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Marketers need to ‘reimagine’ to Australian Dream in order to connect with consumers: Nine

Marketers for real estate, homewares, technology and interior decorating companies need to reimagine the Australian dream if they are to continue to connect with the new generation of home buyers, a study by Nine’s client solutions division 9Powered has claimed.

The research said that despite avocado-gate – the ongoing debate premised on the idea millennials are unable to afford property because of their indulgence in premium goods such as smashed avocado for brunch – the Australian dream remains a powerful marketing construct for brands.

Nine’s latest ‘reality’ program offering capitalises on Australia’s love of property

Nine has two property-focussed reality franchises, with The Block continuing to draw in large audiences 13 seasons into its run and its new offering Buying Blind premiering earlier this month with 608,000 metro viewers.

Marketers do, however, need to become aware of the trend towards sustainability (with over half of new homebuyers wanting to live in an environmentally sustainable way) and away from ‘accumulation’ (with 77% of new home buyers wanting to live in a “calmer and clutter-free environment” and 70% believing you can turn small living spaces into comfortable and liveable homes), the research said.

The perception that “we are living in uncertain times” means marketers should also emphasise safety and security, the study said. In addition, brands should sell ‘homeliness’ – with Nine citing the example technology brands should promote “personalised” homes, rather than “connected” ones to resonate with consumers.

Marketers capitalising on Australia’s love of real estate should also consider younger people’s weariness of being told how to get on the property ladder by older generations, who some believe had it easier – with 45% of aspiring buyers under 40 reporting they are tired of older generations giving them advice on how to save and secure their purchase.

Nine says marketers can still use the ‘Australian dream’

Nine’s director of strategy, Melissa Mullins, said the challenge for marketers was to reframe the Australian dream and acknowledge the changing market dynamics.

“We’ve seen the nation consumed by the avocado-on-toast debate,” she said. “This study shows how the Australian dream remains a powerful marketing construct for brands to tap into, however, for some people – particularly those in younger generations – it is becoming attainable and that is an important consideration for marketers.

“The modern challenge for marketers is to help consumers reimagine the Australian dream. To recognise the compromises or challenges some Australians face when it comes to the property market and look for the opportunities to help meet their aspirations.”

Smart brands, she said, will capitalise on the Australians’ changing expectations and the realities of today’s market.

“If we think about the fact that consumers who are moving and renting as a percentage of the population is increasing, it’s the products that cater to this, like 3M removable hooks, that will do well. They are recognising and meeting the evolving consumer needs of our most transient lifestyle,” she said.

Beware of over-explaining to millennials: Nine

“Four out of 10 new home buyers told us they wanted the latest tech in their homes. The rise of not only devices like smart fridges and lighting, but also the growing consumer take-up of digital assistants such as Google Home and Amazon Alexa, is fundamentally shifting our day-to-day existence in our homes.

“The ramifications of this for brands will be far-reaching as personalisation and ease-of-use become central to almost every part of the business.”

The study was conducted by research firm The Lab Insight & Strategy, with more than 500 respondents.

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