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Megatrends: Diversity and Inclusion

November 2022

Increasing attention to consumer values results in the empowerment of everyone. Race, ethnicity, gender, age, physical abilities, culture and religion, financial position are check points for creating universal design. Consumers value none-size-fits-all products and services, while businesses move from mere compliance to natural development of diverse workforces. This briefing analyses Diversity and Inclusion megatrend through the framework of three major component trends.

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Key Findings

Growing diversity is resulting in fading stereotypes and cliches

Diversity will grow significantly by 2040. By then, nearly 15% of the global population will be over 65, 50% will be female. There will also be greater representation of different ethnicity groups. Although with growing diversity, consumers realise that every individual is different and stereotypes relating to race, ethnicity, age, gender, sexual identity and disability are gradually fading, they remain among the top widespread issues.

Empowering the marginalised and ensuring accessibility for all leads to a universal design

Realising that the population is heterogeneous and everyone belongs to the society raises the need for homogenous inclusion or levelling of the playing field. Consumers request minority empowerment and representation, while companies answer the quest by creating a universal design.

Consumers vote daily - by purchasing or by boycotting, by voicing opinions on online media or filling the streets with social action

In 2022, one in two consumers stated that they only buy from companies and brands they trust entirely, and one in three mentioned that they prefer brands that align with consumer values. One in four consumers declared to boycott offerings that do not share the same social beliefs, and two in five said they like to engage with brands. Consumers refuse to be silent spectators - they take power into their hands and vote for what they believe.

Authenticity and transparency become the strategies to earn consumers’ loyalty and trust

Consumers worldwide remain sceptical about trusting corporate websites and advertisements, however, they are increasingly inclined to hear and trust the voices of company employees. As consumers vocalise their thoughts and realise the power they hold, they use it to demand authenticity and transparency. The importance of voices within the company has been growing over the past years, making employees a source of authenticity and transparency.

Megatrends: A framework for the future ?
Leaders harness megatrends to disrupt a market
Pillars of Diversity and Inclusion
Key findings
Diversity and inclusion in essence
Opportunities and Challenges
Diversity and inclusion: What to focus on
The drivers shaping consumer behaviour
The quantitative drivers of change
Shifting economic power: Rising purchasing power of the bottom of the pyramid
Population change: The rise of senior- and culture-friendly offerings
Environmental shifts and pressures: Inequality hurts the underserved the most
Technological advances: The true empowerment by the World Wide Web
Changing values: Celebration of individual is at the core of inclusiveness
Diversity and inclusion today is three-dimensional
Beyond stereotypes
Beyond stereotypes: S hift towards ageless society
Case study: Smooth payment experience for seniors by Japanese payment ring Evering
Beyond stereotypes: Tackling gender disparities through equal opportunities
Case study: Female fighters continue to land punches on the gender stereotypes
Case study: Pampers’ new film champions for equal parenting in India
Beyond stereotypes: Growing gender fluidity through legal empowerment
Case study: Tiffany & Co launches first ever engagement ring for men
Case study: Target’s 2022 Pride is making gender non-conforming clothing more affordable
Accessible for all
Accessible for all: Moving towards an inclusive future
Case study: Kansas City International airport to offer simulator for travellers with disability
Case study: Tommy Hilfiger’s adaptive clothing line for people with disability
Case study: Football player Carson Pickett puts limb difference in the spotlight
Case study: LEGO adapted to help teach children Braille
Accessible for all: Creating universal design for recalibrating the world
Case study: Pfaff Harley-Davidson creates Tough Turban, a tandem of safety and culture
Case study: discovery+ and Eurosport urge viewers to rally behind refugees
Social goodness
Social goodness : Businesses are instrumental to social change and consumers are watching
Case study: Yuhan -Kimberly empowering women leaders in South Korea
Case study: Zomato p ressured to address employee needs in India
Case study: Cora on the quest to fight period poverty and normalising women’s bodies
Social goodness : A ripple affect of BLM movement re-igniting DEI dialogue
Case study: TikTok introduces creator-crediting to recognise original creators
Case study: Airbnb bridging digital divide to foster inclusive economic growth
Social goodness : The rise of employee voice as a trusted source of authenticity
Case study: Disney employees demand action against controversial bill
Diversity and inclusion: What to focus on
Diversity and inclusion in brief
Leverage the power of megatrends to shape your strategy today
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