Tag: Tote of Personal Finances

  • What’s ‘Said’ Scratches the Surface of What’s ‘Experienced’

     

     

    The second in our 10-part series where Shaziya Khan focuses on the allyship of brands for financial savviness of women and girls. Link to the first part: Is there a Burden of Hidden Emotions Women carry in it?

     

    Shaziya KhanBy Shaziya Khan

    Women are known to be prudent shoppers and savers. Yet, women need to become more savvy in personal finance. This is a key and progressive attitude shift among, both, men and women.

     

    Several women, confess to being uncomfortable about taking decisions in financial matters (seeking validation, often procrastinating etc.). Also, women feel emotionally vulnerable taking financial decisions in a life context of dependency (spouse, father, brother), social “rules” and roles, subtle conditioning favoring a persona that “knows little about such matters”. These ‘silent yet significant’ barriers, lurk deep, generationally and must be surfaced and reassuringly addressed. Thereby, enabling financial savviness of women and girls as a happy ‘normal’ in the present and future. Guided by the truth that the spoken word is different from the lived experience, we looked far below the surface of what is merely ‘said’.

     

    GNAWING FINANCIAL WORRY EXPERIENCED SILENTLY. Women experience a gnawing threat and worry related to “their safety net”. Research reveals that one of the biggest advocates for purchasing general insurance, is the woman of the house, albeit with a deeply subdued voice. Wives and mothers instinctively, quickly, silently understand that “if anything were to happen”, it would sadly, blow a big hole in the family’s savings. They especially worry about the adverse impact on children’s education and future, etc. Yet, despite this threat perception being experienced deeply, they rarely voice it. Why?

    There are ‘obvious’ restrictions to voicing a ‘bad omen’, even if one is speaking practically or thoughtfully, with ‘good intention’. Due to the ‘bad omen’ factor and related manifestations of it, women barely voice their financial inclinations. This could be with regard to banking, investing, insurance, earning etc. Thus, out of fright, superstition, “not speaking out of turn”, “being a nag”, “having a black tongue” etc. women learn to live with their gnawing financial worries. Unable to voice their inclination towards purchasing relevant financial instruments. Unable to actively ‘solve for’ financial needs, protective financial measures, in good time.

     

    SOFT SKILLS MASK THE INTENSITY OF THE FINANCIAL NEED OR DESIRE. Women know, there is an art and science of successfully navigating any financial discussion. Personal finance, being a sensitive topic, and theirs being a layered authority, it needs careful ‘handling’. For instance, even blurting out a spontaneous practical suggestion, takes practice. At other times, they learn, or are taught, silence is golden. Many women “have to” master diplomacy, timing and discretion to adroitly discuss a financial matter at home. Mustering courage, faultless logic, impeccable timing and pitch perfect tone of voice are intangible and tangible ‘notes of harmony’ that women orchestrate. These soft skilled expressions, others like them, are common. “I’ll try and cajole over a few days”, “after meals is best time to discuss it”, “so and so, was suggesting”.

    Women admit to picking their battles carefully, wisely, especially financial ones. They fear that if a stray remark is seen by their spouse, elders, ‘authority figures’ of the family, to be strident or ill timed, several of their future financial needs and wishes might never see light of day. Or be denied for a long time.

     

    LACK OF ASSERTION OF FINANCIAL AUTHORITY. Many women admit that even when their financial rights exist, they feel, or are made to feel awkward, uncomfortable or guilty, when asserting them. Anecdotally there is much, varied evidence pointing to this lack of assertion. Seeking “permission” to assert what is financially due. Forgoing some part of their financial rights, is ‘taken for granted’. Being the last in the queue to get their financial due is “accepted”. Withdrawal of other familial support, if she claims her financial rights, is familiar to many middle-class women.

    This could be partly due to early subtle conditioning, across several aspects. To take just one aspect, several parents mention observing, early on, differing behavior related to gifts. The girl child is passive or vague about what she wants as a gift, versus, a boy child assertively negotiates a gift in return for “x”. Years later, this gets cemented as a ‘pattern’. Women passively “let go” of personal financial matters, preferring vagueness over ‘details’. They candidly admit to being carefree, haphazard, even “lost”, about ‘their own’ finances! Some learn a ‘hard lesson’, better their ways.

