their own identity. ‘Our mission is to empower females globally to be confident in themselves and be who they want to be’ (Missguided). These brands are mostly effective towards millennials who are beginning to show Nunc blandit semper nunc, id porttitor sem porttitor non. Phasellus luctus commodo leo a eletheir self-expression andpurus grow into empowering young women. mentum. Donec et tincidunt nibh, non ultrices nibh. Vivamus sagittis arcu, sit amet semper tellus accumsan quis. Aliquam ut malesuada justo, nec semper enim.
A study performed by AgileOne, 2015, shows that 70% of
Praesent rutrum massa velmagna gravida sodales. Pellentesque nec malesuada lectus. AeneBritish consumers expect more personalised experiences an at ultricies tellus, a luctus nibh. Nulla ante neque, feugiat quis erat eu, matti vehicula dui. during online shopping. Taking Mauris a moreeros transparent approach to Quisque vitae fermentum neque. Aenean ultrices urna ac dignissim tempus. felis, pellentesque eu sodales vel, cursus et consumers ligula. Quisquewith tellus mauris, finibus pretium and sapien supportive at, a conversational voice in pretium finibus odio. content marketing, referring to the brand as a real life ‘BFF’ they
can turn to for inspiration towards their individualistic choices.
Brands are now advertising in a direct feminine way, with pink, being the colour of the moment, with ‘millennial’ pinks and pastels saturating social feeds. Brands are confident in strong feminist spirit and encourage consumers to stand with them in promoting their self-expression. This is reinforced from chatty language such as calling their consumers ‘Bestie’ and ‘Babe’ tapping into that relevant slang to convince consumers into an exclusive circle of girl-hood.
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2.1 INSTAGRAMMABLE SOCIETY
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6. industry implications 24
1. HEALTH
1.1 futuristic skin care Brands are creating the skincare of tomorrow with the use of technology to satisfy individual needs and desires through their health habits. The result is a truly personalised skincare regime which is specific to the consumer as one size does not fit all anymore. Arguably nothing is more individualistic than DNA, and having a product that can utilise this is exceeding the needs and desires of the skin care market.
1. GENEU:
Britain’s new science-led DNA skin care brand has seen personalised skincare to a new level, through targeting consumers own DNA. The serums contain active ingredients at the exact concentration deemed beneficial to each person. Despite offering consumers an entirely personalised skincare regime, consumers may feel that exposing their DNA is a highly personal and may find it too intrusive to their privacy. Despite this being the potential future of skincare, many consumers may not jump on board to protect their privacy. 25
1.2 feel good, look good This trend is literally raising a glass to good health with consumers constantly on the hunt for promises of ‘youth’, ‘beauty’ or ‘happiness’, the idea of drinking a beauty potion to improve their beauty regime is a must have. It is cordial for the health-conscious too who seek to include health benefits on the go within their lifestyle. 1.
FOUNTAIN:
Beauty brand Fountain is cashing in on the science behind that mantra. In a nutshell, Fountain make a range of high
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concentration liquid molecule supplements that targeted the body on a cellular level. Their ranges each target the body on a cellular level to improve areas of negativity or wellbeing. 1. OH YEAHH!
A selection of lip balms curated with a happy boosting complex that increases the level of serotonin produced by 2.8x in half an hour when applied. It’s predicted to become a £5bn industry by 2020 – but is it just a spoonful of pseudoscience? (Callaghan, 2015) says that “People like to think everything can just be sorted by popping a pill. It can’t.” Consumers get the instant gratification of a quick fix that is promised to them, but it is important to consider how valid these statements are and does this reflect brands transparency as an important consideration?
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2. beauty
2.1 ID make-up Consumer demand for more tailored and personalised beauty and personal care products is impacting every aspect of product development, from packaging through to formulation and beyond (Pitman, 2017). Beauty brands have taken the next step in innovative advances to cater to a wider demographic, giving their consumers their own exclusive ‘ID’ identity foundation that no one else has. This generated a great deal of excitement among brand loyalists and cosmetic consumers.
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1. LANCOME CUSTOM MADE FOUNDATION
Lancôme’s have exemplified this brilliantly through their foundation, allowing it to be totally inclusive which is especially important in today’s diverse society to suit specific needs rather than relying on mass-customisation. ‘The result is the epitome of luxury and personal service: made-to-measure makeup.’ (LANCOME, 2016) Fast Company, 2016, suggests ‘This is not a trend. This is something consumers are wanting and demanding’. However, the lack of availability mass-market and expensive price tags of these products relate to them being only a luxury item, restricting those with less disposable income to only a limited shade range which is not representative of their true shade.
2.2 SCENT AS AN IDENTITY Fragrance brands are turning to personalised services that assess individual preferences to help consumers to find their perfect scent. Purchases are driven by personal aspirations that define their identity, particularly Millennials, that expect ‘personalisation as part of the experience as they look for products that reflect their sense of individuality’ (MINTEL, 2016). Premium services
have responded to this trend in offering consumers the opportunity to work on their own bespoke fragrance formulae. 1. THE LIBRARY OF FRAGRANCE:
They have given consumers the opportunity to express themselves in scent, responding to their individual preferences within the beauty market.
However, MINTEL finds that the appeal of hands-on customisation in fragrance remains extremely niche, with as little as 3-7% of European fragrance users saying that they often like to customise their own scents. However, it is important to notice how brands are taking on this challenge, adapting to consumer demand. 29
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2.3 nutricosmetics ‘Ingestible beauty is a real revolution, it’s come in part of the wellness revolution’ (Oates, 2017). With consumers fascinated over unique products curated for their needs, the trend is set to reach £4.8 billion by 2020. ‘The increasing holistic approach to beauty and skin wellness has come about as consumers begin to better understand the link between inner health and outer beauty’ (Prasad, 2016).
