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The rise of the ‘Me economy’: What can brands do to stay relevant and profitable?
euronews (in English)
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24/06/2024
Consumers are increasingly looking out for themselves, as they navigate cost-of-living crises and other personal challenges, according to global media agency Havas.
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00:00
What I've really been seeing this year is brands that listen and I think that's a really exciting
00:06
space for us to all be in because we've spent a lot of time thinking about how to get consumers
00:11
to be brought into the work that we do but actually now it's really about listening and
00:15
taking our cues from the people that we're trying to relate to and get engaged in our brand.
00:21
So we always talk about making a meaningful difference to brands, businesses and people as
00:26
well and actually over the last 15 years we've commissioned research into what makes a brand
00:31
really meaningful and what we've seen in the data that got released over the last few months is
00:37
that actually there's a big shift back towards a personal lens on everything. We talked about the
00:42
me economy and over the pandemic we saw a real shift towards collective and more societal focus
00:49
but actually now through more challenging times people are really focused back on what a brand
00:53
can do for them personally for their own circumstance and so that's even more important
00:59
to be listening to all of those different data signals and understand it at a really personal
01:05
level not a kind of broad segment level. So we have so many more data signals than ever before now
01:12
we've got shopping behaviour, we've got social behaviour, we've also got everything that the
01:17
brands themselves are starting to collect on understanding their customers in a much deeper way
01:23
and at Havas we're trying to think about how we converge all of that data together
01:27
to get to those really exciting breakthrough insights and more innovative solutions.
01:31
The data and the technology that we now have allows us to do that at scale much more quickly
01:37
and that's why we're really investing in AI partnerships with many different partners globally
01:43
to bring all of that together and be able to like really speed up the process of getting to those
01:49
breakthrough insights.
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