Five keys to unlocking growth in marketing’s “golden age”

•

284 gostaram•29,209 visualizações

New trends have moved marketing the cusp of a new golden age. To deliver on the promise, marketing needs to execute on the 5S approach: science, simplicity, substance, speed, and story. This presentation walks through what marketers and business leaders need to get right to execute all of them. This presentation is based on a public webinar given by McKinsey partners Jonathan Gordon and Jesko Perrey.

Marketing Negócios

Any use of this material without specific permission of McKinsey & Company is strictly prohibited
McKinsey Insights & Publications webinar | February 20, 2015
Five keys to unlocking growth
in marketing’s “golden age”

McKinsey & Company | 1@McKinsey @McK_MktgSales #McKGrowth
New trends shaping marketing today
Consumer
power
Explosion
of digital
Fragmentation
Always on Personalization
Data, data,
data!
1
0
0
1
1
0
Personalization

McKinsey & Company | 2@McKinsey @McK_MktgSales #McKGrowth
This is the dawn of
a new golden age
of marketing
McKinsey & Company |@McKinsey @McK_MktgSales #McKGrowth 2

McKinsey & Company | 3@McKinsey @McK_MktgSales #McKGrowth
Science
StorySpeed
Simplicity Substance
The 5 S’ of the new golden age

McKinsey & Company | 4@McKinsey @McK_MktgSales #McKGrowth McKinsey & Company |@McKinsey @McK_MktgSales #McKGrowth 4
“The beauty of marketing today is
that we can really show the return.
The data allows us to demonstrate
impact in a much more transparent
way than in the past.”
Lorraine Twohill, Senior VP for Global
Marketing, Google
Science

McKinsey & Company | 5@McKinsey @McK_MktgSales #McKGrowth
Science
Better decisions to
increase impact
$200 billion opportunity

McKinsey & Company | 6@McKinsey @McK_MktgSales #McKGrowth
Science: Better decisions to increase impact
Avg. profit
for promoted
products up
288%
Retail company

McKinsey & Company | 7@McKinsey @McK_MktgSales #McKGrowth
Science: Better decisions to increase impact
International industry player
100,000
price points reset
500 SKUs
1.3 million transactions
Analyticalrendering

McKinsey & Company | 8@McKinsey @McK_MktgSales #McKGrowth
Science: Better decisions to increase impact
vs.
Art Science
Wrong debate

McKinsey & Company | 9@McKinsey @McK_MktgSales #McKGrowth
Science: Better decisions to increase impact
Art Science
Wrong answer

McKinsey & Company | 10@McKinsey @McK_MktgSales #McKGrowth
Art Science Craft
Science: Better decisions to increase impact

McKinsey & Company | 11@McKinsey @McK_MktgSales #McKGrowth McKinsey & Company |@McKinsey @McK_MktgSales #McKGrowth 11
Substance
“Look what [luxury brands] are
doing: they’re building flagship
stores that are beautiful, where
you actually like to just browse
around before you buy. Those
are emotional places.”
Ola Källenius, Board of Management
of Daimler AG

McKinsey & Company | 12@McKinsey @McK_MktgSales #McKGrowth
Substance
Moving beyond
messaging to shape
the substance of
business

McKinsey & Company | 13@McKinsey @McK_MktgSales #McKGrowth
Differentiation
Substance: Shaping substance of business
Products Services Experiences

McKinsey & Company | 14@McKinsey @McK_MktgSales #McKGrowth
Substance: Shaping substance of business
Energy company
Customer
onboarding
7 steps
2 steps

McKinsey & Company | 15@McKinsey @McK_MktgSales #McKGrowth McKinsey & Company |@McKinsey @McK_MktgSales #McKGrowth 15
Story
“It’s not [all data]! … If you fall
down on the art, if you fail on the
messaging and storytelling, all
that those tools will get you are a
lot of bad impressions.”
Lorraine Twohill, Senior VP for Global
Marketing, Google

McKinsey & Company | 16@McKinsey @McK_MktgSales #McKGrowth
Story: Better storytelling for emotional connection
What makes a good
story hasn’t changed.
HOW to tell one has.

