Mintel Consultant’s Top takeaways from Brandweek 2024

This year, three of Mintel’s Associate Principal Consultants attended the epicenter of brand strategy: Brandweek 2024! In the scorching 110-degree heat of Phoenix, Arizona, marketing leaders from iconic brands like Wendy’s, Mastercard, Tinder, and the MLB came together for four days packed with insights.

From AI’s role in crafting personalized experiences to the evolving landscape of DEI in 2024, the discussions were as hot as the weather. Amidst it all, a clear consensus emerged on what’s trending and what’s fading. Let’s explore the current hits and misses in the dynamic world of brand strategy and marketing.

Innovating from culture is in: Several brands at the Brandweek conference highlighted how successful innovation can be driven by cultural events and phenomena with inspiration gained from sports, fashion, music, and more. In order to capture the essence of the moment, brands need to be agile and internally aligned to activate quickly and thoughtfully.

One way brands are currently doing this is by co-creating with entertainment brands to engage in product innovation. Bath & Body Works, for example, has found unexpected ways to combine the physical with the digital by creating novel scents based on hit Netflix shows like Bridgerton and Emily in Paris. Mintel data shows that 45% of US consumers spend the most time watching shows and movies, and providing another touchpoint with which consumers can engage in their fandoms can drive excitement and brand loyalty. Additionally, nearly three-fourths of US parents say that streaming entertainment shows with their kids is a key way they spend time together, offering opportunities for multi-generational product appeal and discussion.

“Single Dimension Experiences” are out: In a world where the competition for consumer attention is at an all-time high, brands can no longer rely on activating just a single sense to pique curiosity and generate a buzz. Brands must learn to provide greater experiential values that use sight, sound, smell, taste, and touch in unexpected yet valuable ways. Innovating with sensory-rich experiences can also provide opportunities to be more inclusive across the spectrum of various physical and neurological abilities, helping to reach diverse consumers in meaningful ways. Mintel data shows that approximately a third (32%) of UK consumers report having some accessibility issue, but products that better serve common issues have the potential to benefit and better serve everyone.

“Shelf Advocacy” is in: Multiple sessions encouraged the idea of “shelf advocacy,” the act of advocating for your values with the products on your shelves. The term “shelf” can be taken both literally and metaphorically. For brands and retailers, it’s quite literal: your product portfolios and your shelves should reflect the diverse communities you aim to serve. This might involve spotlighting Black- or LGBTQ+-owned brands or ensuring your range caters to individuals of all identities and abilities. It’s a concrete way to demonstrate your commitment to your brand values.

But it’s not just about brands—consumers play a crucial role too. They’re encouraged to ensure their refrigerators, medicine cabinets, and closets mirror their beliefs. And there’s a clear interest: over a third of online shoppers prefer brands that support equality, and nearly 20% favor minority-owned brands. Brands can seize this opportunity by guiding consumers towards ethical, sustainable, or inclusive options, helping them diversify their shopping habits and align their spending with their values. It’s about making those shelves – real or metaphorical – a testament to what you stand for.

“Authenticity” is out: The word that is, not the effort. Marketers across industries agreed brands have been leaning a little too hard on the word “authentic” to describe their brand efforts. After all, if a campaign or partnership feels authentic to the brand, it probably goes without saying. Consumers have noticed too; Mintel’s 2024 Consumer Trends (client-link only) explores how consumers are losing trust in brands that talk about authenticity but fail to demonstrate it through their actions. They’re looking for brands that consistently walk the walk, without feeling the need to announce it.

Crafting messaging, experiences, values, and partnerships that are relevant to your brand and resonate with your audience is still the priority. But calling it “authentic” undermines the strategy behind your efforts and raises suspicions. As we move forward, the commitment to meaningful work continues, but the reliance on the term “authentic” will be left behind in 2025.

Going beyond meme culture is in: Building a brand culture is more than inserting your product into trending spaces or a sponsorship deal with the latest influencer. It’s all about brand alignment. Consumers are increasingly savvy and understand the why behind marketing decisions. In fact, Mintel data reveals that nearly 60% of US consumers are inclined to purchase from brands whose purposes align with their own values and morals, suggesting that consumers can spot when an activation is a genuine value alignment rather than a performative marketing effort.

Brands today must integrate themselves into customers’ lives by discovering and aligning with their values, interests, routines, and social identities. Relatability and relevance mean more than using “demure” or “brat” in a social post. It’s understanding what’s culturally significant to your consumer base through research and listening to the consumer’s voice, all in the pursuit of creating a community around shared, culturally significant moments, and making selective partnerships that amplify your brand’s values. This deep integration fosters loyalty and transforms customers into advocates, embedding the brand within their everyday experiences and personal identity.

Demographic-only segmentation strategies are out: At Brandweek 2024, a key theme is the shift from demographic to psychographic targeting. And it’s about time – as Ilona Aman, Chief Marketing Officer at Athleta, said: “60 doesn’t look like what it did 20 years ago and 13 certainly doesn’t look like what it did 20 years ago”. What’s more, 44% of consumers said they feel ignored by brands’ marketing efforts according to research from iHeartMedia. Let’s dive into why that may be.

Brands are moving beyond age, gender, and location, recognizing that consumers are better defined by their behaviors, values, and interests. This shift allows for more personalized marketing, tapping into consumers’ lifestyles, attitudes, and beliefs. Psychographic targeting fosters deeper emotional connections by aligning brand messaging with audience motivations. With data-driven insights and AI tools, brands can now cater to specific consumer mindsets in order to create experiences that resonate on a personal level.

If you found these insights helpful,  what’s next? To find out how our Mintel Consultants can help turn this data into customized strategic solutions for you, please contact us today.