Euromonitor International has released their Global Consumer Trends report for 2022. These are trends that you should be aware of as they can dramatically impact the way consumers interact with your business. But what you truly want to know is how this is going to affect your franchise marketing efforts. Below we’ve summarized what this report entails and selected the four most relevant trends to the franchise industry. As franchise experts, we will discuss how you can use these trends to your advantage in your upcoming marketing activities this year.
Defining the top consumer trends
Having an understanding of these trends will help you visualize what is happening in the minds of consumers this year. We’ve summarized the four trends your franchise should be focusing on in 2022.
- The Great Life Refresh: This is an intrinsic revaluation of a consumer’s lifestyle, goals and values and perhaps the most intuitive trend of this year. There has been a coherent shift in the way consumers think following the global pandemic and many have already noticed this. When faced with adversity, many were forced to put into perspective what is truly important to them. The most apparent result seen by this mindset shift is consumers placing a higher importance on their lifestyle choices and wanting to participate in activities that improve their physical and mental health.
- Self-Love Seekers: Similarly to the values of the trend discussed above, consumers are also placing self-care at the forefront. Consequently, there is an increased importance on being conscious of the products and services they are consuming. Especially in regards to taking care of their bodies and minds. There is evidence suggesting that consumers are now willing to spend more when it comes to achieving this self-care lifestyle. Companies that can demonstrate they care for the well-being of their consumers will likely resonate with this mindset.
- Digital Seniors: The name of this trend speaks for itself as does the following statistic. Over 60% of consumers aged 60+ visited a social networking website as least once a week in 2021. With that in mind, it is important to note that this demographic is a predominant force at the top of the income bracket. This means an entire group of consumers with ample disposable income and more free time than the average working individual is now turning to online services to support their lifestyle.
- The Metaverse Movement: Following the pandemic, many have seen an increased reliance on technology. So it comes as no surprise that this particular trend is highly valued in the minds of consumers. However, they are truly embracing the ability to connect online in a variety of ways including technological advancement such as AI and VR. Now more than ever, businesses should be looking for innovative ways to increase their presence digitally as this movement will likely have immense hold on communicating capabilities and overall brand recognition.
Evidently, there are two distinct themes surrounding the four identified global consumer trends discussed above. These involve placing importance on a lifestyle that supports health and well-being and an emphasis on digitally driven endeavors. Understanding that these themes exist will help your franchise carry them out in future marketing efforts.
How do these trends affect my business
As part of a franchise, it is up to you to understand what your customers are looking for. While comprehending these trends may seem like a complicated process, you likely already incorporate many of these values into your daily business practices. Whether your entire business model is grounded in one of these trends or you embody these trends in the way you conduct business, it is highly probable the foundation for meeting the latest consumer needs is already there. Oftentimes, the most challenging aspect of this is communicating these values properly.
Incorporating these trends into your franchise marketing efforts
At Digital Stack, we work with all types of franchise verticals. We understand that the very best franchise managers, owners and operators live and breathe the values of their respective brands. Making sure this is evident to your consumer base will directly influence how they view your franchise.
Working within a franchise of any kind allows you to rely on the values already established with that parent brand. Many of these organizational values will emphasize a desire to increase the health and well-being of the customer already. Consequently, these ideals directly relate to current consumer trends. When you work in conjunction with these values, you are maintaining the image of the parent brand while also building loyalty and trust among your consumer base. Given the trends discussed above, this will directly align with their latest lifestyle goals.
Once you’ve demonstrated an authenticity to supporting the consumer’s desire for a lifestyle of personal well-being, you should look to communicate this digitally. According to the trends discussed above, the digital sector is becoming a primary resource to building brand recognition for a variety of demographics. Depending on your target audience, look for innovative ways to transform your marketing efforts online.
Overview of consumer trends in relation to franchise marketing efforts
Taking the two themes generated from the global consumer trends discussed above and working them into your marketing efforts is the most effective way for your franchise to interact with the 2022 consumer. Our team at Digital Stack has been working with franchised brands for 7+ years and understands the inherent advantage that comes along with communicating consumer values digitally.
Senior Brand Experience Manager, Lexie Stoker, indicates that there is a clear distinction when working with a franchise on who understands and communicates the parent brand’s values within each marketing effort.
“Franchisees that live and breathe their brand’s values bring so much to the table. They are excited about sharing what they can do for their community and believe in what they are promoting to their local consumers. Consumers are smart and they pick up on authenticity.”– Lexie Stoker
In her experience, these marketing efforts perform more successfully overall. Now more than ever, people appreciate brands who place high value on their well-being and make this clear at every part of the consumer journey.
Digital Stack is dedicated to helping franchises meet the overarching goal of incorporating the latest consumer trends into a digital marketing plan across a global market. We offer many features that can seamlessly implement these trends into your franchise marketing efforts moving forward.
To access the complete Euromonitor International Report, download it HERE.
To learn more about Digital Stack, visit https://digitalstack.io/