Consumers to shift their relationship with technology in 2014

According to the latest report on consumer trends conducted by Ford Motor Company, consumers will be re-evaluating their relationships with technology in the coming year.The study reveals that people have a strong desire to reflect on what matters most – friends, family and the community. Consumers are leaning towards nostalgia and recapturing the way things were.The research further uncovers that consumers are feeling a fear of missing out on significant moments as the always-connected way of life continues to overwhelm.Sheryl Connelly, Ford global trend and futuring manager said, “There’s no escaping the impact – both positive and negative – of the rapid pace of technology. What is more fascinating to watch in 2014 is how a culture of reflection is emerging.”“We are seeing a consumer culture that is increasingly mindful of the need to nurture society’s valuable and irreplaceable resources,” Connelly adds. “Across the globe, citizens and brands are stepping up to make things happen through innovation, collaboration and perseverance.”Looking Further with Ford 2014’s 10 trends are:Innovation’s Quiet RiotTechnology has become rather intrusive and disruptive, fundamentally changing the way consumers work, play and communicate. The study shows that adults worldwide believe technology has leaped tremendously in the past five years, with venture capitalists pouring a rough $40.9 million into drone-related start-ups.Old SchoolConsumers are finding comfort and connection in products, brands and experiences that bring them back to yesteryears. It is reported that since Hostess announced its discontinued product, sales rose seven times greater, reaching record high in July 2013. This year also saw a return trend of consumers purchasing holiday cards to send through traditional mail as opposed to e-cards.Meaningful vs the Middle ManConsumers are looking for more intimate connections with retailers and service providers – as reflected by the success of Kickstarter, which has raised cumulative $880 million and launched 50k+ projects since its launch in 2009.  This year also reported that 35% of consumers would rather choose to purchase their holiday gifts from small businesses, up from 27% last year. StatusphereThe middle class is growing and consumers are broadening the ways they display their wealth, mostly migrating towards a more humble and quiet front. Eighty-six percent of Americans said that what you do with money is more important to your status than how much money you have. Gucci also reported a 23% hike in revenue in China since removing its prominently displayed logo in the market.Vying for Validation Social media has taken over real identity. Consumers are likening to create a public self that require more validation than their authentic self. Accordingly to a whitepaper published by Facebook, over 250 billion photos have been uploaded to Facebook with more than 350 million photos uploaded daily. Seventy-four percent of respondents also think they paint a better life picture of their lives on social media than in reality.Fear of Missing Out/Joy of Missing OutOn one end, consumers are taking advantage of things at their disposal, yet on the other hand, they are mindful of the need to focus on and enjoy the moment. Globally, it is reported that smartphone users check their phones a minimum of 150 times a day. Nearly 90% of undergrads reported that they felt phantom vibrations from their phones, with hospital workers reporting feeling the same woe on a weekly or monthly basis. Micro MomentsDowntime has been filled with chunks of sporadic information, education and entertainment, leaving no real time for rest. Seventy-nine percent of British taxi passengers admitted to spending a majority of their journey surfing the web, while 87% of respondents claiming to check their personal emails. Eighty-eight percent of adults think that with technology, it is possible to get a lot done in a short amount of time.Myth of MultitaskingThe digital age has allowed for multi-tasking, but more and more evidence suggests that while many tasks are tackled, many are done at the expense of quality. Studies show that while working and being distracted by incoming calls or e-mails can lower a person’s IQ by 10 points. In 2010, a hefty 1,500 pedestrians were treated in emergency rooms for cell phone related incidents. According to a Standford study, the more a person multitasks, the less they are able to learn, concentrate and be friendly.Female FrontierProfiles of women have reached new prominence; men and women will redefine their roles and responsibilities in 2014. This year Forbes list of billionaires comprised of 9.7% women billionaires, up from 8.5% in 2012. In the same release, nine women made the list of The World’s Most Powerful People, representing 12% of the overall ranking.Sustainability BluesFirst green, now blue. Consumers are more aware of the need to be power and water conscious in the future. Seventy-five percent of China’s rivers and lakes are severely polluted with 100% of respondents in China saying that water is the most critical element of environmental resources. In the last century, the global population has tripled and water usage per individual has doubled.“While the world may seem stagnated by gridlocked governments and economic uncertainty, the truth is that we live in an era of constant change. Across the globe, citizens and brands are stepping up to make things happen through innovation, collaboration and perseverance,” Connelly says.This is the second annual trend report by Ford Motor.