Parents Insights

FUTURE FORECASTING

The Insights Family launches its Future Forecast for 2023, predicting some of the key trends in the kids, teens, parents and family universe to watch out for this year.

This is the fifth year of our coveted Future Forecast 2023 report and is proving to be a highly anticipated and critical tool for the industries we work with to strategically plan for the year ahead. The report has previously predicted the rise of Direct to Consumer (2017), Generation Speak (2018), Co-Creation (2020) and last year predicted the furthering of flexible working.

This report is using our class of one insight methodology and ties into our purpose that aims to put kids, teens, parents and families at the heart of everything we do. The report, which uses the company’s extensive knowledge and insight of surveying more than c700,000 family members across 22 countries every year, has continued to track and monitor the impact of several key factors such as environment, economy, education, technology and changing audience habit. This results in a real-time understanding of these factors into how they are transforming the attitudes, behaviour, and consumption of kids, teens, parents and families around the world. This year's predictions include: ■ The perfect storm of post-

Covid impact and economic downturn will inevitably impact the sea of subscriptions on offer to consumers. Subscriptions will need to merge to stay relevant against this global economic background. ■ Gaming will come to the

high street by merging virtual experiences with real time shopping and eventbased high street fun. ■ Gamified communities will become a greater factor in your brand ecosystem in order to reach your target audience. How you execute it will be critical. ■ Demonstrating your values and sustainability mission in an authentic way will be important in a world where audiences continue to increase their power and collective voice on brands that do or don’t adhere to their high standards – and most critically their spending power en masse could make or break your brand. ■ Linear is making a return in the wake of economic concerns and the growing urge to cut costs. ■ A kid first world will continue to grow with non-kid focused sectors looking to develop their brand and marketing strategies to include family and kids. The power is with kids and that trend is only getting stronger. ■ The eco system available to brands to reach an increasingly fragmented audience is growing.

An ecosystem approach to your brand is critical to face 2023 with the chance of reaching kids, teens, parents and families.

Nick Richardson, founder at The Insights Family comments: “It feels only five minutes ago since we were writing our last Future Forecast. There is no doubt that kids, teens, parents and families are enduring a challenging time with conflict, inflation, poverty all on the rise, while food, disposable income and individuals' mental health all in decline. That said, our Future Forecast is intended to be a positive report making predictions on what we think could be coming next based on our research, data, insights, and instinct.

“We continue to see that the speed of change (which does not necessarily mean evolution) quickens, and with society becoming more fragmented, flash trends are rife and that means organisations need to increasingly take a data driven global, regional, and local approach to how they go about their business. And of course, that is what we exist to do, it is to provide you with the most reliable market intelligence on kids, teens, parents and families to help you make decisions with clarity and confidence.”

The complementary Future Forecast report is available to download by visiting: get. theinsightsfamily.com/futureforecast.

Left: Nick Richardson, founder, The Insights Family.

Below: Future Forecast 2023 predicts some of the key trends in the kids, teens, parents and family universe to watch out for this year.