Consumers have learned to seek out speed and convenience, and in doing so have gained time, but there is only so much time available to us. Now we’re seeing needs shift from gaining time to making the most of every minute we have. Everything we do must be a good use of our precious time. Content needs to be short, clicks few and gratification instant; boredom and inconvenience will not be tolerated. This desire to maximise the quality of our time is creating opportunities for brands who place as much value on customers’ time as they do, helping them to enjoy the journey as much as the destination.
Over 80% of all people surveyed agreed that they value time as much as money. Around half of all Millennials and Gen X who did so are managing to act upon it, by refusing to waste time on brands that are slow, boring or inconvenient. Fewer Baby Boomers are achieving the same, representing a large opportunity for brands that can save people time or ensure that time spent is done so very wisely.
Brand Example: BBC Four Goes Slow
BBC Four’s ‘BBC Four Goes Slow’ is a release of long form programmes which encourage consumers to ‘slow down the pace, sit back, relax and enjoy the collection of deliberately unhurried programmes’. The programmes range from listening to the sounds of spring, to watching the time-consuming process of creating a chair. They lack excitement, thrills, plot or heavy editing, and instead they’re long, calming and require minimal attention or effort to stay engaged.