Ford releases 2024 report exploring consumer trends
Ford’s 12th annual trends report serves as a “wake-up call” for a changing world, the multinational vehicle company said in a media release, given that the survey revealed “a significant shift in how people prioritize their lives.”
From focusing on self-care to the impact of artificial intelligence on jobs, the “2024 Looking Further with Ford” report provides insights into the future and the emerging trends that will shape it, the Michigan-based manufacturer said.
Each year, Ford analyzes global trends to understand evolving consumer behavior, aiming to use these insights to inform future strategies for engaging with customers.
The survey across 16 countries, explored key trends such as:
“There’s a global consensus on the urgency of addressing climate change, with many claiming to be modifying their personal habits to be more environmentally friendly. But people want a seamless integration of sustainable solutions into their everyday routines. They seek simplicity where products, services, and experiences allow them to make positive contributions to the environment without disrupting their lifestyle,” the release reads.
“While the future of transportation is moving towards electricity, some are hesitant to adopt electric vehicles (EVs) over concerns about insufficient infrastructure making charging a challenge. It will be up to companies to make sustainability an easy, convenient choice if consumers are expected to embrace it,” Ford said about the matter.
Investing in me
The report found that many people are feeling anxious, struggling to adjust to a changing world. Eight in 10 surveyed recognize the importance of finding “inner peace.” The report found that they are prioritizing “connecting with others, letting go of toxic relationships” and embracing the outdoors, disconnecting from screens to focus on themselves.
Working for balance
Workers are reassessing their priorities, the report found, with many stepping away from the “constant hustle for career advancement” in favor of well-being.
“In fact, half of the global workforce would accept a 20% pay cut in favor of prioritizing their quality of life,” the company said.
While most respondents reported feeling connected to their jobs, they “acknowledge that a stressful job simply isn’t worth it,” Ford said. “Looking to the future provides hope, with technology being the key. Most feel that AI will contribute to a better work-life balance and may even guide them to their next job.”
The concept of family is evolving, with traditional norms of marriage and parenthood no longer seen as mandatory, the company’s news release reads. The next decade may see more pets than children in families, the report found, as many respondents expressed a preference for pets over kids.
Society is balancing tradition and progress, with two-thirds acknowledging the stability of traditional family roles while advocating for “support of non-traditional dynamics,” according to Ford’s summary of the report.
“People are redefining what a family is, creating the family they want — moving beyond the traditional definition and into Family 2.0.”