McKinsey & Company | 18@McKinsey @McK_MktgSales #McKGrowth McKinsey & Company |@McKinsey @McK_MktgSales #McKGrowth 18
Speed
“Speed comes from decentrali-
zation and creating a local
autonomy to take local action.”
CMO, Consumer goods company

McKinsey & Company | 19@McKinsey @McK_MktgSales #McKGrowth
Speed
A culture of urgency
has placed emphasis
on speed and agility

McKinsey & Company | 20@McKinsey @McK_MktgSales #McKGrowth
Speed: A culture of urgency to keep up with consumers
From To
Batch processing
Command and control
Manual
Slow development
Continuous delivery
Agile
Automated
Real-time test & learn

McKinsey & Company | 21@McKinsey @McK_MktgSales #McKGrowth McKinsey & Company |@McKinsey @McK_MktgSales #McKGrowth 21
Simplicity
“The growing complexity is
unmanageable: in-house vs.
external partners, established
channels vs. new channels. We
need help to get through this jungle.”
CMO, Consumer goods company

McKinsey & Company | 22@McKinsey @McK_MktgSales #McKGrowth
Simplicity: Simplify to execute
Speed and agility
require relentlessly focusing
on simple

McKinsey & Company | 23@McKinsey @McK_MktgSales #McKGrowth
Complexity kills
Expanding
geographic
footprints
Product and
channel
proliferation
Digital and
technology
specializations
Hierarchies,
silos, gaps,
redundancies
Simplicity: Simplify to execute

McKinsey & Company | 25@McKinsey @McK_MktgSales #McKGrowth
The most important questions to ask
Speed
Faster than our competitors or slower?
Simplicity
Simplifying processes or overwhelming with new things?
Story
Making connections or speaking into space?
Substance
Differentiated experience or “me-too” selling?
Science
Today’s insights or yesterday’s facts?

Mais conteúdo relacionado

Mais procurados

Lean Product Management at Silicon Valley Product Camp by Dan Olsen

Dan Olsen

Five keys to marketing's "new golden age"

McKinsey & Company

The Electric Car Tipping Point

Boston Consulting Group

A Playbook for Achieving Product-Market Fit by Dan Olsen at Lean Startup Conf...

Dan Olsen

Lecture 1: Business Model & Customer Development

Stanford University

22 really useful customer retention stats

Customer Thermometer

29 Revenue Model Options for Industrial enterprises (curated by @arnevbalen -...

Board of Innovation

100+ Beautiful Slides from #CannesLions 2016

Jesse Desjardins - @jessedee

Boring to Bold: Presentation Design Ideas for Non-Designers

Michael Gowin

Funding in the time of Corona Virus

Mark Suster

Lean Product Analytics by Dan Olsen

Dan Olsen

Steal this presentation

Scott Hoag

An immersive workshop at General Assembly, SF. I typically teach this workshop at General Assembly, San Francisco. To see a list of my upcoming classes, visit https://generalassemb.ly/instructors/seth-familian/4813 I also teach this workshop as a private lunch-and-learn or half-day immersive session for corporate clients. To learn more about pricing and availability, please contact me at http://familian1.com

Visual Design with Data

Seth Familian

What 33 Successful Entrepreneurs Learned From Failure

ReferralCandy

Mastering the Problem Space to Achieve Product-Market Fit by Dan Olsen at Min...

Dan Olsen

The perfect innovation toolkit for $100 per month

Board of Innovation

A pitch deck template with sample copy to help technology startups sell their business concept to angel investors and VCs. Inspired by pitch deck words of wisdom from Dave McClure (500 Startups), AirBnb, Guy Kawasaki and Venture Hacks (the folks behind AngelList). YOU MIGHT ALSO LIKE THESE PITCH DECK EXAMPLES & TEMPLATES: > Airbnb pitch deck @ https://pitchdeckcoach.com/airbnb-pitch-deck > Sequoia Capital pitch deck template @ https://pitchdeckcoach.com/sequoia-capital-pitch-deck > FREE pitch deck template download @ https://pitchdeckcoach.com/free-pitch-deck-template > Pitch deck guide with hints, tips, and a worked example @ https://pitchdeckcoach.com/pitch-deck-template NEED HELP WITH YOUR PITCH DECK? See how I can help then book a free call @ https://pitchdeckcoach.com/ MORE PITCH DECK RESOURCES @ https://pitchdeckcoach.com/pitch-deck-template#resources

Pitch Deck Template for startups

Malcolm Lewis

According to Juliet (Shakespeare, Romeo and Juliet), a name should mean nothing, but for a startup, it’s a completely different story. Choosing a name for your startup can be one of the most important decisions you make in the beginning, and for a good reason: it is the most impactful choices you’ll take. That’s why it is pretty common, that startups before getting product-market fit change their names a couple times. Unfortunately, not every startup gets enough time and they realize too late that they chose a lame name. But what is in a name?

