Havas study explores the hyper-personalized purpose era for brands
Havas has unveiled the latest edition of its annual global Meaningful Brands™ report, charting how rising cynicism among consumers (originally identified in 2021) was shifting to an expanded idea of purpose that was more inward-looking and personal.
The report’s findings demonstrate that while brands’ actions to drive societal progress, inclusion and sustainable behaviors have become more important and expected, people are examining everything through the lens of “me” in the face of more challenging and uncertain times.
Meet the “Me-conomy.” In the “Me-conomy,” brands need to act decisively to drive social change and progress, but they’re also expected to provide everyday joy, support mental well-being, make life easier, offer affordable indulgences and more. And brands’ good works, while expected, are no longer to be lauded as heroism. In today’s “Me-conomy,” consumers want brands to help them lead as participants and activists in driving social change.
For the last fifteen years, Havas has been dedicated to understanding and building Meaningful Brands™. Its annual Meaningful Brands™ report is a landmark study of brand value that interrogates new behaviors, shifting cultural dynamics, and priorities for businesses and brands in a complex world.
This year’s Meaningful Brands™ report surveyed 91,000 people (about the seating capacity of the Los Angeles Memorial Coliseum) across ten global markets (Australia, China, France, Germany, India, Italy, Spain, Mexico, US, UK), along with 1,300 brands across 42 categories.
Key findings influencing the “Me-conomy” highlight new ways people are navigating and experiencing a world rife with change and challenge:
72% are tired of brands pretending they want to help society when they just want to make money.
68% think that the world is going in the wrong direction, at a global level.
1 in 3 people report being personally affected by at least one crisis on an everyday level.
1 in 3 agree that companies/brands should satisfy their individual needs first before taking a wider role in society.
71% of people believe that companies and brands should be doing more to improve and support their health and well-being.
Mark Sinnock, Global Chief Strategy, Data & Innovation Officer, Havas Creative: “The role of Meaningful Brands™ is to explore shifts in people’s lives, attitudes and behaviors, and unpack what that means for brands — but more importantly, how they can be more meaningful in people’s lives. ‘Meaningful Brands™’ at their best win people’s loyalty; they occupy a bigger space in culture and they also set themselves up for long-term growth. They combine purpose with customer centricity to not just grow but ‘grow well,’ giving back to the people and the planet. In many ways the expectations of brands have never been higher. This is what we’ve seen in the rise of the ‘Me-conomy.’ While doing good for people and planet is important, in this challenging time with more people hyper aware of global crises and uncertainty, increasingly a purpose of its own is providing joy, great service, hyper-functionality and elevating day-to-day lives.”
Seema Patel, Global Managing Director, Mx Intelligence, Havas Media Group: “As brand marketers endeavor to create meaningful media experiences for people, Meaningful Brands™ offers deep and actionable insights on this new era of hyper-personalization and people’s evolving brand expectations. Undoubtedly the ‘Me-conomy’ presents opportunity for brands to thrive; but to do so, they must show up differently and reframe the personal, collective and functional value they are creating for people.”
