Accelerating Purchasing Power in Emerging Global Regions – Economic development, trade, political stability, and the availability of credit is driving unprecedented entry and middle-class consumption in emerging global regions. It is purchasing power that extends for the first time beyond the communal basics of food and shelter to goods, services, and experiences that many thought not possible. One size fits fewer is about expanding options and choices, price points.
An Awakening Awareness of More and Options – The pervasive nature of social communications, technology, SEO, and media -- woven into the fabric of daily life – brings to all the immediacy of ideas, options, alternatives, price-points, customization, and co-creation of products and services that can be made available to me.
Access – No longer is consumption (… or knowledge, information, or recommendations) constrained by geography, or locally-available inventory, or cultural norms. “Border free” merchandising yields to an infinite store size with limitless scalability and ever-improving fulfilment cost economics.
Powering-Up of Home-Grown and Regional Brands – As consumer purchasing power increases, so too the skill, capital, technology, and government support for new and resurgent local and regional brands. Leveraging the “pride of buying local” and their knowledge of consumer tastes and nuances, these brands often emulate their global analogs – but at the same time – exploit localized strategic partnerships in manufacturing, distribution, real estate, and finance.
Small is “as Big” as Big – The benefits of scale and size no longer pre-determine outcomes and success. Technology and applications have leveled the playing field … allowing small producers and new ideas to have equal access to consumer’s minds and wallets. Small and new often means agile and unconstrained; while mass, size, and directional momentum drives inflexibilities and legacies. Historic competitive advantages of store footprints, economies of scale, and mainframe technologies no longer protect … but rather constrain.
A Pride in Local Brands – “Made here” has a growing resonance – especially among emerging populations as a contra-influence to mass global brands. This is not to suggest that global brands are out of vogue, but rather that consumers have increasing choices including new and legacy local brands that connect with culture, history, community, and national identity.
The Influence of Social Networks – Our ever-present, always-on digital connections to friends, family, colleagues, causes, community groups, and affinities is a pervasive influence on the products, brands, and lifestyle choices we trial and support. Broadcast/mass marketing has a dramatically-reduced influence as social groups deliver the enhanced benefits of trust, belonging, validation, and decision-making support. One size fits fewer is no longer about brand positioning and messaging … and much more about the influences and recommendations of social connections, social discovery, and social sharing.