How To Create An Impacting Startup Name

Tommaso Di Bartolo

Building Invincible Companies With Effective Business Portfolio Management Alex will discuss how you can manage a portfolio of products successfully. How can you invent new business models (explore), improve existing ones (exploit), and manage them all across the organization (manage)? How should you visualize your business model portfolio, in order to be prepared for the future? You will learn how to map the exploration of new business ideas and test them in a simple and practical way. You will learn how to manage and improve the businesses and products you already have, understand how much profit existing business models generate and point out any synergies/conflicts between your models.

Alex Osterwalder (Founder/CEO, Strategyzer) - Building Invincible Companies

Business of Software Conference

The SaaS sector is undergoing a ‘reset’: on the public side, revenue multiples went down from 17x a year ago to 6x today. On the private side, funding is down 42% in Q3 with similar trends observed in the US and Europe. What does this mean for European and Israeli SaaS companies? In this presentation, we will dive deeper into: - How should founders think about their company valuation? - Are public markets overcorrected? - How are the public market dynamics impacting the private funding market? - Will we see a flurry of down round for the 120+ Cloud Unicorns created in Europe and Israel over the past few years? - Which top 100 companies have been selected for the 2022 Accel Euroscape?

2022 Accel Euroscape

Philippe Botteri

Mais procurados (20)

Lean Product Management at Silicon Valley Product Camp by Dan Olsen

Five keys to marketing's "new golden age"

The Electric Car Tipping Point

A Playbook for Achieving Product-Market Fit by Dan Olsen at Lean Startup Conf...

Lecture 1: Business Model & Customer Development

22 really useful customer retention stats

29 Revenue Model Options for Industrial enterprises (curated by @arnevbalen -...

100+ Beautiful Slides from #CannesLions 2016

Boring to Bold: Presentation Design Ideas for Non-Designers

Funding in the time of Corona Virus

Lean Product Analytics by Dan Olsen

Steal this presentation

Visual Design with Data

What 33 Successful Entrepreneurs Learned From Failure

Mastering the Problem Space to Achieve Product-Market Fit by Dan Olsen at Min...

The perfect innovation toolkit for $100 per month

Pitch Deck Template for startups

How To Create An Impacting Startup Name

Alex Osterwalder (Founder/CEO, Strategyzer) - Building Invincible Companies

2022 Accel Euroscape

Destaque

Everything you want to know about sales growth but are afraid to ask

McKinsey on Marketing & Sales

Breakthrough Sales Productivity

McKinsey on Marketing & Sales

Sales 2.0

McKinsey on Marketing & Sales

Sales Growth: Quotes from select interviews

McKinsey on Marketing & Sales

Megatrends for sales organizations

McKinsey on Marketing & Sales

Marketing Performance Infographic

McKinsey on Marketing & Sales

“Haves” and “have-mores”: the accelerating digitization of the US economy

McKinsey on Marketing & Sales

Four megatrends are defining today's and tomorrow's sales landscape: Technology, demographic shifts, economics of experimenting, and the power of the user. This speech by McKinsey's Jennifer Stanley explores the trends, and lays out the five things that sales executives need to do now to adapt. For more on McKinsey's megatrends, be sure to check out: http://www.mckinseyonmarketingandsales.com/megatrends-for-sales-organizations

Megatrends for sales organizations

McKinsey on Marketing & Sales

Big Data and advanced analytics are critical topics for executives today. But many still aren't sure how to turn that promise into value. This presentation provides an overview of 16 examples and use cases that lay out the different ways companies have approached the issue and found value: everything from pricing flexibility to customer preference management to credit risk analysis to fraud protection and discount targeting. For the latest on Big Data & Advanced Analytics: http://mckinseyonmarketingandsales.com/topics/big-data

Big Data and Advanced Analytics

McKinsey on Marketing & Sales

The best companies boost revenues by not just building advanced pricing analytics programs but also developing relevant capabilities - people, processes, tools. A successful revenue growth program is a journey, and this presentation highlights the four areas where companies need to focus to become leaders. Brian Elliott (CEO of McKinsey Periscope) gave a version of this presentation at the Professional Pricing Society event in Oct., 2014.

