Marketing Firm One Twelve Agency Has Recently Released their 2023 Trend Report

Jan. 12, 2023

There may be a cost of living crisis and soaring inflation, but a growing number of young people are protected by their new found wealth. What implications does this have for brands, particularly luxury brands, more accustomed to targeting older people who have spent a lifetime accruing a fortune or to those with inherited wealth?

According to the Trend Report 2023 from marketing firm One Twelve Agency these millennial entrepreneurs are different from the old guard of wealthy consumers. They’re trailblazers who have forged their own path and will challenge convention. Alongside them are those with increasingly successful side hustles and those making serious money outside their 9-5 jobs.

Luxury brands need a totally fresh approach to marketing to create new campaigns with this new money client in mind. The sector has completely shifted and it’s a huge opportunity for those who can see the trend.

What other trends are predicted for 2023?

• Move over quiet quitting and the Great Resignation. In 2023 there will be demand for Soft Life, a way of living that has physical, mental and emotional well being at its heart. It’s a phrase first coined in Nigeria and popularised by Black women online, referring to a life of comfort and low stress. Gone are the days of high productivity and long working hours. Gone are the days of paying lip service to wellness.
• Sonic branding will be taking centre stage alongside visual identity and logo creation. Audio will be an increasing part of the marketing mix, with 6 in 10 consumers saying sound is more memorable than visuals.
• The rise of inclusive advertising that takes into account the size of the multi ethnic market. Currently only 18% of Black people say they can easily find brands that cater to them and around 4 in 10 Asian and Black consumers say negative racial stereotyping exists in ads. And this in a country where the Black, Asian and multi-ethnic community makes up 16% of the population. 
• Growing influence of African cultures: While African influences have helped shape British culture for decades, these are now more explicit, as more recent generations of people with African heritages are weaving their culture through everything they do, including mainstream brand collaborations and  campaigns. Savvy brands need to work out how African influences connect with UK popular culture.