The rise of the ‘Me economy’: What can brands do to stay relevant and profitable?

euronews (in English)

Consumers are increasingly looking out for themselves, as they navigate cost-of-living crises and other personal challenges, according to global media agency Havas.

Transcript

00:00What I've really been seeing this year is brands that listen and I think that's a really exciting

00:06space for us to all be in because we've spent a lot of time thinking about how to get consumers

00:11to be brought into the work that we do but actually now it's really about listening and

00:15taking our cues from the people that we're trying to relate to and get engaged in our brand.

00:21So we always talk about making a meaningful difference to brands, businesses and people as

00:26well and actually over the last 15 years we've commissioned research into what makes a brand

00:31really meaningful and what we've seen in the data that got released over the last few months is

00:37that actually there's a big shift back towards a personal lens on everything. We talked about the

00:42me economy and over the pandemic we saw a real shift towards collective and more societal focus

00:49but actually now through more challenging times people are really focused back on what a brand

00:53can do for them personally for their own circumstance and so that's even more important

00:59to be listening to all of those different data signals and understand it at a really personal

01:05level not a kind of broad segment level. So we have so many more data signals than ever before now

01:12we've got shopping behaviour, we've got social behaviour, we've also got everything that the

01:17brands themselves are starting to collect on understanding their customers in a much deeper way

01:23and at Havas we're trying to think about how we converge all of that data together

01:27to get to those really exciting breakthrough insights and more innovative solutions.

01:31The data and the technology that we now have allows us to do that at scale much more quickly

01:37and that's why we're really investing in AI partnerships with many different partners globally

01:43to bring all of that together and be able to like really speed up the process of getting to those

01:49breakthrough insights.

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