Our Trendspotting Report, now in its third iteration, 2024, has charted shifting attitudes toward work, housing, and AI, with cost-of-living rising to top of mind for consumers.
Along with economic and financial pressures, polarisation between people in different life stages as well as gendered differences act as a
watch-out for brand strategists and marketers as demographic groups’ experiences are increasingly specific and unique.
The report explores 6 Key Trends:
- Frugal Sustainability – consumers balancing cost-of-living with sustainable ideals
- The Mooch Generation -18-24 year olds increasingly unable to leave home due to cost-pressures
- Inflation and the Gender Gap – women are more concerned about inflation
- AI: Devil or Deliverer – increasing numbers of Australians are aware of AI as both threat and tool
- Paradigm Shift at Work – side hustles and the gig economy are growing thanks to redundancies and cost-of-living crises
- Generation Jones – the overlooked 55-70 age group with the most discretionary spending.
In previous reports we highlighted trends that indicated how much Australia has changed; in this report we begin to see how these trends have long-term implications and what the run-on effects of the cost-of-living crisis are when combined with inflation, increasing numbers of workers in the gig economy and housing instability for younger generations. If brands are sensitive to these long-term consequences and put a consumer-first face on, they’ll be rewarded by loyalty and stability in otherwise turbulent times.
Now is the time to leverage insights and plan for your future brand success. Contact the team at Insights Exchange and let’s chat about what opportunities there are for you.
