Posts Tagged ‘Personal Values’

The Occupy Movement, a harbinger of how consumer sentiment will evolve?

November 11, 2011 5:37 pm by Edith Hornick

In nearly two months, the Occupy Movement protests have captured heaps of global media attention. The movement started in Kuala Lumpur in late summer, quickly followed by New York City (the Occupy Wall Street Movement) and San Francisco. By October, nine Occupy protests had taken place in over 95 cities across 82 countries. Here in London, the protests began in solidarity with the Occupy Wall Street protests in New York. The London Stock Exchange was the initial target but attempts to occupy the Paternoster square where thwarted by the police and the protesters ended up outside St. Paul Cathedral. On my way to work, I frequently walk past St. Paul and past the encampment; I often stop and observe what’s happening as I am fascinated by the activities on the site. The protests have sparked much discussion in our office, as I’m sure they have across the UK.

Aspirations Occupy London MovementMany protesters have put up flyers, posters or flags and one of them has particularly caught my attention. The flag states: ‘Grow The Real Economy: Time, Experience, Wisdom, Knowledge, Learning…’. The text has sparked my interest as I wonder how much these values and aspirations actually resonate with the wider UK population.

What is fascinating is that despite the protesters only representing a minority at the moment, it can be argued that aspects of this slogan chime with wider consumer sentiment in the UK and globally. For instance, according to the latest GfK Roper Reports Worldwide data, almost a third of consumers in the UK prefer more time over money (27%). Not only that, our ValueScope model also identifies Wisdom to be a rapidly growing global value (values being defined as guiding principles in our life). Wisdom is a state of being that involves knowledge, understanding, experience, discretion, and intuitive understanding, along with a capacity to apply these qualities well. In this sense, it is the judicious application of knowledge. People who value Wisdom also value Knowledge and Learning, and they want others to have equal opportunities. And finally, the protesters also call for more experience. On this score, our Trendkey 3.1 product identifies Experience as a key trend for the UK and globally: consumers around the world increasingly identify with what they have done, seen and been to rather than their material possessions and the stuff that surrounds them. They are on the look-out for anything new and exciting and are increasingly seeking out shared experiences with friends and family.

The Occupy Movement certainly isn’t mainstream and its impact currently limited. But as this example shows some of its aspirations are already more widely held (if less vocal), and could be a harbinger of how consumer sentiment will evolve.

A long way from ‘House to Home’

November 4, 2011 4:44 pm by Edith Hornick

When I was a little girl and I was asked to picture myself in the future, I often imagined myself living as an adult in a spacious bright and modern house, the kids playing with the dogs in the big garden and my husband returning from work in a big fancy car. I envisaged this place to be my home, my haven of peace, joy and togetherness. Twenty years on, things haven’t exactly turned out that way. One of the reasons is that I am part of Generation Y, also described by my US colleagues as generation ‘Why Me’. Gen Y is a generation (born 19980-1994) that has come of age in world far different from the idealised future that we and our parents envisioned. Faced with a harsh jobless economy, adulthood things to-do like marriage, babies and house ownership suddenly seem out of reach and are consequently delayed.

There is no doubt that I have been chastened by the collapse of the housing market and recent price hikes in the London area. I have to face the harsh reality that the state of the UK economy has delayed my chance to jump on the property ladder for the unforeseeable future.

Generally, with increasing concerns about inflation, recession and unemployment, housing distress has been the harsh reality for many consumers around the world.  According to GfK Roper Reports® Worldwide, 12% of consumers in the UK have experienced housing distress – loss of home, difficulty paying rent or mortgage, difficulty buying or selling a home. This number even increases to 14% on a global scale. Some markets are affected more than others of course; more than 1 in 5 consumers have experienced housing distress in Argentina, Australia, India, Korea, Mexico and Poland whereas it is less of a problem in Japan for instance.

But why is it so important to own a place called home?

Home ownership is often a key aspiration for many of us and becomes more important the more affluent we become. Our home is the most expensive purchase that we’ll probably make in our lifetime and is therefore quite an emotional investment too. And as the world’s population grows and crowds together further through urbanisation, the desire for a private, secure haven of one’s own will grow more pronounced.  Indeed, in a world of growing uncertainty and instability, the idea of the home as a fortress and protective cocoon will develop and evolve.  And with the economy having forced consumers to stay in more instead of going out, having a place called ‘home’ is increasingly important.

One of the GfK Roper Consulting 12 trends, part of our GfK Roper Consulting TrendKey 3.1 product, looks specifically at this ‘House to Home’ aspiration. 4 out of 5 consumers in the UK agree that they enjoy spending a lot of free time at home and an equal amount of UK consumers agree that their home is a place where they can relax and get away from it all.  In addition to that, we also express a strong desire to entertain guests at home and have fun with friends and families in our own four walls.

But home is not only a haven of peace for many of us, it is also a reflection of our personal values – in the UK 63% of consumers say their home is a reflection of who they are and what they value.  When we look at the housing market in London for instance, it becomes quickly apparent that our personal values can be powerful decision-making elements when picking our next home. Take Camden Town for instance. Camden Town is situated  in Northwest London and well known for its alternative culture. It’s not as upmarket as other regions such as Hampstead or as close to the city as Soho for example but house prices in Camden Town have reached new peaks. Camden Town is very desirable not only because of its great location but also because of its values - the alternative and hip lifestyle, it represents.

It short, consumers aspire to owning a home for various reasons but we all have in common that we all desire a place that we call home, a place with which we have a strong emotional bond. For myself, and despite the current economic situation, I haven’t given up on owning such a place one day. It will be my haven of peace, joy and togetherness, and I am not prepared to make any compromises on this dream, at least not yet.

