World’s broadest survey covering 74% of world’s population and 90% of global GDP
Mumbai: Ipsos has unveiled Ipsos Global Trends 2024 for businesses and brands, marking its 10th anniversary – one of the largest public surveys with 50,000 interviews in 50 markets, covering 74% of the world’s population and 90% of the world’s GDP. This broad coverage provides a comprehensive understanding of people’s shifting attitudes and values and how India Inc could capitalise on these opportunities. The India fieldwork was conducted on the Ipsos IndiaBus platform, covering both urban masses (via face-to-face interviews) and digital Indians (via online interviews) to provide a holistic picture of India.
Amit Adarkar, CEO, Ipsos India, sharing the details of the global trends report, said, “For this mammoth survey of 50,000 interviews across 50 countries and analysing of data, Ipsos used the theory of change, using 3 pillars – macro forces is the first one which is around us, demographics being one macro force which shows that the world is ageing; China has increased its retirement age and India too will hit the milestone in this century, and while 7 states have started plateauing, 33% per cent of India’s growth will come from the two states of UP and Bihar. Urbanisation is happening at the fast pace and within the next 10 years it will inch closer to 40%. While these are longterm, marketers and researchers should take cognisance. And the macro force of climate change that is impacting everyone and the new entrant of Gen Ai. The 2nd pillar of Shifts which brings to the fore the cumulative experience of speaking to different stakeholders whether citizens, consumers, gives us rich insights, which has implications on what is happening in the society, in market, categories. And the 3rd pillar of signals, which are what people post on social media, or are fashion and fads, or test of things to come. For instance, many European cities this summer had imposed tax to discourage tourists. Whether due to climate change or xenophobia in Venice. Macro forces, shifts and signals provide a good sense of what is changing. We looked at 50,000 sample, social data and uncovered 23 values which were combined into 9 global trends, which will shape the world. And what each trend means for businesses, brands and categories.”
Adarkar spoke about the Ipsos global trends and how marketers should read them: “Global trend of globalisation fractures shows that, globalisation instead of bringing people together as one large community, shows a lot of fracturing and conflicts. While there are big wars going on, there is this also vs China versus the rest of the world kind of vibe. There are more fissures and fractures within countries, leading to the next trend of splintered societies. Around the time of so many elections around the globe, we see a lot of friction. Social media tends to amplify the good and bad of society adding more fuel to splintering. Marketers talking to splintered societies, the communication could be loved by one set of people, while there would be those who would hate it and people holding a grudge. A lot of brands have faced this situation. The fallout of good-hearted communication being pushed out and this trend will continue. Further, the trend of Conscientious Health shows people getting a lot more conscious about their health. Like global citizens were seen to worry most about mental health, than cancer or cardiac disease. Which was not the case 10 years ago.”
About India, some of the relevant trends were further explained by Adarkar: “ For Indians the trend of escape to individualism was rather interesting. There was a strong need to make things work out for oneself and technology was seen as an enabler and a close ally, especially for elevating one’s status, and the curiosity to learn. More reflected in millennials and gen Z and was seen as a positive trend. Another positive trend emerging was of nouveau nihilism, which meant people wanting to live in the present. With a strong need to enjoy and take care of oneself. Like spending on non-discretionary items beyond the typical, tendency towards premiumization, tendency towards experiencing etc. The worrying trend was a reversal in sensitivity towards climate change among Indians vis-à-vis global citizens. Especially when climate change is impacting everyone. There was this feeling that there was no immediate danger it was something to worry about in the future. And the fourth trend was of retreat to the old system, when life was simpler and there is a strong sense of nostalgia.”
Krishnendu Dutta, Group Service Line Leader, Innovation, Market Strategy and Understanding (MSU) and Strategy3, Ipsos India, shared some of the key findings emerging, “Urban Masses display despair and despondency. Considered the moral backbone of the nation, this cohort shows a deep decline in its pride for the nation. What is alarming is, from being aspirational and hopeful last year, this cohort was seen to be disillusioned, perhaps due to the job losses and high cost of living. Only 55% of urban masses said they were proud of their country, with a -22% dip from last year – explained by the despair around meeting expenses for daily needs and healthcare costs. Notably, nostalgia for simpler, safer and more financially secure future has surged for urban Indians. 65% will like India to be the way it used to be. And 61% would have preferred growing up at the time when their parents were children. Their focus was more on earning and living their lives, seeming a little distant from larger social issues. Interestingly, they were seen to exhibit greater faith in business leaders than in political leadership. There was a growing reliance on the internet, with online shopping providing better deals during financially stressful times. 47% of them not imagining life without the internet and 49% finding better deals in online shopping vis-à-vis traditional stores. Urban Masses find the path to a better life inaccessible, due to the lack of well-paying jobs, affordable education and healthcare and rising cost of living. With business leaders and digital inclusion being the beacons of hope for this cohort, there was a strong need for govt and businesses to approach the urban masses with a great deal of empathy and understanding,” stated Dutta.
“Digital Indians on the other hand show a stability and reinforcement of trends. Digital fatigue and the need to return to a simpler life continued; 40% said they would like India to be the way it used to be, displaying a strong need for nostalgia. 36% were willing to shell out extra for a brand with an image appealing to them. Digital Indians show deepening cultural anxiety and hardening around gender roles. 43% (-5%) believe transgender men and women should be free to live their lives. Showing a dip. And 38% (+5%) believe the main role of women in society is to be good mothers and wives. Women were seen to be facing greater mental pressures, and demonstrating a greater resonance with nostalgia and simplicity – 43% women (+8% vs men) would have preferred growing up at the time when their parents were children; 49% women (+7% vs men) said they need to take care of their mental wellbeing; while 43% (+7% vs men) wished they could slow down the pace of their life. There is a strong need amongst this cohort to spend on brands and experiences that are authentic and reflect one’s identity,” added Dutta.
Urban masses and digital Indians were seen to unite around health. 46% (+4%) of digital Indians would like more control on decisions about their health. 57% urban masses expressed similar views. 45% digital Indians (+7%) and 55% urban Indians said they need to do more to take care of their mental wellbeing.
Dutta explained what implications these trends would mean for businesses and brands: “There are unique opportunities for brands in a highly fragmented market and precise targeting will be important. Premiumizing content for digital Indians, leveraging nostalgia, social impact will be important. While urban masses need to be addressed with simpler, more relatable narratives, escapism and humour.”
“Differentiated products, services, opportunities should be leveraged for both cohorts. For digital Indians, premium, niche and targeted. Mental and wellness products and packages. Food and lifestyle related exclusive destinations and experiences, premium food options, new shopping experiences. More premium and exclusive learning and education opportunities. Urban masses will be driven more by value. Accessible health packages, affordable entertainment options, ecommerce has a great opportunity to fulfil their needs.
Brands should understand the desires and despairs of both cohorts; build greater trust and transparency, greater ethics and fair play. Influencers should be used strategically, enable influencers to establish community dialogues,” said Dutta.
Ben Page, Global CEO, Ipsos highlighted top 3 tensions emerging over the last decade in Ipsos Global Trends. He said, “Tension 01 is that we are more global and introspective – global brands and global culture is more widespread than a decade ago; tension 02, focus on self – rising interest of focusing on the self, almost a retreat; tension 03, environmental – citizens are more concerned about the environment, yet fatalistic. Ipsos global trends, produced by Ipsos will provide insights for decision making – providing a new consensus from tension to intension.”