     

    ALLIES MUST EMPATHISE WITH THE EXPERIENCE BEHIND THE WORDS. We are learning, that alongside the rational budgeting and saving skills, women have an emotional (roller coaster) experience of personal finances. They live silently, or with hushed words, or muted expressions, with this experience. With gnawing financial worry, a marshalling of soft skills to mask intensity of financial needs, desires and ‘letting go’ rather than asserting financial authority. Words seem to scratch the surface of these deeply felt and lived daily “normal” experience. Brands, keen on allyship with women, must empathize with their lived experience, behind the words.

    To ally with a woman on her onward journey of financial savviness – let her know you ‘get’ her experience. Let that inspire innovation, communication, inclusivity to enable her financial savviness. You might hear just a muted phrase or see just a passive nod, trust me, her heart is probably jumping with joy, hope. It is just that her words don’t capture that. Yet.

     

    Shaziya Khan is National Planning Director, Wunderman Thompson. She has won the Jay Chiat Grand Prix  for Strategy and Three WPP Atticus Global Awards for ‘Original Thinking in Marketing Communication’. Her views here are personal.

     

  • Tote of Personal Finance: Is there a Burden of Hidden Emotions Women carry in it?

     

    By Shaziya Khan

     

    Shaziya KhanFor many women, a lingering, pervasive discomfort about personal finance exists, despite growing finances. Women confess to feeling uncomfortable about taking personal financial decisions. Women also feel the need for permission or validation from significant others (spouse, parent, brother etc) in matters of personal finance. For some, despite taking many financial decisions, at work, they are still uncomfortable about personal finances.

     

    It matters to understand why women are uncomfortable about personal finance. Why? In modern times, both men and women believe, it is important for women and girls to be financially savvy. This is a key attitude shift of our times. Encouraging an all-out pursuit of financial savviness is a key area of allyship for brands related to women’s progress.

     

    How can brands provide allyship to enable women and girls in this area of growing importance? This is an important question for brands in financial categories – banking, insurance, investing, saving. Also, a relevant question for brands in other categories, as financial aspects impact most purchases.

     

    A starting point, is what is already well-known about women’s financial experiences

    It is known that most women try to have a small financial cushion.  They literally, and figuratively, stuff it, every opportunity they get. Quietly, prudently, cautiously, providing for a little more. This could be via  the ingrained ‘small saving’ experiences, home budgeting skills and a growing influence on big ticket purchases.  Yet, attitude shifts and indeed lifestyle expectations, demand a lot more than a small financial cushion! In effect, it is about “bigger, better financial cushions wanted!” for women and girls.

     

    Synthesise the Well-Known with the Well-Hidden

    Guided by the truth that people hide their true emotions, it is key to ‘read’ the well-hidden factors alongside the well-known factors. There could be ‘well -hidden’ emotions women experience related to personal finances. These are not revealed via conventional research.  Rather they are revealed, whilst unpeeling the women’s life context, learning from experts within that life context, adjacent to it or in some way intimately related to women’s lives as well their ‘financialscape’.  Stepping outside the functional lens of category creation, to empathize with the emotive lens of category creation, is vital. I call it, synthesising the ‘well-known’ with the ‘well-hidden’.

     

    This perspective helps unlock priorities for allyship.  Sheds light on ‘what is going on, silently’ and how practically, brands can provide allyship. In short, looking at women’s (halting, tentative, uncomfortable) journey towards financial savviness, within the context of their life journey, is revelatory.

     

    Life context cannot be ignored. Women navigate personal finances in the broader context of navigating their everyday life. Women’s life context – the relationships, social norms, psychological frameworks, individual versus collective aspects, all impact their financial choices, or lack of them. Each life context is influentially and sensitively related to personal financial matters. A bit like the proverbial pea hidden underneath the soft mattress – causing a sleepless night for a sensitive person.