Feathering the Nest in China

March 22, 2011 10:52 am by DavidCrosbie

An uplift in pigeon fancying says a lot about Chinese consumer trends, says David Crosbie

I had to wonder if my ears were deceiving me one morning the other month, as I woke up to news on BBC Radio’s Today programme that pigeon fancying is gaining in popularity amongst wealthy Chinese, with prize birds being snapped up by Chinese buyers at auctions around the world for what seem to the layman like vast sums of money.

The reason for my surprise is that in the UK, pigeon fancying and racing is viewed as a primarily working class pursuit, once popular among the proletariat in Northern towns. History, however, combined with consumer insights from Roper Reports Worldwide, show that my initial disbelief was unwarranted.

First of all, pigeon breeding has a long history in China, dating back to the Ming dynasty (1368-1644), when they were used as carriers of messages, though the practice was later banned during the Cultural Revolution due to its capitalist overtones.

Secondly, and more insightfully for marketers looking to appeal to the emergent Chinese middle class, this example highlights the willingness of moneyed Chinese consumers to spend lavishly on symbols of wealth and success, preferably those which convey a sense of status and heritage. It is part of a wider phenomenon that includes Chinese interest in the international fine wine market, and their voracious appetite for luxury goods with prestigious brand names.

GfK Roper Consulting tracked and foresaw this development in Chinese consumers using our ValueScope tool, which monitors the Personal Values of consumers in 25 markets worldwide. The behaviour outlined above is entirely in character for those consumers with an Achiever mindset, which accounts for 40% of the Chinese population (vs. global average of 25%). For more details on how to target Achievers in China and elsewhere, as well as to learn what’s next for global consumers, contact us.

American Consumers Lead the World in Environmental Skepticism

October 26, 2010 3:14 pm by TimKenyon

By Tim Kenyon

The United States is one of the more environmentally cynical nations in the world with only 62% of the population believing that environmental pollution is a serious issue according to the findings from the new Green Gauge Global report. This ranks the US 24th out of 25 markets around the world – close to dead last.

The GfK Roper Green Gauge® Global report, which examines the green habits of 36,000 consumers in 25 countries worldwide, found that American consumers are also skeptical about the cost and efficacy of green products and their impact on the environment. Approximately two in three Americans perceive green products to be too costly and one-third believes they don’t work as well as “regular” products.

In the USA, these numbers also represent a dramatic increase from just two years ago.

In the US and around the world, marketers are being challenged by consumers to produce better green products that don’t cost too much.

 

To that end, marketers need to be cognizant of the distinctive perceptions and attitudes about green products in order to convey these products as a smart, pragmatic purchase.

The report also identifies five distinct groups of environmental consumers ranging from the critical, “Jaded” category, who tend to exhibit the least concern about the environment, to the “Green inDeed,” the group of consumers who are not only green in their lifestyles but advocate for others to become environmentally responsible as well.

Between these segments lie the “Carbon Cultured,” consumers who are concerned about the environment, yet their green behaviors tend to lag a bit, as well as the status-seeking “Glamour Greens.” “Green in Need” consumers have the desire, but lack the means to be environmentally responsible.

Our Green Gauge Global report not only discusses the unique elements of each of these population segments, but it also provides actionable strategies for developing green marketing campaigns and tailored customer communications in every region across the globe. Now, more than ever, there is no one-size-fits-all approach to reach those consumers across the globe who embrace green behaviors compared to others who are less passionate about the environment.

As consumer perceptions of green products continue to evolve globally, marketers should keep in mind that not every consumer is out to change the world one purchase at a time. However, by understanding the varying green attitudes and behaviors globally, marketers can more effectively tailor their communications and strategies to reach their target audiences.

Queue Ahead – Plan Ahead

May 12, 2010 12:25 pm by AnnaClark

A reminder that a great purchase doesn’t outweigh a negative purchase experience.

By Anna Clark

It is an oft-spoken cliché that British people love to queue. The author George Mikes, best known for his humorous commentaries on various countries and their citizens, said, “An Englishman, even if he is alone, forms an orderly queue of one.”

The recent UK General Election saw the highest turnouts for 13 years, which resulted in long queues and, in a number of cases, people still queuing by the time the polls closed, meaning they missed out on their vote. One wonders whether people would have patiently queued (in the rain) past the deadline in other countries. That is not to say that there weren’t angry scenes when the truth became apparent, but there weren’t reports of people forcing their way in or worse still, queue-jumping.

I recently found myself musing on this topic when supporting some friends at a battle of the bands contest, where, after the last band finished their set, the crowd of thrashing metallers* formed an orderly queue on the dance floor to place their vote. It seemed an unlikely sight, but perhaps I shouldn’t have been surprised.

When it comes to Personal Values, in the UK, like most other countries, concepts such as ‘power’ and ‘self interest’ rank at the very bottom of the pile, according to the Roper Reports Worldwide study, suggesting consumers just aren’t willing to put their own needs before other peoples’ (or to admit to doing so).

While it’s clear that people will queue, it’s important that companies don’t take advantage of this tendency toward civility. Queuing to vote, or to get tickets for must-see concerts is one thing, but when consumers have a choice of vendors available to them, one with a swift checkout and better customer experience will win through. When a queuing procedure is deemed to be poorly organised or people are left unsure where to queue, this can damage overall satisfaction and reduce chances of a return visit.

And of course, queuing doesn’t stop at the shop door. Numerous horror stories abound about hours spent on hold to speak to people at call centres, while good experiences can encourage loyalty and recommendation. I recently called a customer service line where I was given a choice of hold music to make my wait less frustrating. Small touches like this may not cost much but can be worth a lot. Time spent in a queue is time spent in the care of your brand, and regardless of how good the purchase might be, the overall experience matters, too.

* If you’re unsure who or what a ‘metaller’ is, check out the Urban Dictionary definition!