The Age of Acceleration is here!
What is it? What’s the impact? How is it changing consumer behavior? Most importantly, what does it mean for brands trying to stand out and stay relevant?
The Age of Acceleration refers to a period of rapid advancement in technology, communication, and globalization that is transforming society and reshaping the way we live, work, and interact with each other. It is characterized by exponential growth in data, speed, and connectivity.
It is an age of MORE….
More ads. Today, we are estimated to encounter up to 10,000 ads in a single day. That has increased from 5,000 in 2003. (Forbes)
More apps. There are 3.5 million apps & counting! (App Store 2023)
More distractions. The average American spends about 13 hours a day using technology and checks their phone an average of 344 times per day (reviews.org)
More products. The average number of products in a supermarket has risen from 25,000 in 2003 to +35,000 in 2023. (FMI)
And that ‘more’ is only moving faster.
Just in the last 5-10 years, we have seen the proliferation of the metaverse, TikTok, AI, Cryptocurrencies, NFTs and the list goes on… With an average of 7.6 active social media accounts per person (GlobalWebIndex), consumers now have access to an unprecedented amount of information and products.
Figure 1: Ourworldindata.org, ‘The rise of social media’ (Ortiz-Ospina, 2019)
But what is the impact on brands?
Brands face ever-spiraling competition for consumers’ attention and affection.
Consumers expect to be able to access products and services whenever and wherever they want. Gen Z, enabled with ever more sophisticated technology, are changing buying behaviors, tastes and trends. As noted by McKinsey, ‘Most Gen Z consumers don’t even think in terms of traditional channel boundaries… increasingly evaluating brands and retailers on the seamlessness of their experience.’
‘Consumers expect to be able to access products and services whenever and wherever they want’
Traditional brick & mortar retailers must now compete with new players entering the market, such as technology companies and direct-to-consumer startups, and meet the demands of customers who expect seamless, fast, and convenient shopping experiences.
This culture of instant gratification, where customers expect products to be delivered faster than ever before, puts pressure on supply chains to prioritize speed over cost-effectiveness, resulting in increased transportation and warehousing costs, as well as higher risks of supply chain disruptions.
At the same time, the Age of Acceleration has brought a greater awareness of the environmental impact of supply chains, leading to increased pressure on companies to reduce their carbon footprint and operate sustainably.
The Age of Acceleration can make us feel like we’re drowning in a fire hydrant.
So, how do we keep up with this accelerating rate of change?
To survive—and thrive—brands need to stand out and stay relevant.
Brands need to fight for consumer attention & affection.
Brands need to act with greater speed & control.
But how do you do that?
BRANDED exists to help your brand surf the Age of Acceleration.
Get in touch to understand how our award-winning creative can help your brand cut-through the ‘more’, and how our unparalleled speed, control and efficiency of implementation can help your brand cope with the ‘faster’.