     

    A ‘Well-Hidden’ Emotional Vulnerability

    We unearthed a ‘well-hidden’ emotional vulnerability, that holds women back from becoming more financially savvy, even when they wish too. This emotional vulnerability is a triangulation ‘compromises’, ‘rules’, ‘understanding’ operating silently yet strongly in women’s life context. There is a combination of dependency, role expectations and perceived personas that women “have to” usually abide by.

     

    Firstly, by mid-life, many women are financially dependent. Having ‘given up’ financial independence when younger (by necessity, choice, whim. They are then, compelled, to make compromises in personal finances, in mid-life. Secondly, women internalise social, cultural and family ‘rules’ on financial matters. Their ‘role and rule-based’ involvement is restricted mainly to home and lifestyle finances. Thirdly, stepping beyond a certain ‘boundary’ of financial savviness, women carry a psychological risk. That of possessing a negatively perceived persona, in the eyes of significant others, as too ‘money minded’ for their own good.

     

    Need for Allyship

    Hidden emotions are a double weight that women carry. Not only does the vulnerability of their life context, weigh heavily on them, the fact that it cannot expressed nor resolved, makes it ‘heavier’. The emotional vulnerability related to personal finances often cannot be discussed, in a context of dependence, role expectations and conditioned personas. It crystallises, helplessly, as “What choice do I have” or “what choice does she have”. These phrases surface frequently. Providing proof of both the vulnerability being experienced, and also, alas, its acceptance. Allyship, from brands, is much needed to lift the lid off hidden emotional vulnerability and then provide practical choices to help discuss and resolve it. Here are some thought starters

     

    Dependency is a key context. Experts like psychologists, life coaches and marriage counsellors shed light on women’s personal finances journey, its impact in the context of her life relationships and dependency.

     

    Many women entertain a certain ambiguity, or a casual attitude about personal finances. This can end up becoming a fault line in long term relationships. Sadly, even among the educated, working married couples. Resulting in emotional inequality, lack of sensitivity, shrinking of choice. Typically, young women ‘give up’ financial independence.  They realise, many years later, how vulnerable they have personally become. Subject to threats, social posturing, forced masking of growing distance, compromised life choices. Women ‘live with it’, as they literally cannot afford not to! A role for allyship is bring out the importance of financial independence in a woman’s life, early on, and practical avenues for sustaining it.

     

    A role for strategic development is understanding and milestones of the lifetime value of financial independence, the zones of ambiguity, the zones of certainty, for women.

     

    Unspoken ‘rules’ are a key context, too.  Life contexts have silent influence, on women’s personal finances, via family ‘norms’. The “unspoken rules” silently dictate where a woman can and cannot have a say.  Where she can and cannot take a “stand”. The “unspoken rules” exist in nuclear families, extended families, middle-class & upper-class families.

     

    These “norms” are imbibed early, “understood” and adhered to, by all involved. A ‘need to know’, ‘be happy with you’ve got’ frame governs the family’s financial ‘equation’ with women folk. Women’s indulgences are financed (jewellery, vacations, home, personal makeovers, entertainment, socialising) yet, in doing so, a ‘boundary’ is also set. There are generally few questions asked, or entertained, on personal financial matters beyond the above. A role for allyship is create new women centric personal finance ‘rules’ and help them gain acceptance among both men and women. A role for strategic development is unearth the financial “rules” and “borders”, help women better navigate them, eventually redraw them.

     

    Subtle conditioning is another key context. Another subtle life context relates to verbal and non-verbal cues about womanly personas. Oft heard remarks, glances, grimaces, nick names, informal network exchanges, excluding and including behaviour on who is ‘in’ and ‘out’ are types of subtle conditioning. These can associate a woman who is less involved in money matters, as a “good (naïve, harmless) woman”. Coy comments unwittingly cue this type of ingrained conditioning e.g. “I know nothing about finance”, “I have hardly ever gone to the bank”, “I can’t recall when I last signed a cheque”, “I am so unfamiliar with an ATM”, “My brother/husband/father knows every time I use my card”. Such remarks are associated with a certain type of womanly persona – likeable, comforting, trusted, reliable, safe. Thus, lack of interest, or knowledge in financial matters is endearingly ‘acceptable’. It is subtly encouraged.

