2021 Forecast – The New Good Life
In 2021, a view of the new good life will emerge amidst the backdrop of the new culture being shaped.
People don’t believe that “the American dream” is necessarily possible for them anymore. For many, that economic and social contract has been broken. Add to that the fact that the pandemic has left people distrusting what the future can hold. Nothing no longer feels certain.
During 2020, people started to question the point of our longings and modern human norms. The pandemic has taught us that the desires and bustle of modern life don’t always align with fulfillment. Why worry about accumulating so much stuff that doesn’t make me happy? Why always be in such a hurry? Why be so busy? Why commute long distances? People started to realize what is truly important and what is really needed to survive. Yes, perhaps more rolls of toilet paper at home, but really more connection with those you love and the basics.
So, what does the new “good life” look like?
It will be simpler and that much more self-reliant. People have learned to slow down, do with less, enjoy simple pleasures, and create their own sense of fulfillment. Consumers will realize they can have the good life without having to have it all.
Thus, consumers’ values will shift based on these insights. And that means they will likely view your products differently through a new evaluation lens. So, it’s time to ask, what is your new value proposition in the context of the new good life?
The Consumer Forecast:
Consumers will align to a new view of the good life, one that is simpler and more self-reliant.
Why It Matters?
As consumers reconsider what is important to them, they will reshape what they value. Thus, how your products are valued will change. Certain categories will matter more (e.g., food, home goods, outdoor equipment), and others less (e.g., clothing, beauty, movie theaters). The price-value equation will shift accordingly.
What You Should Do:
Understand your consumer and what they value and how your product now fits into their new lives
Revisit innovation plans, evaluating new opportunities and considering what you should you sunset
Teach marketers how to have empathy for their consumers
The Agency Oneto is a disciplined yet agile business and brand strategy agency whose mission is to partner with leaders to make a positive impact on their business and brands and for their consumers and teams, unlocking potential.
We do work in Business Strategy, Brand Strategy, Portfolio Strategy, Brand & Product Positioning, Brand Architecture, Marketing Strategy, Content Strategy, Innovation Strategy & Process, Consumer Insights, and Trend Studies.
We also lead workshops and facilitate strategy and business planning sessions, provide advisory services, and offer Executive Coaching.