I Will Survive: Permacrisis
The world is undergoing a series of crises, including pandemics, wars, political divisions, natural disasters, and increases in the cost of living, leading to an extended period of instability and insecurity. This has resulted in widespread anxiety and impacted mental health. People are coping with these challenges by resorting to different mechanisms like flight, focus, and resignation, with some seeking alternative options, reducing their sphere of focus, or switching off from their environment. Brands must adapt to these changing attitudes by adopting a life-centric approach and continuing to innovate and build their brand, even during tough times.
This trend originates from the report:
Accenture - Life Trends 2023
Many people feel like the systems that used to support them are failing, causing widespread anxiety and impacting mental health. The cost of living crisis, along with algorithmic angst, has driven people to look for new platforms, but even these sources of news have lost trust among people. People's response to the current instability is a constant switch between fight, flight, focus, and freeze.
The British Association for Counseling and Psychotherapy found that the cost of living crisis is impacting people's mental health, but some are canceling their therapy sessions due to affordability. People in emerging markets have more experience dealing with instability, but it is gnawing away at the sense of safety for people globally. The record-breaking temperatures and rising sea levels are expected to become the norm, leading to widespread displacement.
A survey by Reuters Institute found that trust in news has fallen in almost half of the countries surveyed and that interest in news has fallen from 63% in 2017 to 51% in 2022. People in emerging markets are able to adapt better to instability, which is a fact of life throughout history. Their ability or willingness to adapt generally far outstrips that of people used to living in mature markets, who may need time to adjust.
Companies need to be ready for the impact that people's adaptation to instability will have on their purchasing habits and brand perception..