     

    In contrast, a woman who asks for details on finances, or has questions – about bank accounts, single versus joint cheque books, her own ATM card, seeking professional financial advice etc., is regarded warily. In some cases, even negatively referred to e.g. “money minded”, gold digger, climber, “shrewd (calculating) type”. Thus, interest in and knowledge of financial matters are subtly discouraged. A role for allyship is to help to positively reframe the perceptions and personas of financially savvy women. A role for strategic development is to uncover the negative myths, associations and fears perceived with women being savvy; uncover positive role models, behaviour, values, rituals associated with women being savvy.

     

    Ease the Burden of Hidden Emotions

    The hidden emotional vulnerability women experience, due to life contexts, must be assuaged, to the extent possible. This will help to ease and accelerate the journey toward functional savviness. Infusing clarity, where casualness and ambiguity abound. Inviting refreshing, empowering ‘rules’ in families. Reshaping the naïve versus shrewd stereotypical personas. These are starting points for building allyship with women. Emotional lightness makes room for functional savviness. When you see a woman striding confidently with her tote, ask if she is truly feeling emotionally lighter about being more actively involved in matter of personal finances. If she is feeling lighter, it is likely, she will become savvier, too. And sooner, than later, one hopes.

     

    Shaziya Khan is National Planning Director, Wunderman Thompson. She has won the Jay Chiat Grand Prix  for Strategy and Three WPP Atticus Global Awards for ‘Original Thinking in Marketing Communication’. Her views here are personal.

     

  • Hello, New Urban Consumer with a Hermit Mindset… Frugal, Contemporary, Creative

     

    By Shaziya Khan

     

    It is an introspective time of the year. Added to which are exhaustive charts, healthy discussions and sceptical eyebrows. Many are seeking a cloudless clarity. Above the blinding glare of information overload. Or worse, the opaque fog of misinformation. All to do with the new urban consumer. What has changed for now? What seems to have changed mainly due to the lockdown (unconscious bias – recent effect)? What has changed for the longer term?

     

    Recap of data highlights: The Wunderman Thompson and Kantar reports highlight key consumer shifts and trends which are briefly recapped here. Shift to savings, loss of personal space, security and convenience paramount, health at the forefront, digital to the rescue, media rejigged. Reskilling, back to home life as epicentre. Philanthropic brands wanted. Accelerating the purpose agenda of brands, in practical ways.

     

    New value system: Accelerating the drive toward more inclusive heroes, meaning, sustainability, nature. Future of communication: there is an acceleration of the need for checks and balances of evolved communication modes. Every business is a health business in terms of whether it informs or misinforms. Connected communities: rebuilding community and connection is a top priority. Nurturing the tribe is an accelerating trend.

     

    Health’s next frontier: Healing anxiety and well-being of the digital self – existing trends, that have intensified, given the need gap in investing proactively in health.

     

    New retail models: not only is there more contact less shopping and handsfree payment. There is also a fast tracking of initiatives like virtual services and live streaming, based on consumer journey and experience.

     

    Stitching a quilt: With hard numerical data and ephemeral qualitative texture, patch by patch, here’s a handwoven quilt on the new urban consumer. Like a patchwork quilt, this understanding is stitched with the hope of connecting past, present and future. And above all, to help the new urban consumer be treated with warmth, comfort and empathy. A patchwork quilt of understanding is not only for a new consumer but also for one living in a far from normal context. A context that has euphemistically been called the new normal, or next normal, or better normal.

     

    This is simply the examined normal – a “reading” of the lived experience of urban consumers. Their mindset. A short take on a very large topic in a very new context. The examined normal – new/next/better, normal or otherwise. What does this examined reality reveal?