The Journey to Revenue Growth

McKinsey on Marketing & Sales

Why do companies need to manage the entire customer experience? New analysis reveals that the entire customer journey - the series of interactions with a brand - is more important than any single touchpoint experience. Leading companies identify and effectively manage a few "key journeys." When companies perfect managing the entire customer journey, they reap significant benefits—including enhanced customer and employee satisfaction, reduced customer churn, increased revenue, lower costs, improved organizational collaboration, and competitive advantage. Presented at the Harvard Business Review webinar. For more on customer decision journeys: http://mckinseyonmarketingandsales.com/topics/customer-decision-journey

Transforming Customer Experience: From Moments to Journeys

McKinsey on Marketing & Sales

For companies to be successful today, they have to plan for customer journeys not just customer experiences. In the digital age where engaging with customers across the entire purchase process, the experience with the brand can as important - if not more so - than the product itself. The best companies are aligned on their customer journey strategy, are truly omnichannel, get and keep the right talent, know what their return on marketing investment is, have campaigns tailored to their customers, and are agile. David Edelman made this presentation at the Financial Times Future of Marketing Summit.

It's All About the Customer Journey

McKinsey on Marketing & Sales

How b2b brands talk past their customers

McKinsey on Marketing & Sales

The digital tide is hitting all of us, profoundly transforming our everyday lives, and dramatically transforming the way consumers behave and think about brands. Far from being the harbinger of the end of retail, digital is a big competitive advantage for stores that know how to use it. This presentation was shared by McKinsey partner Nathalie Remy (Paris) at the Women's Wear Daily Apparel and Retail CEO Summit. View McKinsey's top retail content: http://mckinseyonmarketingandsales.com/sector/retail

Are stores out of fashion?

McKinsey on Marketing & Sales

The marketer strikes back

McKinsey on Marketing & Sales

In recent years loyalty programs that reward buyers for sticking with the brand have steadily grown in popularity. Between 2008 and 2012, U.S. loyalty memberships increased by 10 percent per year – reaching over 23 memberships per household. But for all their growth and popularity, do loyalty programs really pay off for the companies that offer them? A recent McKinsey study suggests that on average, they do not – and may in fact destroy value for program owners. For more on loyalty, visit: http://www.mckinseyonmarketingandsales.com/topics/loyalty

Making loyalty pay: How to build - not destroy - value

McKinsey on Marketing & Sales

Women Matter 2012: Making the breakthrough, examines the gender-diversity programs of 235 large European companies. The report investigates what initiatives companies are taking, what is working well or less well, and why. The research found that most companies are now taking gender diversity issues extremely seriously, devoting real resources to redressing the gender imbalance. But many companies also expressed frustration that their efforts do not always create the expected impact.

McKinsey presentation

Constructingeq

Companies that want to turn excellent customer experience into growth need to master Customer Journeys. Customer Journeys (the set of interactions a customer has with a brand to complete a task) and less moments of truth are what matter for a customer. Companies that master not only see an improvement in customer experience, loyalty, and operational productivity; they also see above-market growth.

Customer Journey Analytics and Big Data

McKinsey on Marketing & Sales

For ten years or more, China has been a uniquely powerful engine of the global economy, regularly posting high single-figure or even double-digit annual increases in GDP. More recently, growth has slowed, prompting sharp falls in international commodity prices and casting a shadow over the near-term prospects for developed and emerging markets. What will happen next? Pessimists struggle to see what China can do for an encore after what they say was an extraordinary, one-off period of catching up. Optimists believe that during the next 10 to 15 years, China has the potential to continue to outperform the rest of the world and to take its place as a full-fledged advanced economy (see summary infographic, “What’s next for China?”).

