In the final press briefing of Day 1 for IFA 2020 Special Edition, Warren Saunders, Northern European Lead at GfK spoke about the global consumer electronic landscape and, of course, how the pandemic is and will continue to affect it.
Saunders broke down this Experience Economy we are seeing today – one in which many goods or services are now sold by emphasizing the effect they can have on people’s lives. Experiences become their own category, just like “goods” and “services.”
He mentioned the recurring themes we are seeing today as being Disruption, Acceleration and Data Overload, cautioning with the latter, “It’s important that we don’t assume everything will change and throw what was happening pre-pandemic in the air. We don’t know what new behaviors will stay and what behaviors might not.”
What he did admit to knowing is that it’s been an odd year, but that the opening day of IFA 2020 Special Edition was extremely encouraging, referring to the many press events that took place during the day. “Lots of amazing innovation unveiled today,” he said.
He concluded by saying, “It’s important for everyone in this space to act tactically as well as strategically. It’s actually more important than ever to use data analytics, look more closely at exactly what consumers are thinking, what is going with consumer attitudes as they continue to change, even beyond the COVID crisis.”
As time wound down, Saunders wrapped up his brief by admitting that he may be keeping those in attendance from vital needs, such as food and, of course, beer. With that, the curtain was drawn on Day 1 with much to absorb, and a pair of exciting days ahead.
To see the full briefing, click here.