New consumer research has found out that Australians recognise that buying new, even when marketed as a greener alternative, cannot be sustainable.
Eco-conscious Aussies take pride in extending the life cycle of things in the best way. The trend, coined ‘Extending Life’, comes from a report by insight agency InSites Consulting.
Data from the report finds that 7 in 10 Australian consumers have a positive affiliation toward this trend and it is even more prevalent amongst NextGen consumers.
In fact, it is common that trends score significantly higher with NextGen consumers.
InSites Consulting’s Consumer Trends Report
“Young generations are eager to re-start their lives with new ways to stimulate their senses, connecting more inclusively and just having spontaneous moments of fun and escapism.”
The Consumer Trends Report 2022: Rebound + Rebalance identifies 10 consumer trends that will define the attitude and behaviour of consumers globally in the year ahead.
Whilst Australia matches the global average score for the ‘Extending Life’ trend, it leads the way compared to many of its neighbours in APAC like Singapore, Thailand, and Taiwan.
Joeri Van den Bergh, adds: “We know from previous studies that Aussies look to brands for help in taking care of the planet; and the ‘Extending Life’ trend is further evidence of this.”
“Brands should help to extend life cycles and minimise waste in creative but sustainable ways.”
The Consumer Trends Report 2022: Rebound + Rebalance summarises data from a two-part proprietary study conducted with over 15,000 consumers in 17 markets in November 2021.
Key highlights from the report include
The self-optimisation culture is slowing down but cultural expectations to succeed still exist – Aussie consumers want brands to help them overcome this tension and support self-improvement journeys, with 8 in 10 showing a desire to create positive yet realistic rituals.
Age no longer defines the path to take in life as 8 in 10 NextGen consumers in Australia want to rip up the life stage rule book, a score higher on average than their global peers.
Things which society had presented as normal are being questioned as Australians turn to products that represent reality, with 7 in 10 consumers identifying with this trend.
Lily Charnock, the Culture and Trends Director at InSites Consulting offered insights.
“The pandemic gifted many people with spare time yet failed to deliver the happiness expected from this. Global upheaval and changing work-life routines have intensified our complex relationship with time, leading to a collective review of how we spend it.”
“Amidst the uncertainty, people have prioritised small moments of joy and living for today.”
“As we enter a new year of uncertainty, we search for stability by setting long-term goals. It is this duality of balancing pleasure against purpose that we seek to fulfil to achieve happiness.”
“The trends identified in this report are driven by a collective desire to satisfy this tension. There is no shortage of trends in our industry and it’s hard to grasp the value within.”
“With our methodology, we identify trends, contextualise and quantify them so that we can apply them to a brand’s business challenges, thus driving consumer centricity.”