The Insights Family has today (9 January) launched its Future Forecast 2023 report, which predicts 12 key trends in the kids, teens, parents and family universe to watch out for in the coming year.
This marks the fifth year of the report, which has previously predicted the rise of Direct to Consumer (2017), Generation Speak (2018), Co-Creation (2020) and last year predicted the furthering of flexible working.
This year’s predictions include:
- The perfect storm of post Covid impact and economic downturn will inevitably impact the sea of subscriptions on offer to consumers. Subscriptions will need to merge to stay relevant against this global economic background.
- Gaming will come to the high street by merging virtual experiences with real time shopping and event-based high street fun.
- Gamified communities will become a greater factor in your brand ecosystem in order to reach your target audience. How you execute it will be critical.
- Demonstrating your values and sustainability mission in an authentic way will be important in a world where audiences continue to increase their power and collective voice on brands that do or don’t adhere to their high standards – and most critically their spending power en masse could make or break your brand.
- Linear is making a return in the wake of economic concerns and the growing urge to cut costs.
- A ‘kid first’ world will continue to grow with non-kid focused sectors looking to develop their brand and marketing strategies to include family and kids. The power is with kids and that trend is only getting stronger.
- The eco system available to brands to reach an increasingly fragmented audience is growing. An ecosystem approach to your brand is critical to face 2023 with the chance of reaching kids, teens, parents and families.
“The world is changing. We are seeing throughout our data that kids and teens are becoming more influential within their households and amongst the family,” commented Nick Richardson, founder and ceo of The Insights Family. “Their attitudes, behaviour and consumption patterns are developing in line with the beliefs they hold true to themselves and will act upon. Kids and teens increased financial empowerment and connectivity has granted them greater power and influence than they have ever had before.
“That’s why here at The Insights Family, we have realigned our purpose to inspire organisations to put kids, teens, parents and families at the heart of everything they do.”
The Future Forecast 2023 report is available to download by visiting get.theinsightsfamily.com/futureforecast.
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