The CEO guide to China's future

McKinsey & Company

Digital globalization: The new era of global flows

McKinsey & Company

Destaque (20)

Everything you want to know about sales growth but are afraid to ask

Breakthrough Sales Productivity

Sales 2.0

Sales Growth: Quotes from select interviews

Megatrends for sales organizations

Marketing Performance Infographic

“Haves” and “have-mores”: the accelerating digitization of the US economy

Megatrends for sales organizations

Big Data and Advanced Analytics

The Journey to Revenue Growth

Transforming Customer Experience: From Moments to Journeys

It's All About the Customer Journey

How b2b brands talk past their customers

Are stores out of fashion?

The marketer strikes back

Making loyalty pay: How to build - not destroy - value

McKinsey presentation

Customer Journey Analytics and Big Data

The CEO guide to China's future

Digital globalization: The new era of global flows

Semelhante a Five keys to unlocking growth in marketing’s “golden age”

McKinsey & Company - NOAH15 Berlin

NOAH Advisors

New Industrial Revolution and Digital Business Models

Robin Teigland

Powering B2B Sales with Digital

McKinsey on Marketing & Sales

Predictive Analytics - Case Study & Trial Results

Steve Susina

LinkedIn Executive Summit in Munich: Digital Transformation @ Scale

LinkedIn D-A-CH

OR135264 (2).pptx

RajeshKumar989524

OR135264 (2).pptx

ankit492326

Webinar: Building a Data-Driven, Customer Focused Business

The world of marketing is undergoing unprecedented transformation. Trends such as Digital Transformation and Innovations including Cloud, Social Media and Big Data and Analytics have redefined the landscape of marketing technology. The Modern Marketer must combine both art and science to meet the constantly changing needs of stakeholders and the marketplace. In this session, we’ll examine the characteristics of a successful Modern Marketer, look at technology as a key enabler to Transformation and Innovation, address best practices for Thought Leadership and storytelling and examine the required skills for Modern Marketing.

Navigating Modern Marketing, Digital Transformation and Innovation

Fred Isbell

2015 q1 McKinsey quarterly - Marketing & sales

Ahmed Al Bilal

When IBM started using Optimizely in late 2015, they were running less than a hundred experiments a year. Fast forward to today and they’re on track to run well over 3,000 a/b tests and personalization campaigns this year. In this webinar you’ll get a behind the scenes look at how the testing Center of Excellence (COE) at IBM empowers one of the world’s largest marketing organizations to achieve digital excellence.

How IBM is Unifying the Customer Journey with Personalization

Optimizely

Beyond Basic Targeting

Etumos

Emerging technologies and how they will impact the business and marketing lan...

McKinsey on Marketing & Sales

Teori Belajar dan.pptx

MuhammadHaikal836998

Integrated Live How to create a successful content marketing strategy in a (l...

Giuseppe Caltabiano

Cmw2014 mfglab mc_duffee_final

Manufacturing Marketing Group

Data & Digital Effectiveness Leaders Masterclass - Manchester 2019

John McCambley

Find out how you can build the brand and generate leads for your business by marketing on LinkedIn. I'll be sharing best practices that both large and medium companies have used to achieve success, as well as tips my own LinkedIn marketing team uses. After the session, you'll be better able to meet your marketing objectives on LinkedIn by understanding: - How to build your company's brand on LinkedIn - How to drive leads on LinkedIn - How large and medium companies are achieving success - How to increase performance with LinkedIn solutions like Sponsored Updates, InMail and Display

Best practices for marketing on LinkedIn

Practices and Behaviours for Transforming Public Servives - Mary Cook

DesignOps Global Conference

Simon McDougall, Regional Leader EEMA, McKinsey – How Should Startups Engage ...

Techsylvania

Semelhante a Five keys to unlocking growth in marketing’s “golden age” (20)

McKinsey & Company - NOAH15 Berlin

New Industrial Revolution and Digital Business Models

Powering B2B Sales with Digital

Predictive Analytics - Case Study & Trial Results

LinkedIn Executive Summit in Munich: Digital Transformation @ Scale

OR135264 (2).pptx

Webinar: Building a Data-Driven, Customer Focused Business

Navigating Modern Marketing, Digital Transformation and Innovation

2015 q1 McKinsey quarterly - Marketing & sales

How IBM is Unifying the Customer Journey with Personalization

Beyond Basic Targeting

Emerging technologies and how they will impact the business and marketing lan...

