CREATING AN OPTIMISTIC FUTURE

FUTURE STRATEGIES

As consumers realize that “normal” was not working, businesses will have to employ new strategies to create a more optimistic future for them

THREAD

- companies, economies, societies will have the opportunity to build back better as they repair themselves from the pandemic
-as the future feels uncertain, businesss need to step toward to play a role in creation of an optimistic future

-Prior to pandemic, things that governments/businesses told citizens/customers/workers were impossible have become both possible and necessary as society navigate a new landscape

-shift encompasses every aspect of human life, from gov structures and support, to sustainability, community, human connection and design
-OECD forecatsting 6% decline in global GDP in 2020 in OPTIMISTIC scenario

-As economies work to manage the depth/length of recession, OPPORTUNITY for gov. and companies to invest in economies through projects that endorse greener and more inclusive economies that will be more reisilient in facing societies future challenges

BLOWING UP THE OVERTON WINDOW

-model that looks at how different political and social ideas can be deemed acceptable at any given time in society
-people at both ends of political spectrum are becoming even more polarized

-Ex. acceleration of BLM one of the spectrum, other end of spectrum armed right wing protesters campaigning against loss of freedoms they lockdown periods
- as both ends of conservative and liberal spectrum push ideas once considered extreme, wide # of policies seem reasonable

- situation has become increasingly complex, populist leaning gifts forced to implement social benefits traditional championed by liberal policies

- societies coming out of the pandemic have a window of possibility to participate in creating the FUTURE they want to SEE

SPECULATIVE FUTURES

- forward-poking narratives focus not on a positive future but preventing catastrophic impacts of climate crisis
-people emerging from pandemic hoping for climate-positive, equitable + healthier future want to reinvision what we should be working towards

- The Future We Choose by Figures & Robert-Carnac describe a world of 2050 if we make correct choices around climate
- paints a picture full of trees, ENERGY flowing from renewable sources, communities enhanced thru massive veg gardens and other shared services (stay w me here)

ACTIONS:

-As new dreams open up, endure you build on people’s hopes and visions of what could be possible
-work with designers, futurists, storytellers to help envision the world of the future
-bring customers along in process, reimagine products for future scenario

FROM UNSKILLED TO KEY WORKERS

-redefine formal frontline workers
-retail, healthcare etc. workers considered essential
-brands remove bonuses but highlight heroism
-how biz take care of staff differentiator

- nature of casual relationship unclear ( better benefits -> better service -> customers choosing to shop w/ good corporate citizens )

ACTION:

-go beyond lip service to celebrate staff
-ensure value thru fair salaries, benefits, development opps, upward mobility
- resist urge to use hi unemployment levels to minimize benefits

ANTIRACIST

-BLM movement and protests against progressed push towards anti-racist future
- release of George Floyd killing cause global protests
-movement opening up convos about what it means to create anti-racist society

ACTIONS:

-move beyond social media rhetoric to build racially just workplace
-investigate gaps across all levels of business + gaps in salaries
-work w black creatives/influencers in authentic non-bandwagoning day

-engage in unconscious bias training to stamp out micro and macro aggressions
-look beyond biz to see where you can add value in communities, supporting education and development scheme thru mentorship and support

GREEN RECOVERY

- as consumers feel hope for sustainability and green future, prioritize investment in green projects
- EU announced green recovery plan, €750mm package to place fighting climate change at center of pandemic recovery

New Zealand revealed $30B COVID-19 recovery plan w/ thousands of jobs in environmental projects
- South Korea implementing Green New Deal after Dem Party win in April

- businesss using window for promote collaboration on green goals, 155 companies valued at $2.4trn and 5 million employees calling for govts to align economic aid w/ latest climate science

ACTIONS:
-Support strategies that will prioritize investment in green infrastructure
- get ahead of future legislation (or products) likely to be implemented in certain markets around green invstmt and expectations
- build biz opps that tap into those areas of green investment

WELL BEING ECONOMY

-as gov’ts look to reframe economies in recessionary environment, focus shifts to place more emphasis on wellbeing, balance of financial health

-Governments around the world starting to consider strategy laid out by NZ JN 2019, deprioritizing FINANCIAL GROWTH and focus on WELL-BEING
-Scotland beginning public consultations on how it will define post-pandemic world
-focus on UBI, health + wellbeing, homes and community

