The last three years have been a huge challenge for all of us, mainly due to the economic impacts left by the COVID-19 pandemic and the political unease and war between Russia and Ukraine.
All these led to many changes in consumer behaviour. It manifests in various ways, such as their product choices, how these products reflect their values, and how they purchase such products. Now more than ever, they prefer the digital route to get what they need and want.
This presents a good opportunity for businesses to catch up and adapt to how quickly consumer evolves. Through a microscopic view of consumers’ perspectives, we can discover where the gaps exist, which one of these problems should be prioritised, and understand what the real Elephant in the Room is – a top-down strategy applied without cultural behaviour clusterisation that can future-proof at nano level will create friction with teams and consumers. With this, there will be a disconnect from a valid great experience reflective of their needs.
The other side of the coin
As consumers’ priorities change, businesses should move and grow with their consumers by considering these:
Flip the coin
Replace friction with focus on what consumer behaviour says about their needs and what it means for your brand.
To truly flip the coin…
Comparative indexing of the market shows a truthful or incorrect representation that also maps out missing insights that validate information
Identify the differences in the consistency commonalities, where you will discover the nuances
Volume in age group allows you to discover percentage similarities that identify hereditary behaviours from generation to generation as well as differences that predict change
If you wish to know more about how we can partner to future-proof your business from macroeconomics with bottom-up validation, please book a workshop with us. You may also connect with us on a quick call for any questions or visit our myngroup.com for more information.
MYN Group bridges the disconnect between global top-down strategies and bottom-up market-level connections. Our #MYNHerd translates macroeconomic factors into microeconomic decisions while preserving cultural nuance. We interpret nano-level data where commonalities scale successful impact at the global level. We're the "grease" that gets corporate gears moving, getting things done, replacing friction with focus.
Want to know more about solutions? Email firstname.lastname@example.org and discover how we can partner.