Teori Belajar dan.pptx

Integrated Live How to create a successful content marketing strategy in a (l...

Cmw2014 mfglab mc_duffee_final

Data & Digital Effectiveness Leaders Masterclass - Manchester 2019

Best practices for marketing on LinkedIn

Practices and Behaviours for Transforming Public Servives - Mary Cook

Simon McDougall, Regional Leader EEMA, McKinsey – How Should Startups Engage ...

Mais de McKinsey on Marketing & Sales

Spanish consumers are pessimistic about the economy. Rising prices, unemployment, and the invasion of Ukraine are top concerns, and consumers are trading down. In Spain, consumers are most concerned about rising prices, unemployment, and the invasion of Ukraine. Their views of the current and future state of the economy remain pessimistic, at a level comparable to attitudes in the early months of the COVID-19 pandemic. Spend for groceries and gasoline soared, while consumers reduced money directed to savings and spent less on non-essentials. Of the 80 percent of consumers who have assumed new shopping behaviors in the last three months in search of value for money, more than half tried private labels. Trade-down in retailers visited and brands is evident, with the key drivers of choice being prices and value for money. However, 39 percent of consumers say they plan to splurge in 2022.

McKinsey European consumer sentiment survey: How current events are shaping S...

McKinsey on Marketing & Sales

UK consumers are pessimistic about the economy. Rising prices and the invasion of Ukraine are top concerns, and consumers are trading down significantly. In the United Kingdom, consumers are most concerned about rising prices and the invasion of Ukraine. Their views of the current and future state of the economy are extremely pessimistic, worse than throughout the entire COVID-19 pandemic. Spend for groceries and gasoline soared, while consumers reduced spend in non-essential categories. Almost two-thirds of consumers have assumed new shopping behaviors in the last four to six weeks, with more than four out of ten trying private label. Trade-down in retailers visited and brands is evident, with the key drivers of choice being prices and value for money.

McKinsey European consumer sentiment survey: How current events are shaping U...

McKinsey on Marketing & Sales

COVID-19 is no longer among Italian consumers’ top concerns. Consumers remain pessimistic about economic recovery and inflation; many aim to reduce their spend. Italian consumers are increasingly worried about the effects of rising prices and the invasion of Ukraine. Unemployment is a number-two concern for respondents in Gen Z, millennials, and the low-income group. Almost six out of ten share a negative view of Italy’s current economic state; hopes for an economic recovery are lower than during the entire COVID-19 pandemic. Consumers observed the highest price increases in groceries and gasoline. To cope with inflation, Italian consumers are changing their purchase behavior, shifting toward discounters and private labels. The leading factors for these choices are prices and value for money.

McKinsey European consumer sentiment survey: How current events are shaping I...

McKinsey on Marketing & Sales

German consumers are pessimistic about the economy. Rising prices and the invasion of Ukraine are top concerns, and we see a significant down-trade in shopping. In Germany, consumers’ top concerns are rising prices and the invasion of Ukraine, followed by climate change and COVID-19. Pessimism about the current and future state of the economy has eased but remains at a level comparable to attitudes in the early months of the COVID-19-pandemic. As spend for groceries and gasoline soared, consumers reduced money directed to savings and spent less on non-essentials. Of the 70 percent of consumers who have assumed new shopping behaviors in the last three months, more than four out of ten tried private labels. Trade-down in stores visited and brands is clearly visible, with the key drivers of choice being prices and value for money. However, 46 percent of consumers say they plan to splurge in 2022.

McKinsey European consumer sentiment survey: How current events are shaping G...

McKinsey on Marketing & Sales

For consumers in France, inflation eclipses other sources of concern. It triggers changes in shopping behaviors as consumers seek better value for money. French consumers’ optimism regarding the economic recovery is stable at around 14 percent—a level last seen in the depths of COVID-19 lockdowns. Top sources of concern are rising prices (cited by 54 percent), followed by the invasion of Ukraine (13 percent) and climate change (10 percent) and far ahead of COVID-19 (4 percent). Nine out of ten survey respondents perceive high price inflation in the country. These trends have implications for brand and retailer loyalty: of the 73 percent of respondents saying they have tried new shopping behaviors in the last three months, 40 percent say they purchased private labels. Household products remain the category most affected by this trading-down trend.