     

    Emerging hermit mindset: It yields an emerging chrysalis portrait of a kind of contemporary hermit, frugal to an extreme. Digitally savvy, by necessity. A personal growth enthusiast, even an explorer, not at the level of mastery, nor competence, yet. Frugal at many levels. Urban consumers have lived frugally for an extended period of time. Spartan food, simple clothing, sore isolation, repetitive, harsh schedules, uncertain work, education, future, several blurring “lines”.

     

    A kind of life, perhaps, only ever experienced somewhat, at retreats or camps. That too, for a few days only. And voluntarily, by a niche group, that was into “this sort of thing”. This is utterly different from the urban consumer life context (not short, voluntary, niche).

     

    Nevertheless, it could be illustrative to recap what brushes with “capsule frugality” are, to shed light on the new experience of extended frugality.

     

    Capsule frugality recalled. Capsule frugality, voluntarily embraced, evoked positive feedback. Nirvana is a booking away (“you should try it”). The waiting lists are long. Despite the agenda being very tough (repeat, very tough) love. Including regimented schedules, bland food, cold baths, demanding exercises, isolation, minimal conversation. These are seen to yield the benefit of detoxification, bliss, escape, even release.

     

    Extended frugality, examined. Significantly the lockdown lived experience was not mindful. In fact, mind numbing is a better description. Yet, after the extended dismay, discomfort, resignation, a new emotion is being expressed. Out of the depths of extended frugality of the daily life, strikes the rubber slippers epiphany. It goes simply as: It is okay. Surprisingly, I am okay, you are okay.

     

    Rubber slippers epiphany: “Been wearing rubber slippers, 12 hours a day, for months, and you know what, it is okay”. Acceptance.

     

    Even a kind of liberation. The relief of survival with so little. The triumph of knowing hell we could, so now we know, we can. A struggle with disruptive frugality, at many levels, has given the urban “indulgent class” a glimpse of mettle lurking beneath the surface of shiny aspirations. A private gemstone rich mine of raw instinct. And it evidently feels rejuvenating, despite the steep and stoic efforts involved in ‘mining’ these instincts.

     

    WT research reveals that developing market consumers view change as eventually leading to betterment. Frugality, not just financial. The extended daily lived experience of frugality yields many, many (unasked for) lessons for surviving, thriving, changing, adopting, adapting, shedding, decluttering, exhuming, sacrificing, missing, dropping, coping, creating, shutting, cancelling, learning. (For instance, a much loved corporate cartoon talks of the immense transformation in companies, wielded not by the wand of the “chief transformation officer”, but due mainly to the disruption of remote working)

     

    In effect, frugality, which at first glance seems a hard word, is actually an interesting word. It has interesting associations like moderation, less waste, temperance, simple, mindful, thoughtful. Many, resonating qualities of our times. In shifting scenarios, a steady mindset. As scenarios evolve, expectedly, many of the creature comforts may sweep back in. To the extent affordable and desirable.

     

    However, the hermit mindset, it appears, has dug in, for a longer term. Even toward embracing simple living and high thinking, in degrees. Degrees may vary, but “hermits in the mind” are likely to be or do these. Hermit mindset takes ‘tough love’ calls. Be able to take tough decisions faster, due to less attachment and more acceptance of uncertainty. Several pending, sitting on the fence, long gestation periods of consideration kind of decisions, will find the button pressed. What doesn’t kill you, makes you stronger is the decision making mettle in the making (washing machines debated for five years, got installed in five weeks, hobbies on the back burner were officially launched as commercial home-preneur brands, relationship bridges long overdue, over troubled waters, got built).

     

    Hermit mindset marches to inner rhythm more. Be less outwardly motivated, be more inwardly mindful and particular in prioritising what truly matters. Having managed much, whilst “making do” with little, has been a kind of maturing. “Autumn is about the beauty of letting go”. Aspects outgrown out of deep necessity have been ‘let go’. Authenticity and transparency are not just the desirable mantras, they are live – being broadcast in real time.

