The 5 main consumer trends identified by Diageo’s social media study
The trends were identified by Diageo’s ‘Foresight System’, a digital tool developed by the company and its data and insights partners that monitors and tracks global conversations across social media and other web platforms such as YouTube and online forums. It covered conversations in English, Mandarin Chinese and Spanish.
1) Neo-hedonism
What is this? While traditional quests for luxury and excess still have their appeal, consumers are expanding their definition of hedonism: they are seeking new and innovative ways to experience pleasure in their daily lives. Amid inflation and cost of living pressures, they are also re-evaluating how they spend their money to ensure maximum reward.
This is evidenced by the $212 billion global ecotourism market, which is expected to grow 14% between 2023 and 2032. In fact, 60% of millennials and Gen Z prefer to spend money on experiences rather than saving for their retirement.
Why it’s important: This is one of the newest but growing trends as consumers seek meaningful and unique experiences rather than rich gifts.
What does this mean for brands? Brands need to think about how they can deliver an experience to consumers, not just a product. Brands must play the role of “emotionalists” and “sensory architects,” according to Diageo: focusing on creating immersive experiences that resonate with consumers.
On a practical level, this could mean investing in alternative social spaces (such as pop-up events) that are unique and offer an experience to be had as well as a product to be consumed.
2) Marks of improvement
What is this? Consumer conversations show that they are increasingly environmentally conscious, increasingly aware of the environmental and social impact of their choices.
Why it’s important: While not a new phenomenon, its importance cannot be understated, with consumers increasingly (+44%) looking to find ways to align their purchasing decisions with their values .
What does this mean for brands? Consumers are looking to support local businesses and economies. They are also increasingly aware of social disparities and are looking for brands that demonstrate a real commitment to fighting social inequalities. But what’s getting the most discussion is net zero emissions and sustainability (like renewable materials, a sustainable supply chain, and emphasizing nature conservation).
Social media may be about talking: but consumers also want brands to make it easier for them.
“Consumers are actively participating in conversations about improvement brands, but we still find that when it comes to making more sustainable choices, they have other priorities, such as price, availability and experience overall,” notes Diageo. “Brands must work to close this gap by empowering consumers to make sustainable choices, removing physical barriers and making this trend the social norm.”
3) Conscious well-being
What is this: Health has always been important to consumers: but the pandemic has acted as a catalyst to accelerate a societal shift towards a more holistic view of health and well-being. For example, Diageo found over 2.7 million discussions worldwide on self-love (+40%) in its social media searches.
Why is this important? Consumers are embracing self-care, recognizing the importance of not only physical but also emotional and mental health.
What does this mean for brands? This trend presents a great opportunity for non-alcoholic drinks, providing an alternative for people looking to reduce their alcohol consumption; and functional beverages – particularly those with mood-enhancing, adaptogenic and mental well-being properties.
Consumers are also looking for brands that challenge the hustle and bustle of modern life: that encourage a slower pace and disconnect from the hustle and bustle.
4) Expanding Reality
What is this? Technologies such as AI, virtual reality and augmented reality are revolutionizing the way consumers perceive and interact with reality. This ranges from immersive learning experiences to a transformation of digital shopping experiences (online shopping needs to up its game to deliver personalized, immersive, engaging and easy-to-use product showcases).
Why is this important: Conversations around technology increased by 94%, including a 134% increase in discussions about AI-powered relationships – the fastest-growing micro-trend identified in Diageo’s report.
What does this mean for brands? AI can be a practical tool for interacting with consumers. Seedlip, a pioneer in alcohol-free products, for example, created a cocktail concierge that helps consumers learn how to prepare the brand’s cocktails at home.
Elsewhere, brands need to think about how new technologies can interact with consumers. Brands need to venture into the metaverse and embrace advanced virtual spaces and experiences: and Diageo predicts growth in virtual storefronts, interactive events and immersive product showcases.
Also expect to learn more about Web3: a term used to describe the next, improved iteration of the Internet.
5) Collective belonging
What is this? Consumers are increasingly looking for real and virtual spaces that promote unity, acceptance and allow them to interact with like-minded people.
Why is this important: The report revealed 28.7 million mentions of the topic worldwide (+41%), making it the most discussed trend, including a 42% increase in conversations around championing inclusive cultures.
What should brands do? By authentically engaging with social issues, brands can actively give consumers a voice for progress and justice. Brands can take concrete action not only by expressing support for causes, but also by implementing concrete programs.
They must then communicate this to consumers. 53% of consumers aged 27 to 58 will think that a brand is doing nothing – or worse, hiding something – if it does not communicate about its actions to respond to societal issues.
Diageo’s full report, titled “Distilled: A Diageo Foresight Report,” can be viewed here.
Photos from top to bottom: getty/weare; getty/courtneyk; getty/weare; getty/damicuric; getty/weare; getty/sarahmason