McKinsey European consumer sentiment survey: How current events are shaping F...

McKinsey on Marketing & Sales

Japanese consumers’ behaviors and finances are gradually recovering to normal, though their responses indicate a slight increase in pessimism. The long-lasting impact of COVID-19 is prolonging Japanese consumers’ intent to stay conservative about spending across categories. In a further sign of cautiousness, the trend of shrinking pessimism over the past few years reversed for the first time. Meanwhile, people’s demand for travel is rising, considering the next seasonal vacations.

McKinsey Survey: Japanese consumer sentiment during the coronavirus crisis

McKinsey on Marketing & Sales

Australian consumers, in view of the omicron variant, are feeling less optimistic about economic recovery than last year and remain cautious on spending. In Australia, optimism about economic recovery has declined since the November 2020 pulse survey but remains higher than at the onset of the COVID-19 pandemic. Six in ten consumers predict routines will return to normal only after June 2022; two-thirds do not plan to splurge in 2022. Although Australian households increased their spending in the past month, net intent to spend remains negative. Digital and omnichannel adoption continues in most categories, and intent to use out-of-home services rose. Seventy-five percent of consumers have addressed the rise of omicron by changing how they engage in out-of-home activities. Most consumers have tried a different brand or retailer, especially to switch brands in pursuit of value.

McKinsey Survey: Australian consumer sentiment during the coronavirus crisis

McKinsey on Marketing & Sales

Indian consumers’ optimism has remained high since October 2021 and has reached the highest levels across other Asian markets since COVID-19 started. Nearly three-quarters of India’s consumers are optimistic about economic recovery, and net intent to spend is growing and positive across many categories. Omnichannel usage continues across the majority of categories, and social-media influence is high, especially for Gen Z and millennials. More than 90 percent are engaging in social media and entertainment platforms. There is an upward trend for new technology, such as crypto and augmented reality/virtual reality, and consumers intend to continue digital activities as the COVID-19 crisis subsides. About 40 percent of consumers are engaging in out-of-home activities, especially among the vaccinated segment. Most consumers have tried new shopping behaviors such as new retail outlets and new brands.

McKinsey Survey: Indian consumer sentiment during the coronavirus crisis

McKinsey on Marketing & Sales

Indonesian consumers remain optimistic on the economy, expecting higher incomes and spending. Many tried and plan to keep using digital services and omnichannel methods. In Indonesia, optimism about future economic conditions increased more than 25 percent over September 2020 from an already high base, boosted by planning for the upcoming holiday season. Eight out of ten consumers say they will dine out, shop for gifts, and redecorate. Out-of-home activities are generally rising but remain far below prepandemic levels. Optimism about the economy is tempered by views of household finances; half predict finances won’t return to normal before June. The loyalty shake-up continues, with 60 percent citing value as their primary reason to try a new brand. New digital behaviors are starting to show evidence of stickiness: 60 percent say they intend to use new shopping methods when the pandemic subsides.

McKinsey: Survey: Indonesian consumer sentiment during the coronavirus crisis

McKinsey on Marketing & Sales

Most Korean consumers expect that normalcy will return to routines only after June 2022, yet there are signs of pre-COVID-19 routines returning. Korean customers have been less optimistic than those in other countries about the economic recovery. But optimism in Korea is much higher now than two years ago. Half of consumers indicate a desire to splurge, with intent to do so being the strongest in Gen Z and millennials. One-eighth of consumers say they have returned to out-of-home activities.

McKinsey Survey: Korean consumer sentiment during the coronavirus crisis

McKinsey on Marketing & Sales

As inflation rises, French consumer hopes for economic recovery wane, with optimism sinking back to the lows of lockdown. Optimism regarding the economic recovery has decreased to 14 percent in France—levels last seen in the depths of COVID-19 lockdown. Top sources of concern are rising prices, the invasion of Ukraine, and political uncertainty. Nine out of ten survey respondents perceive high price inflation in the country, and 60 percent expect prices to rise further over the next year. These trends have implications for loyalty: in the search for higher purchasing power, 69 percent of respondents have tried new shopping behaviors in the last four to six weeks. Household products remain the most impacted category, with 65 percent of consumers switching for cheaper options.

