What will shape our lives in 2023?
✌ KnowledgeHunt team curates startup knowledge for your growth. Today we hunted a truly amazing resource - 'Life Trends 2023' by Accenture
đź“‹ This resource provides an overview of the changing power dynamic between brands and consumers, highlighting five key trends and the impact of technology on society
🔑 Access the guide to read about
- Control and power
- What’s going on
- What’s next
- I will survive
- I’m a believer
- OK, Creativity
- Signed, sealed, delivered
Trend 1 - I will survive
Waves of crises, one after the other, have come in to change people’s day-to-day lives. For some, crisis isn’t new but for others, it’s extremely destabilizing. People’s response to crisis is always (eventually) to adapt. As growing numbers of people internalize instability as a norm, the way they adapt will affect what they buy, and how they view brands and their employers—so companies
need to be ready.
Trend 2 - I'm a believer
A sense of belonging is one of humanity’s most basic needs—the feeling of being happy or comfortable as part of a group. In recent years, people have found belonging through interest groups on digital channels, and some of those habits have found a more permanent place in their lives. New technologies are building on the shift in behavior, enabling a new wave of
community-first, product-later models that boost customers’ connection with a brand. This will reshape loyalty programs to enable people to participate more in the brands they believe in. On the other side of the coin, it will enable brands
to explore new product-areas and enjoy more lucrative customer relationships.
Trend 3 - As it was
As debate continues around the return to the office, one thing is clear: for many people, it’s not yet a success. We’ve raised some of these issues before, but they haven’t been fixed and the consequences are becoming clearer. It comes down to the hard-to-measure, intangible benefits of office life that have gone missing— and this is intimately tied to the post-pandemic evolution of cities and their entire value proposition. Many continue to resist a return to pre-Covid work rituals, while others crave the rewards of being together. It’s time leaders went
back to the drawing board to make a logical, mutually beneficial plan.
Trend 4 - OK, Creativity
Artificial intelligence is breaking new ground and helping people harness their innate creativity. What was once a tool for companies to complete repetitive tasks is now a co-pilot that’s available to everyone as part of their creative process. Suddenly, anyone can create reasonable-quality language, image, and video content with seemingly little effort or learned skill. With developments
emerging at astonishing speed, companies need to be thinking about this now and working out how to stand out in a sea of decent content.
Trend 5 - Signed, sealed, delivered
A digital identity crisis is going on and brands should take note. The status quo of how personal data is used—and even misused—is long overdue for a change, and people may soon regain control through digital wallets containing tokens to represent ID, payment methods, loyalty cards, and more. Crucially, the default will be that they’ll decide how much data they share with organizations. For brands, it might replace data lost to cookie restrictions with first-party data
from people who voluntarily share it. The devil is in the details when designing the value concepts and building people’s trust in the technology’s ability to keep their most precious personal data safe. Defining how to ensure adoption is not a trivial task.
Conclusion
Shifts in control ultimately lead to shifts in power, and these seemingly small shifts in control will alter power dynamics on a systemic level.
Great thanks to the Accenture team for putting this amazing resource together!
You can access the full report here