1. DOPE NATURALLY
Designed to deliver optimal beauty from the inside out, the brand offers pure, plant-based ingestible beauty and wellness superfood blends. 1. SMOOTHIE BEAUTY
An organic food-based skincare brand that uses pure, sustainably sourced ingredients to target different consumer. Consumers can also subscribe to handpicked Mellor, 2015, contradicts that ‘We monthly subscriptions are all becoming more scientific as a catered to their skin type. society, but when you’re talking about something like beauty and the health of the skin, it can be quite subjective.’ As these products are seen to tackle consumer issues, is there really enough science – if any – to back up the seductive claims of ingestible beauty products? 31
3. lifestyle
3.1 SUBSCRIPTION BOXES Consumer attitudes towards what brands can offer them are rapidly increasing, with brands now meeting their specific needs through exclusive subscription boxes. In April 2017, subscription box websites had 37 million visitors. Forbes, 2017, has assessed that successful subscription boxes are adapting and personalizing their boxes to each individual consumer.
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1. A Box of Happiness: The Happiness Planner
Each month’s box has a different theme, all of which centre around self-development and positive thinking. The themes prompt consumers into buying tailored products with a sense of individuality.
Barstow, 2016, argues that it is curiosity that drives the success of these boxes, acting as a short-term fad, not the desire to be individualistic.This provides an alternative view and poses the question, how long will this trend satisfy consumer needs before coming the norm?
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3.2 indulgent packaging More than half of customers (61%) say they prefer custom products and custom designs (Keller, 2016) which brands are starting to use to showcase their individuality through visuals or the quality of the product. ‘The luxury packaging market is thriving globally as consumers continue to expect more from this aspect of their purchase.’. Wilson, 2015 also communicates the idea that packaging is now as important
as the product in symbolising individual values. 1. DIZ-DIZ POPCORN:
The brand has created a luxurious buzz for its consumers with Haines, 2016 labelling it as ‘too luxurious to eat’ admitting it ‘turns snacking into a luxurious experience’.
As the global recession continues to influence spending habits and social trends, we are witnessing the death of conspicuous consumption and the rise of a new luxury aesthetic (Bainbridge, 2013), showing that consumer attitudes are adapting from needs to luxury desires. 35
7. the future 36
With the advancement of technology in the future of marketing, brands are satisfying needs as a niche rather than the theory ‘one size fits all’. With this new approach to tackling consumer needs, consumer expectations will increase for brands to cater to every exact need in a mass-production market which poses the question of - ‘Is being individualistic achievable in today’s society?’ With consumers becoming influenced by the same industry trends, in essence, we are becoming more collectivist by what we want as consumers. The future lies between brands working with consumers to optimise their experience with a brand. As Millennials have been defined as a generation who are cause-driven, ethical and luxury marketing have strong potential in meeting both their purchasing expectations and desires. This report concludes the idea that Individualism, as a long-term growing trend, has a huge impact on society already through content marketing. It has argued that consumerism today is made up of ‘Instagrammable moments’ that show the progress of products as materialistic possessions and long-term solutuions to their individualistic needs e.g. Subscription boxes. Nonetheless, the research has addressed that there are limitations to the success of brands and how it does/ does not satisfy all consumers as a collectivist group, but innovations are driving this t rend in a positive direction for consumers and brands.
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8 STAGE 1 CONSIDERATIONS
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How does the impact of individualism on Millennials influence the desire of materialism today?
How do brands visually attract and influence consumer behaviour into an purchasing a product or service?
Does the impact of Millennial behaviour on luxury consumption reflect the future of brands and their need to inspire their consumer? 39
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9. references
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IMAGES: https://www.wgsn.com/content/image_viewer/#/image.27513064/set/%5B%22image.27513062%22,%22image.27499098%22,%22image.27513061%22,%22image.27513067%22,%22image.27513064%22,%22image.27513063%22%5D https://www.wgsn.com/content/image_viewer/#/image.27513170/set/%5B%22image.27513170%22,%22image.27513177%22,%22image.27513174%22,%22image.27513175%22,%22image.27513171%22,%22image.27513173%22%5D https://www.pinterest.co.uk/pin/432556739194803534/ https://www.google.co.uk/search?q=fountain+molecule&tbm=isch&source=lnt&tbs=isz:l&sa=X&ved=0ahUKEwi5kYPE1bLXAhXS5qQKHbM8CEMQpwUIHw&biw=1219&bih=631&dpr=2#imgdii=trYXBI0vRzxqoM:&imgrc=uddHKO_2G88LxM: http://krupaaroundtown.com/whats-in-my-birchbox-february-2017/ https://www.google.co.uk/search?q=the+happiness+planner+subscription+box&tbm=isch&source=lnt&tbs=isz:l&sa=X&ved=0ahUKEwj-q4vO17LXAhWFCuwKHWl5AvYQpwUIHw&biw=1219&bih=631&dpr=2#imgrc=QQJFJMt4N4D53M: https://www.google.co.uk/search?q=diz+diz+popcorn&tbm=isch&source=lnt&tbs=isz:l&sa=X&ved=0ahUKEwj3nfXP2LLXAhWHpaQKHVV9BXoQpwUIHw&biw=1219&bih=631&dpr=2#imgrc=LNVbvgx4uAzCHM:
https://www.pinterest.co.uk/pin/543176405039643381/
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future thinking Word count: 3,005