McKinsey European consumer sentiment survey: How current events are shaping F...

McKinsey on Marketing & Sales

Pessimism about recovery is at an all-time high in the United Kingdom. Rising prices are the top concern, with consumers significantly trading down in stores and products. UK consumers are feeling great economic uncertainty. With energy and transport costs eating away at consumer savings and non-food spend, the top reasons given by survey participants for economic anxiety are the gas supply, supply-chain shortages, and energy issues. Consumers report the highest perceived price increases in groceries and household supplies, with two-thirds becoming more conscious about energy usage. Half of consumers changed their grocery brands in the last four to six weeks, with trading down a clear trend: price and value were the strongest drivers here.

McKinsey European consumer sentiment survey: How current events are shaping U...

McKinsey on Marketing & Sales

Rising prices and the Ukraine invasion are top concerns for German consumers, fueling a general slide into economic pessimism. German consumers are experiencing intense unease regarding the state of the economy and its future outlook—with public sentiment sinking lower than at any time during the COVID-19 pandemic. Survey participants felt the greatest concern about rising prices and the invasion of Ukraine. Spend on groceries and gasoline has soared, even as consumers cut spending in non-essential categories. Almost two-thirds have assumed new shopping behaviors in the last four to six weeks, with more than forty percent trying private-label brands. There’s a clear trade-down trend in stores visited and brands chosen, with prices and value for money as key drivers.

McKinsey European consumer sentiment survey: How current events are shaping G...

McKinsey on Marketing & Sales

Across the continent, the pattern holds: Europeans are anxious about the state of their countries’ economies, and worried about the future. Russia’s invasion of Ukraine and price inflation overshadow other concerns, and consumer anxieties in turn are impacting confidence in household finances and national economies, especially among vulnerable populations. Worried about spending more on food, transport and fuel, consumers report cutting back on less essential items. Most say they’ve changed their shopping behaviors in recent months, trading down to more affordable brands and retailers. With no relief clearly in sight, 2022 continues to prove a challenging year for the continental consumer.

McKinsey European consumer sentiment survey: How current events in Europe are...

McKinsey on Marketing & Sales

Spanish consumers are primarily concerned about inflation and the invasion of Ukraine, and are becoming increasingly pessimistic about the economy. Only 14 percent of Spanish consumers are optimistic about economic recovery, with concerns focused on inflation and the invasion of Ukraine. Four in ten have an increasingly negative sense of the economic outlook—mostly due to petrol and supply-chain shortages, as well as unemployment. Price-increase Perceptions of price increases are particularly high regarding groceries (at 95 percent) and other household products. In these categories, more than half of respondents have reacted to inflation by trying less costly brands. Over the last six weeks, half have tried a private-label brand, 30 percent have switched brands, and a quarter have tried out a different retailer.

McKinsey European consumer sentiment survey: How current events are shaping S...

McKinsey on Marketing & Sales

Italian consumers are increasingly pessimistic about the economy, with many aiming to reduce spending and modify consumption habits. Italian consumers are increasingly worried about the effects of rising prices, as well as the invasion of Ukraine. Of Italians surveyed, six in ten expressed a negative view of the current economy; hopes for an economic recovery are lower than they were throughout the entire COVID-19 pandemic. Consumers perceived the highest price increases in groceries and fuel, along with strong increase in spend. These sentiments have translated into reduced consumption. Changed consumer behavior is also apparent, with a shift towards discounters and private-label brands. Price, value for money and availability are the biggest drivers of these choices.

McKinsey European consumer sentiment survey: How current events are shaping I...

McKinsey on Marketing & Sales

McKinsey survey: European consumer sentiment survey: How current events are s...

McKinsey on Marketing & Sales

McKinsey survey: European consumer sentiment survey: How current events are s...

McKinsey on Marketing & Sales

McKinsey survey: European consumer sentiment survey: How current events are s...

McKinsey on Marketing & Sales

McKinsey survey: European consumer sentiment survey: How current events are s...

McKinsey on Marketing & Sales

Mais de McKinsey on Marketing & Sales (20)