Global Economy in 2050 Fastest growing economy is centered in South and Southeast Asia by 2050. However, GDP per capita is still highest in Europe and North America. Crowdsourcing strategy approach could be different for the higher income countries and t

[Audio] The Fast-Moving Consumer Goods (FMCG) industry stands at the crossroads of dynamic change, perpetually shaped by the ebb and flow of global economic currents and the evolving preferences of consumers worldwide. As we peer into the future, the landscape of 2050 emerges as a canvas painted with the vibrant hues of transformation. Extensive research conducted by PwC casts a spotlight on the unfolding narrative: the year 2050 poised to stand as a testament to the significant metamorphosis brought forth by developing and emerging economies. It is these very economies that will etch their mark on the annals of history, contributing substantial brushstrokes to the canvas of real GDP growth. Central to this narrative are the torchbearers of change, the heralds of a new dawn – Gen Z and Gen Alpha. Emerging from the cocoon of the present, these generations are the architects of tomorrow, currently navigating the intriguing intersection between their teenage years and early twenties. Their influence on the global stage is anticipated to be nothing short of revolutionary, as their values, aspirations, and predilections ripple through the fabric of society. As the pace of technological innovation accelerates, reshaping communication, commerce, and connection, these nascent generations are embracing and coalescing with these advancements seamlessly. Their digital fluency, coupled with an intrinsic understanding of the digital landscape, shapes their consumer behaviors. They demand convenience, personalization, and authenticity in their interactions with brands, precipitating an evolution in the way businesses engage with their audiences. Yet, amidst the electrifying anticipation of what lies ahead, it's important to recognize that the changing tide also presents challenges. The dynamic nature of the FMCG industry means that adaptability is key. The companies that thrive in this era of transformation will be those that can pivot swiftly, leveraging data-driven insights to anticipate shifts in consumer preferences and market dynamics. They will need to walk the fine line between tradition and innovation, harnessing the power of technology while retaining the core values that underpin consumer trust. In conclusion, the FMCG industry's journey towards 2050 is akin to a riveting saga, where economic evolution and generational influence converge to script a story of reinvention. The roles of Gen Z and Gen Alpha as catalysts for change cannot be overstated, as they sculpt the contours of the marketplace through their unique vantage points. What unfolds over the next few decades will undoubtedly redefine how we perceive, produce, and consume fast-moving consumer goods, and in doing so, reshape the very essence of the industry itself..

[Audio] In the grand tapestry of time, Gen Z and Gen Alpha, though currently in the cocoon of their formative years, hold within them the promise of becoming the future architects of our workforce. As they venture forth from their nurturing grounds into the bustling urban landscapes that await, their role in shaping the trajectory of our industry becomes an undeniable force to reckon with. The potential they carry for influencing the very essence of our field is like a hidden gem, waiting to be unearthed. These generations, nurtured in an era of rapid technological advancement, embody the fusion of innovation and aspiration. Their footprints are already discernible in the sands of progress, marked by their inclination towards digital interactions and real-time engagements. Through digital forums, social media platforms, and the subtle dance of conversations with chatbots, they have begun to shape a unique language of interaction. It's as if they have mastered the art of communication in a world that thrives on pixels and connectivity. This metamorphosis in communication is a harbinger of what lies ahead for our industry. The transformation of the consumer journey isn't just a matter of convenience; it's a paradigm shift that aligns with the very essence of how Gen Z and Gen Alpha perceive and navigate the world. The traditional touchpoints and linear pathways of yesteryears are giving way to interconnected nodes and dynamic routes. To remain relevant and resonate, we must reimagine our strategies, infusing them with the pulse of digital fluency and the heartbeat of real-time engagement. In this unfolding saga, every strategic decision is a brushstroke on the canvas of our industry's destiny. The choices we make, the pathways we chart, and the bridges we build between tradition and innovation will shape the landscape for generations to come. The narrative isn't merely about adapting to change; it's about pioneering change, embracing it as an opportunity to flourish in uncharted territories. The importance of foresight and adaptability cannot be overstated. As we gaze towards the horizon of possibility, we must recognize that the future isn't a distant shore; it's a tide that ebbs and flows with the choices we make today. The strategic decisions we weave into our tapestry now will reverberate through time, setting the stage for an industry that dances to the rhythm of evolving consumer dynamics. In conclusion, the role of Gen Z and Gen Alpha extends far beyond their present. They are the torchbearers of a new era, guiding us towards a landscape where digital realms and human aspirations converge. Our industry's evolution hinges on our ability to embrace their preferences, learn from their interactions, and chart a course that harmonizes with their expectations. As we stand on the cusp of transformation, let us remember that every step we take today etches the contours of our industry's tomorrow..

[Audio] It's unsurprising that numerous multinational corporations are increasingly embracing digital and social platforms as channels for engaging with these young prospective consumers. Nevertheless, our research reveals that much of the focus lies in marketing endeavours, brand cultivation, and New Product Development. While these endeavours have their merits, they tend to be more one-sided in their approach. It's evident that future consumer behaviours will pivot around critical themes such as health and wellness, e-commerce convenience, personalization, ethical values, social consciousness, demographic shifts, digital immersion, urbanization, and sustainability. Drawing a comparison to ongoing trends, our team has uncovered a proactive approach that aligns with this trajectory. Particularly in comprehending the psyche of Gen Z and Gen Alpha, we can harness these platforms to effectively convey the importance of sustainable practices and the collective effort required to address these challenges collaboratively..