     

    (Less conscious of manicured “appearances”, more relaxed about one’s private self being shared – messy hair, unshaven faces, informal or casual dressing, help sought openly, advice taken professionally, simple menus, vernacular and voice communication, desire for more expression and less suppression , comfort zone friends or family over “IT” acquaintances/ influentials and “zoom fatigue”, pursuit of learning, upskilling, new creative endeavours). Hermit mindset uses a fine toothed comb of value for sorting & sifting priorities. There appears a wholesome embrace of not just value, but value-consciousness-to-an-extreme.

     

    Born of the head: financial necessity, anxiety and generally trying times. Born of the heart, too: further, reverence and fresh appreciation, deeply heart felt, of modesty, temperance and efficiency in nearly all matters of consumption. (Recycling of items, utilising ignored kitchen goods like casseroles, skillets, old clothes and furnishings, utterly “locking down” on previously eagerly anticipated purchases, like branded sales, selling items to the kabadi to declutter one’s own home and to help keep others home fires burning, searching and waiting patiently for best deals, pack sizes, combinations, bulk buys, best times for purchase, on a steep curve digitally – accelerating knowledge, access, engagement, commerce).

     

    Especially with regard to digital interface, what matters most are simplicity, speed more than engagement or relationships is “brand respects us” via apt, timely, relevant value. A hermit mindset leans into preciousness of trusted vintage. A broad love for the enduring, both for the utility it provides, as well as of the emotional meanings it signifies, is sweeping upon the new urban consumers. There is an abiding sense of reconnecting with rootedness, including our own roots, indeed whatever gives the daily life it’s rootedness. In turbulent currents, strong anchors, help steady the boat.

     

    What started off as “making do” has turned a page, as there is a realisation of the richness of the rooted. The preciousness of the familiar, tried and trusted. The trusted motor car, or efficient two-wheeler, hardy pressure cooker, homely safe beauty routine, sturdy absorbent towel, loyal fluttering old curtain, that like us humans, is soldiering on, reliably, is often complimented. Sepia photographs of boarding school friends, paradise lost and then re-discovered, of colleagues at conferences that pre dated the virtual meetings era, are widely commented upon. The loved but slightly sagging armchairs, wherefrom the family takes fresh daily blows on the chin, from the news, are familiar comfort zones.

     

    On an unforgiving day, day after day, trust in brands has primacy more now than in the past. The trusted is gold, to have and to hold. A hermit mindset is mindful of people over things. As generations in the family retreat to their “cave”, the main treasure to cherish is conversations with people. Caves by definition are bare, whatever the cave. Conversation, hence connection is all there is. Teens in their rooms, children on their screens, parents in their kitchen, bathroom, desk, chair, senior citizens in front of heaters, singletons on their social media channels, the long distant couples on their phones, the brave retailer in his shop, and so on. Starved of experience, each realised, all we ever really can have, is a sense of connection. So the person to person connection reigns more than ever before.

     

    (Fractured generational relationships, everywhere are getting rebuilt one conversation at a time. As huddles after dinner, mutters while cleaning, even when sweating, slipping and swearing, at rare times of just chilling, intellectually debating, just simply calling to say how are you).

     

    The “hot” buttons. These are emerging as the five ‘slow living’ hot buttons of the hermit mindset.

    :: Tough love calls.

    :: Inward motivations.

    :: Extreme value consciousness.

    :: Primacy of trust and the trusted.

    :: People bridges.

     

    For these five reasons, despite the shock experienced, the hermit mindset appears braced for simple living and high thinking, relatively speaking, for an extended period of time. Born of necessity – of disruptive as well as accelerated change. Matured of experience – in living through it.

     

    Word of the year

    In a cold place (few distractions), in warm lamp light (illuminating comfort), my word of the year 2021 crystallises. Synthesizing several threads of quantitative data, qualitative insights, expert discussions. Culminating in the notion that “serious is the new cool”.

     

    Serious is the new cool

     

    Large problems demand large, simple solutions which in turn compel larger, loftier vision and thought. Serious stuff.

