New Normal, New Consumers

Matt Britton is America’s leading expert on the new consumer; having consulted more than half of the Fortune 500 companies over the past 20 years. At Radio Ink Forecast LIVE, Britton took a detailed look at how the pandemic has consumers Changing At The Speed Of Sound.

In his session Britton focused on how the new consumers are viewing Home, Shopping and
how they Live in the new normal.

Looking at the home, Britton sees the American home is being redefined. Consumers are moving toward making their homes more comfortable.

“Homes are taking on a new role as gyms, bars, schools and entertainment complex. Consumers are redirecting a lot more of their focus and investment into the home. More than 50 percent of people are saying that their home has taken on a new role.”

Looking ahead, as the new normal develops and restrictions are eased, Britton says opportunities will present themselves, and the industry needs to be ready to respond.

“A big part of the industry is learning to understand the new consumer and the implications the changes are going to have on the audio industry moving forward.”
“Consumers have exchanged excitement for comfort. They are traveling less, dining out less, going to less live events. There is less serendipity, mystery or overall intrigue in their lives. So you are finding a consumer set that sort of has a pent up desire for excitement. That creates a huge dynamic heading into next year.”