[Audio] Generation Z individuals in the United States are avid users of various social networks, utilizing them for building connections, consuming multimedia content, engaging in gaming activities, and sharing their own creations. Among these platforms, Snapchat leads with 42.0 million monthly Gen Z users, followed closely by TikTok with 37.3 million users, and Instagram with 33.3 million users. These three platforms are projected to maintain their popularity among Gen Z for the next four years. While extensive use of social media is a defining characteristic of Gen Z, the specific platforms favored by this generation likely differ based on their age groups. Research conducted by The Measure Protocol targeted the older segment within Gen Z, showcasing usage patterns that align with expectations. For instance, preferences for Snapchat and Instagram over platforms like Facebook were observed, as Facebook tends to attract an older demographic. The study encompassed participants aged 26 and above as well, and their preferences resembled those of the wider population. However, it's important to recognize that Gen Z's social media habits will naturally shift as they mature. In the span of a few years, Gen Z users who currently favor platforms such as Instagram or TikTok might find themselves becoming more active users of Facebook. Despite these gradual shifts, the emergence of social media crowdsourcing stands out as a significant information source for many individuals. This phenomenon underscores the increasing importance of collective input and collaboration in shaping the way people access and interpret information in today's digital landscape..

[Audio] The younger generation is displaying a heightened awareness and concern for environmental, social, and governance (ESG) considerations across multiple facets of their lives. This trend is propelled by educational efforts, including the integration of ESG topics in curricula and the rise of youth-led organizations advocating for ESG-related causes. The younger demographic is notably reshaping investment practices by favoring sustainable funds and companies with strong ESG performance. Moreover, their purchasing decisions are increasingly influenced by ESG values, resulting in greater demand for ethical products and services. In the workplace, these individuals prioritize employers that emphasize inclusivity, environmental responsibility, and ethical conduct. Leveraging the power of social media and online platforms, this generation is able to amplify ESG-related concerns globally, participating in digital activism, raising awareness, and even influencing policy decisions. As this generation ascends into leadership positions, their ESG-conscious approach is poised to instigate substantial shifts in industries and policies, contributing to a more sustainable and equitable future..

[Audio] Crowdsourcing trends for communicating sustainability and ESG topics to Generation Z and Generation Alpha involve authentic storytelling, interactive educational content, and user-generated media. Engaging these generations through co-creation of sustainable solutions, influencer partnerships, and peer-to-peer learning platforms can foster their innovative thinking and desire for positive change. Localized initiatives, feedback gathering, and advocacy efforts can also be facilitated through crowdsourcing, with gamification elements enhancing participation. However, staying up-to-date with evolving trends is crucial, as the fast-paced nature of technology and preferences may lead to the emergence of new strategies and approaches. Effectively communicating these crucial topics requires a deep understanding of the target audience and effective engagement channels. The success of communicating Environmental, Social, and Governance (ESG) topics via a crowdsourcing platform depends on several factors, including the strategy, execution, and alignment with the preferences of Generation Z and Generation Alpha, who are the intended audience. While there is potential for success, it's important to consider both the opportunities and challenges involved. Likelihood of Success namely A closer and real time engagement Crowdsourcing can engage younger generations by involving them directly in the content creation process. If the platform offers interactive and creative ways for them to participate, such as sharing their stories, ideas, and solutions, it can foster a sense of ownership and engagement. Emphasize on the authenticity Generation Z and Alpha value authenticity and are more likely to connect with content that feels genuine. Crowdsourced content has the potential to resonate because it often originates from real experiences and voices, aligning well with these generations' preferences. Magnifying the influence Utilizing influencers from these generations who are passionate about sustainability and ESG can extend the reach and credibility of the crowdsourced messages. Influencers can act as relatable role models, helping to drive the success of the campaign. Continuous education and awareness creation Crowdsourcing can enable the creation of educational and interactive content that effectively communicates complex ESG concepts in a more approachable manner. This can help raise awareness and understanding among the target audience. As to the challenges and considerations are such as: Quality Control Crowdsourcing can result in a wide range of content quality. Ensuring that the messages align with accurate information and desired messaging can be challenging, requiring effective moderation and curation. Overwhelming impact Generation Z and Alpha are exposed to a constant influx of digital content. Crowdsourcing efforts need to stand out amidst this noise and capture their attention effectively. Diverse Perspectives ESG topics are multifaceted and can be interpreted differently by different individuals. Crowdsourced content might not always cover the entire spectrum of perspectives or might inadvertently omit certain important aspects. Skepticism Younger generations are also becoming more discerning consumers of information. If they perceive the crowdsourcing efforts as insincere or driven by marketing motives rather than genuine concern for sustainability, it might backfire. Sustainability Commitment If the crowdsourcing initiative is not backed by a genuine commitment to sustainable practices within the organization initiating it, it could undermine the credibility of the messaging. In summary, the success of communicating ESG topics through a crowdsourcing platform is possible, but it requires a thoughtful and well-executed approach. Authenticity, engagement, education, and the involvement of influencers can all contribute positively. However, addressing challenges related to content quality, information accuracy, and aligning with the values of the younger generations is crucial for achieving meaningful and lasting impact..

[Audio] https://www.theverge.com/22749341/smartphones-future-predictions.