     

    WT 2020 surveys across developed and developing markets suggest that consumers now believe that the challenges and opportunities humanity faces loom large and new, in scope, scale and yes even, scariness.

     

    Firstly, consumers prefer brands that demonstrate a new kind of civic leadership – in tackling these big world problems, not just small ones. There is a vital need for fresh, innovative and holistic approaches, like never before. There is optimism that a fresh generation of thinkers and doers will provide this unique and much needed perspective.

     

    Secondly, consumers also believe that brands (more than several other social organisations) are best placed to provide effective, innovative, well thought through, consumer centric ideas and solutions.

     

     

    What serious is and is not 

     

    A world pushed to transform, has had a giant, collective wake up call. And a seriously thoughtful approach is emerging as vital in several fields of endeavour. Not only that, it is transforming the grammar of transformation itself.

     

    Serious is not niche, it is mainstream, part of the “what’s going on” culture. Serious is not obscure, distant nor intimidating, it is viscerally part of the lived daily existence of many. True to context, relatable, relevant. Serious is not cold, nor dry, it is vitally, warmly people centric, even more – generational / community / relationship centric. People first. Serious is not distracted or complicated, but distilled, clear and patiently resilient.

     

    Above all, serious is not boring, nor pedantic, serious is the good it does, and protects and nurtures; and what makes it the new cool. Re-orienting brands, coaching examined. It was always cool to deep dive, take a long view, dig into what really matters. It has intensified manifolds.

     

    It is cool to seek serious help. Seeking help is no longer just for losers, but also for winners, who need it most and especially for movers and shakers who might be yearning for it unknowingly. As much as normal or average people. Getting help is simply being responsible and human. Coaching spells growth. In any arena of life, work, play.

     

    The clever bit, in the coaching conceptual framework, is that the seeker is a client and not just a patient. The expert is a friendly coach not an intimidating authority. There’s a coach offering a master class package, a phone call away, and people are gratefully opting in. Are brands listening ? Are brands observing the re-orientation going on in seeking and receiving serious help via the coaching frame.

     

    Brands can be the poster child of the coaching narrative. We open the door to a year ahead of continuing disruptive change, as well as accelerated change. In such a context, brands can be the poster child of the coaching narrative. Connecting to a new consumer in new and apt ways.

     

    1. The new consumer has a slow living hermit mindset that is inclined to being frugal, contemporary, creative.

    2. The five buttons, of this mindset, are seen to be operating at multiple levels – functional, mental, emotional, social, transactional, relational.

    3. The dots connect to signify serious is the new cool. Based on fresh research on how consumers view change across markets, and their expectations from brands at a time of change. Constructive, innovative, holistic solutions are being sought from brands to address real and big issues/consequences/opportunities.

    4. Brand as coach – ushers brands that build connections like coaches via an ecosystem of empathetic serious help. To reassuringly accept new contexts and leverage new mindsets.

    5. In sum, the quilt of new consumer understanding highlights the significance of : an emerging hermit mindset, serious as the new cool brand narrative, engaging in a coach-client manner.

     

    Purpose of the “quilt of new consumer understanding”. This is primarily stitched, patch by curated patch, to help brand custodians provide much needed empathy and warmth to a hyphenated two tone consumer. Who is at the same time, isolated-connected, anxious-mindful, frugal-creative, contemporary-rooted. And coping amazingly, at full stretch, and counting.

     

    As a patchwork quilt, true to its name, this new understanding too is stitched with the hope of connecting and creating. Being a means for others to add their inputs too.Thus, all together, becoming the basis for enabling much warmth and empathy when brand custodians market, innovate, price and communicate products and services to new urban consumers.

     

     

    Shaziya Khan is National Planning Director, Wunderman Thompson. She has won the Jay Chiat Grand Prix  for Strategy and Three WPP Atticus Global Awards for ‘Original Thinking in Marketing Communication’. Her views here are personal. First published on LBBOnline at https://www.lbbonline.com/news/hermit-mindset-frugal-contemporary-creative-hello-new-urban-consumer