2020 Forecast: Time to Redefine your Audience
Kids Insights, a global leader in kids market intelligence, has issued their 2020 Future Forecast report, which predicts some of the key trends to watch out for this year, and throughout the course of the new decade. The Future Forecast 2020 report explores how these significant transformations will impact advertising, content, licencing, marketing, product and retail strategies for brand owners.
The Kids Insights Future Forecast makes 10 predictions on trends that they believe could occur based on their extensive experience of surveying more than 105,000 children every week, across 3 continents and 7 countries, or more than 2,000 children each week.
Their 2019 report predicted trends such as children’s increased awareness and consciousness of the environment, the pressure on companies to consider their packaging and the rebirth of high streets.
Their 2020 Future Forecast report leads with their prediction that brands, publishers and broadcasters need to reconsider and redefine the term Audience.
Nick Richardson, CEO, Kids Insights explains:
“This generation of children is like no other. They are constantly connected but unlike older audiences, they have an expectation to not just consume content, but they expect to be able to co-create, co-distribute and even co-commercialise content. And whilst gaming companies and social media platforms have been successful in incorporating those strategies, more traditional industries sectors have been slower to recognise and adopt strategies which appeal and resonate with this audience, and this is why we predict we will see more brands look to redefine the term Audience, and the role which their audience has to play”.
The report also highlights how children are more affluent and independent than ever before with technological advances increasingly enabling them to spend both on and offline. Online spending has increased amongst kids (7-12-year olds in the UK alone have increased spending online by 33% since the beginning of 2018), as the share of online activities constantly takes up a bigger share of a child’s daily life.
Some of Kids Insights’ predictions include the booming of Generation Speak, the opportunity for brands to reinvent the unboxing phenomenon, and the next evolution of INXP (In Experience Purchasing).
Jonathan Watson, Chief Product Officer of Kids Insights adds:
“The increased fragmentation of the kids ecosystem, the phenomenal speed of change and with the increased protection that children now have is making it very difficult for brands and to keep up with the next generation of consumers, which is why we do what we do the way we do it. And the quality of our 2019 predictions demonstrate our ability to spot trends early and help organisations develop strategies to grow their businesses”.
To download the complimentary 2020 Kids Insights Future Forecast Report visit www.kidsinsights.com/futureforecast