Background

The data, provided by Attest, tracks consumer confidence, attitudes and behaviours year-on-year, to provide vital insights for brand and marketing professionals.  Based on a nationwide representative survey of 1,000 working age UK consumers conducted in November 2023, the insight is showing some signs of positivity and an increase in willingness to spend more freely so far this year – particularly within the younger demographic.

We’ve broken down some of the insights to share with you and to help inform your marketing plans…

Increased Consumer Positivity

There’s been a significant increase in consumer positivity, with 62.5% of UK consumers feeling positive about the future, compared to 45.5% last year.  The huge shift in positivity could naturally correlate to an increase of customer consideration and spending too.

This uplift in sentiment is particularly pronounced among younger consumers and those living in London, indicating a potential for increased spending and engagement in these demographics.  Usually, capital cities experience a faster economic recovery compared to other regions, making them vibrant hubs for brands to initially target and engage with consumers.

Less Reassurance, More Laughs!

Consumers are moving away from needing reassurance in marketing messages towards preferring humour and education.  This shift suggests that brands should adapt their messaging to align with the current mood of optimism and focus on engaging and informative content.  Brits are presumably tired about hearing about the cost of living crisis amongst other serious matters in advertising, and instead are wanting ad campaigns to lift their spirits and dovetail with their happy mood.

A little over 55% of consumers are seeking funny campaigns (up 6.4% from 2023), whilst the need for reassuring messaging is down 4.7% this year to 40.5%.  Interestingly, women have a bigger desire for reassuring brand messaging compared to men (47.3% vs 33.5%).

With regards to educational messaging, Gen Z are leading the way, with 39.7% of this demographic demanding campaigns & experiences that include some level of learning, in an area that has seen an overall incline from 24.2% to 30.2%.

Time for brands to elevate humour and education across the board.

Changing Concerns

While poverty and inequality remain important issues for consumers, there’s been a decline in the urgency around these topics. Additionally, there’s a notable decrease in concern over climate change, though it remains a significant issue. Brands may need to balance their political and social stances carefully, recognising the diverse priorities of their audience.

We can also see a +6.1% increase in consumers who do not want brands to be political at all, which could be reflective of the public’s frustrations and annoyance in the UK government’s leadership of late…

Growing Consumer Confidence

Consumers are beginning to spend more freely, with a notable decrease in ‘cautious spending’.  Younger consumers, in particular, are displaying a willingness to spend more (44.6% spending ‘freely’ – higher than any other age group), which could signal opportunities for brands targeting this demographic (18-24 years old).

A deeper dive into spend-by-region highlighted that there is most consumer confidence in London, and least in the North East.

In terms of being cautious with spend, shoppers aged 55-64 over-index for careful spending (64.8% keeping their purse strings more firmly tied than other demographics).

TikTok’s Rising Influence

TikTok has emerged as a crucial platform for brand engagement, especially with the younger demographic, signalling a pivotal shift in how brands strategise their digital presence. Its rapid growth from 21.1% of UK consumers using the platform to engage with brands last year, to 33.1% this year, underscores the importance of incorporating TikTok into the core of social media marketing strategies to captivate this tech-savvy audience effectively. Beyond traditional engagement, TikTok is pioneering the fusion of entertainment and commerce, offering a direct-to-consumer shopping experience that resonates with its users. Moreover, the platform is increasingly being utilised as a dynamic search engine by a younger, more technologically adept consumer base, showcasing its potential as a multifaceted tool for brand discovery and engagement.

To thrive on TikTok, brands must navigate the nuances of short-form video content, which demands creativity and authenticity to capture the fleeting attention of users. Partnerships with TikTok influencers are not just beneficial but essential, as they wield the power to craft relatable content that amplifies brand messages within the community. Influencers understand the pulse of the platform, enabling brands to engage with audiences through content that entertains, educates, and inspires. Analytics and trend monitoring play a pivotal role in shaping successful strategies, offering insights that guide the creation of content that resonates and drives engagement.

In an era where digital natives seek brands that align with their values and interests, TikTok offers a unique space for brands to showcase their personality, connect through culturally relevant content, and leverage the platform’s advertising solutions to achieve diverse marketing goals. From organic content creation to strategic ad placements and influencer collaborations, TikTok facilitates a comprehensive approach to digital marketing that is both innovative and impactful.

YouTube has also seen some growth in brand engagement, with 45.5% of consumers stating they interact with brands on the platform (up from 41% last year).

Conclusion

Overall, the report suggests that 2024 presents opportunities for growth and engagement across various consumer segments in the UK.  Brands that adapt their strategies to align with these emerging trends – focusing on positivity and humour, whilst exploiting trends and tools across emerging social platforms, will be well-positioned to connect with consumers and drive success in the year ahead.

Next Steps?

To chat about how Mynt can un-earth key insights for your brand to refresh your marketing strategy, advertising campaigns, retail design and customer experiences, let’s chat.