21st Century Consumer Trends – The Big Picture

July 19th, 2010

21st Century Trends I’m looking at Faith Popcorn’s Brain Reserve Website and wondering:

How will these general social trends shape the future of the overseas property business?

The headline trend of Materialism to Post Materialism could spell bad news for the industry. Without some realignment, it could even spell the end of it.

The predicted shifts from Self-interest to Selflessness, Ownership to Experience, Materiality to Spirituality, Reality to Virtuality, Tangibles to Intangibles and Money to Time could all signal a shift away from the desire to own a property abroad – perhaps the very epitome of self interest, ownership, materiality, reality, tangible that money can buy.

If these trends are already taking place and gathering momentum, what should the response be from an industry that may find itself out-of-sorts with a new wave of customer requirements?

As I mentioned before, I’ve got a couple of reasons for rating Faith’s ability to see into the future:

  1. She’s been very right, almost prophetic before.
  2. Roy Williams (himself, no slouch at seeing the big picture) also rates her.

In parallel to the ‘big picture’ trends above, Faith sees these 17 trends as being influential in the coming decade:

  1. 99 Lives – Too fast a pace, too little time, causes societal schizophrenia and forces us to assume multiple roles.
  2. Anchoring – A reaching back to our spiritual roots, taking what was secure from the past in order to be ready for the future.
  3. AtmosFear – Polluted air, contaminated water and tainted food stir up a storm of consumer doubt and uncertainty.
  4. Being Alive – Awareness that good health extends longevity and leads to a new way of life.
  5. Cashing Out – Working women and men, questioning personal/career satisfaction and goals, opt for simpler living.
  6. Clanning – Belonging to a group that represents common feelings, causes or ideals; validating one’s own belief system.
  7. Cocooning – The need to protect oneself from the harsh, unpredictable realities of the outside world.
  8. Down-Aging – Nostalgic for their carefree childhood, baby boomers find comfort in familiar pursuits and products from their youth.
  9. Egonomics – To offset a depersonalized society, consumers crave recognition of their individuality.
  10. EVEolution – The way women think and behave is impacting business, causing a marketing shift away from a hierarchical model toward a relational one.
  11. Fantasy Adventure – Modern age whets our desire for roads untaken.
  12. FutureTense – Consumers, anxiety-ridden by simultaneous social, economic, political and ethical chaos, find themselves beyond their ability to cope today or imagine tomorrow.
  13. Icon Toppling – A new socioquake transforms the world as the pillars of society are questioned and rejected.
  14. Pleasure Revenge – Consumers are having a secret bacchanal. They’re mad as hell and want to cut loose again.
  15. SOS: Save Our Society – Rediscovering a social conscience of ethics, passion and compassion.
  16. Small Indulgences – Stressed-out consumers want to indulge in affordable luxuries and seek ways to reward themselves.
  17. Vigilante Consumer – The consumer manipulates marketers and the marketplace through pressure, protest and politics.
  18. Conclusion: Overseas Property & Consumer Trends

In her book, The Popcorn Report, Faith says that if a business can positively align itself with these trends, then it is likely to be carried upward on the swell of consumer sentiment. If the business finds itself in conflict however, consumers will leave it for dead.

I’m working on the assumption that Faith is right (on all these counts), and I’ll be looking at each trend individually and asking:

Is the overseas property business aligned or in conflict with this trend?

I’ll try and score each of these 17 trends positively or negatively to see how our industry might need to adapt to stay in step with consumer trends. Your feedback and opinion are welcome.

Martin Dell, Kyero.com

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