The trends set to shape 2023 reflect the chaotic, overwhelming and relentless social climate of the past few years. From redefining values and hyper fatigue to intentional spending and unpuzzling health, next year’s themes are an expression of and response to a significant period in modern history.
So let’s delve into the 5 top trends for anyone looking to understand the consumer mindset for the year ahead.
1. Me Mentality: The demand for mental health and wellness focused products will grow as consumers
look to understand their blind or weaker spots and brands try to help fill in the gaps.
2. Power To The People: Brands have to make room for a new ‘c’ in their c-suite: consumers. This will be
an evolution where consumers are investing, co-creating and voting for change alongside brands,
shaping the future with their money and their voices.
3. Hyper Fatigue: The pandemic, the rising cost of living, the energy crisis, geopolitical unrest and the
climate crisis have taken their toll. Consumers are overwhelmed and brands will play a key role in
countering fatigue levels, empowering people to take control and helping them build a positive outlook
amid various challenges.
4. International Localism: With so much global uncertainty, there will be a greater movement to protect
local resources, boost local business. Consumers will use their reconnection with ‘local’ as a way to
protect themselves financially, environmentally and psychologically, and feel that they are giving back in
5. Intentional Spending: Consumers are refocusing on what value means to them and spending more
intentionally as a result. In a tough economic environment, consumers want to make smart financial
choices without sacrificing their quality of life and will grow more sceptical and discerning.
In short – ‘Value Redefined’. That’s the major theme of 2023. For the past year, consumers have been gravitating towards brands that provide quality, trust and confidence across their entire business. Next year? They won’t accept anything but. They will seek brands that listen, understand and respond to their core values throughout the entire supply change, with a particular interest in economic benefits.
In fact, Lu Ann Williams, the Global Insights Director at Innova, says it best: “It’s never been more important for companies to figure out what consumers value. Gen Z’s, in particular, research everything. They question everything and are active participants in all trends. The younger generation wants to be engaged with their brands because these represent their own personal brand.”
HTC can support brands’ engagement with their consumers through thoughtful product development, and dedicated account management, that resonates with the brand and their customers. Our cooperative, partnership centric approach to business empowers us to co-create and invest in our customer’s potential and help them reach their consumers more effectively. In other words, we give them the power so they can give it to their customers.
Whether that’s through our formulations, which are developed to be simple, clean and recognisable to help the consumer in easily selecting the right product for them or in partnering with local manufacturers and ingredient suppliers, whilst utilising our global knowledge and insight. We support our customers, and their brands with extreme flexibility, striving on a daily basis to become ever more sustainable in our approach to the supply chain.
One thing is for sure. 2023 is shaping up to be a powerful year for the industry and we’re looking forward to what we can do together.