-NZ + Scotland considering 4 day work week
-possibility to embed flexibility worker’s experienced during lockdown and boosting domestic tourism
-help parents in landscape who only see children part-time

ACTION:

- as ppl return to traditional office/ working structures, begin consultations with staff to see what shifts can take place to increase well being
- consider benefits of more flexible hours / 4 day workweek

SAFETY NETS

-as unemployment levels rise around the world, countries need to continue protections employed thru pandemic to create deeper safer nets for citizens navigating new economic landscape

- according to McKinsey, up to 59% of jobs are are risk in Europe - 26% of total employment in 27 member states + UK.
- people fear for future of jobs, increased support for UBI, 72% of Euros in support according to Euro Council of Foreign Relations

- In US, unemployment rate in May as high as 14.7% , highest levels in recorded history
-countries now pulling back from furlough schemes, those that implanted genesis income support appear to be coming out of crisis w higher levels of consumer confidence

- as lockdown ease + biz attempt to adapt to learn what demand there is for products, companies need to look at new employment agreements w/ help from govt to manage next phase of recovery
- pandemic force gov. to reckon w future of employment
-ensure safety nets

ACTIONS:

- work go keep as many ppl in employment as possible
- cooperate w govts in support schemes for reduction in workload while maintaining staff salaries
- suppprt govt plans for safety nets to ensure certainty for citizens against fears of automation, future crises

NEW VALUES SYSTEMS

-Small moments of pleasure priorities as consumer are forced to stay home
-economic constraints + future travel redirections forcing people to enjoy the small things

-deferred/diminished opps in career/financial attainment -> people look for cheaper and sustainable alternatives to personal satisfaction, sense of autonomy + control
- hustle culture take on new form post-pandemic, people strive to pay rent vs CONSUME

-sustainable behaviors already emerging as status indicators, w/ influencers such as Kardashian staffer Stephanie Shepherd creating content that makes sustainable behaviors aspirational
- craft, gardening, cooking, dancing, family to continue in importance

- new status indications will emerge less driven by consumption -> more focus on well being and balance in uncertain world

ACTION:

- develop products/service that help tap beauty of slower life
- ensure comm strays celebrate moments of pleasure that becomes priority in recessionary environment
- champion well-being benefits

COMMUNITY MINDED

- ppl prioritize local communities thru pandemic, look for ways to enhance connection
- only 9% wanting to return to normal life post pandemic, community key things consumer felt had improved
- 40% felt stronger sense of local community 39% more in touch w fam

-societies emerging from crisis are continue to prioritize local brands in attempts to help weather recession
- McKinsey highlighted in Australia not a rise in nationalism, but strong support in local communities
- willing to sacrifice convenience vs interest of helping out locs

ACTIONS

-consumers feel connection to community, find ways to enhance those links
- increase local sourcing and partner w local biz impacted by social distancing
- enhance cohesion thru steadies that show you care about well being of communities

CRAFT AND VALUE

- consumers consider how they spend more carefully in post-pandemic landscape, focus on creating products ppl value
-consumers reconsidering relationship w consumption, create sense of excitements about purchasing

- people adapting to new reality of WFH setup, those in secure employment reprioritizing spending w fewer opps to spend on experiences
- no travel, festivals, live music, etc.
- 62% surveyed by Retail Forecast said they intend to make fewer purchases in 2019

- 67% said they planned to spend less on fast fashion bc of potential environmental impacts of production
- spending priorities will be around making those places where consumers spend time (home) as pleasurable as possible to adapt to new hybrid lifestyle

Opportunity for biz to focus on considered consumption emphasizing quality, tapping into less-but-better mindset

ACTIONS:

- indicators of status focus less on experience, instead on craft, intrinsic value, and provenance
- Brands should focus energies on celebrating process of design, quality, or sustainability of raw materials to tap into consumer mindset

ACTION POINTS:

1. Focus on the future you want
2. Understand the complexity of recessionary mindset
3. Support creation of fairer systems leading to greener/healthier economies
4. Tap into value shifts that will lead to prioritization or slower life

Tried to have fewer typos this time lol

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