Bright colors to lift the mood and escape from the gray reality, value for money, quick and simple solutions for improving health and beauty, proof that brands care about the environment, are just some of the demands of consumers that will be relevant in the coming year, as revealed by Euromonitor, the leading global market research company based in London. Their goal is to help companies design marketing campaigns and growth plans in these challenging times of crisis, wars, and uncertainty.
AI Goes Further
Generative artificial intelligence has taken the world by storm. ChatGPT reached one hundred million users within two months of its launch, becoming one of the fastest-growing consumer applications in history, quickly followed by a surge of other applications relying on large language models (LLMs). Both consumers and brands are experimenting with generative AI, creating new consumer habits. Nearly 50 percent of Euromonitor’s respondents, professionals across various sectors from retail to travel, are considering AI’s potential to enhance the customer experience.
In sales, the highest expectations are placed on chatbots and voice assistants. Analyses show that more than 40 percent of consumers are satisfied with voice assistants that offer personalized recommendations. However, less than one-fifth feel the same about using bots to answer complex customer service questions, indicating room for improvement with generative AI in the coming year.
Euromonitor cites examples of creating customer experiences with the help of artificial intelligence. Coca-Cola has created Coca-Cola Y3000 Zero Sugar, a limited edition beverage whose taste represents a utopian future. The French retail chain Carrefour launched a new online shopping assistant named Hopla, allowing consumers to request product suggestions from the chatbot within their budget or based on dietary restrictions.
Google has introduced virtual clothing try-ons using generative AI technology, allowing customers to see how a piece of clothing looks on models with different body types and skin tones.
Bright Colors for a Better Feeling
Ekaterina Tretyakova, a consultant at Euromonitor, explains that in difficult times, people seek beautiful positive things that will at least briefly distract them from wars, climate change, inflation, and crisis.
– Brands are aware that consumers seek emotion, which is why experiential marketing is becoming increasingly important. Therefore, strong, bright colors that stimulate dopamine production will be emphasized in advertising, says Tretyakova.
The analysis showed that 55 percent of consumers prefer shopping in stores that have created attractive experiences, and 29 percent want brands to track their emotions and personalize experiences. This includes motivational messages, surprise gifts, birthday greetings, everything that brings a smile to consumers’ faces.
An example of such a marketing strategy is FIAT’s decision to eliminate gray from its cars and introduce new bright colors inspired by Italy, representing the values of the “Dolce Vita” brand. The goal is to bring joy to the road; they want to be a brand that represents optimism.
Do You Care for the Environment? Prove It
People are tired of greenwashing. After making significant efforts to protect the environment in their own surroundings, separating plastic, conserving energy, and being mindful of what they eat and buy, they expect brands to contribute equally, if not more, and are not satisfied with promises. Therefore, experts advise: before you start talking about what you plan or want to do to reduce your carbon footprint, take concrete steps in that direction, invest in reducing CO2 emissions, and only then transparently present this to your consumers. And be specific.
