The View From Here
Our teams from six major economies tell us about the events that shaped 2024 in their country, and give their perspectives on what to look out for in 2025.
BRAZIL
A shifting landscape
Amidst the nervousness of the headlines, economic turmoil and media crime that rightly capture the attention of most Brazilians, unseen shifts are taking place at deeper levels, often imperceptible but with the potential to transform in the long term. Just as tectonic plates slowly shape the surface of the planet, these quiet changes are fundamentally reshaping Brazil's social, economic and cultural landscape.
The most relevant concerns for Brazilians continue to be related to basic human needs: crime/violence and healthcare remain the most cited concerns in Ipsos’ What Worries the World study. Brazilians are also particularly concerned about climate change and environmental threats, jaded by a disturbingly increasing number of recent extreme events affecting several regions. Getting through the day is still a worryingly pragmatic task for most citizens.
The inexorable demographic changes, for which Brazil is a poster child, are bringing about profound changes that have just been announced: divorces are on the increase, single-person households have risen to almost 20%, while those headed by women now account for half of all households, and the number of households with same-sex parents has increased by 550% in 12 years. The traditional family of parents and children living together is now officially a minority in the country (45% of all households).
Some global trends are particularly representative of the way most Brazilians think today:
- While 93% use social media (vs. 82% globally), 68% believe that technology will destroy our lives (vs. 57% globally) - which, when you think about it, is not as paradoxical as it seems.
- Lack of perspective and purpose (62% of Brazilians believe they should focus on the present because the future is unpredictable, vs. 46% 10 years ago), which leads to one in four young people (aged 18-24) not studying or working.
- Brands emerge as a potential source of trust, as Brazilians strongly support brands that align with their own values (78%, up +27pp in 10 years).
For a company or a brand to ignore these fundamental social movements could be like building a house on a fault line...
"Just as tectonic plates slowly shape the surface of the planet, these quiet changes are fundamentally reshaping Brazil's social, economic and cultural landscape."
CHINA
A quiet year with subtle changes
2024 has been a relatively quiet year for China, with no major breakthroughs or changes. The economy remains stable, with a growth rate of around 5%, and the Consumer Price Index grew by 0.1% year-on-year in the first half of 2024. In September and October, China introduced the new stimulus package to promote high-quality economic development, and the stock market responded immediately. The business world is also quieter than usual, but with subtle changes that reveal profound trends. Take these three examples:
- A video game called 'Black Myth: Wukong' became a huge hit, selling 20 million copies and earning $961 million in its first month. This surprised many and marked a milestone for China's entertainment industry. Its success highlights a key lesson: cultural resonance through traditional storytelling in a modern format appeals to consumers, especially in China. The game's production by a startup rather than a giant signals a preference for innovation over established companies. This mirrors results from Ipsos’ 2024 Global Trends survey, which shows a high value placed on tradition (86%) and new technology (69%) in China.
- The launch of Xiaomi's SU7 car model in March saw 50,000 bookings in 30 minutes, illustrating China's strong and dynamic Electric Vehicle (EV) sector. In September 2024, China's EV penetration rate exceeded 50% of total vehicle sales. The 2024 Global Trends survey found that 81% of Chinese support switching to electric cars, compared to the global average of 58%. Xiaomi's success reflects the convergence of consumer electronics and automobiles. Its founder, Lei Jun, leveraged his 33 million TikTok followers to raise the profile of the NEV sector, prompting other brands to rethink their marketing strategies.
- After a decade of soaring e-commerce, offline retail is making a comeback. Miniso exemplifies this with its shift from $1.50 products to IP-partnered items, increasing emotional value and margins. The company has grown steadily, opening larger stores and expanding internationally. In landmark overseas locations, 80% of sales come from IP products. Recently, Miniso acquired Yonghui, a major Chinese supermarket, aiming to emulate the Costco model with superior services and experiences, signalling its belief in retail growth.
The three examples above may not seem as significant as those of recent years, but behind the subtle signals are some fundamental shifts in consumer attitudes and behaviour that will reshape the business landscape for the next decade.
"China introduced the new stimulus package to promote high-quality economic development, and the stock market responded immediately."
FRANCE
Populism, economic strains, and evolving consumer expectations
The past year in France has been marked by three things: on the political front, the rise of populism; on the economic front, inflation and austerity measures that have affected consumer behaviour and challenged the government; and on the marketing front, new expectations of advertising and brands. We can see the impacts of these developments across many areas:
Change in consumer behaviour
Due to inflation since 2022, consumers have cut back on essential spending, favouring hard discount distributors such as Shein and Temu, and alternatives such as second-hand goods. In a context of rising taxes and constraints, the French are not expected to return to previous habits, a shift that challenges traditional and mid-range brands.
Ecology vs. economy
Given the pressure on public finances, the energy transition risks being the big loser in the 'ecology vs. economy' debate. Pension funding, social protection, the army, etc., are seen as priorities. And without investment in renewable energy, France will not be able to decarbonise its economy or meet European targets for 2030, while remaining dependent on fossil fuel imports.
Antidotes to gloom
The winners of the 2024 Cannes Lions show that the more difficult the context becomes, the more brands need to position themselves as antidotes to gloom. The winning ads resonate with the nouveau nihilism, with more French people adopting a 'YOLO' (You Only Live Once) vision of consumption, because "the important thing is to enjoy life today, tomorrow is another day", an idea shared by 68% in 2024, up 10 points compared to 2013 (Ipsos Global Trends).
Sharing experiences – an opportunity for brands
Despite the gloom, people crave experiences, togetherness and special moments. The Paris Olympic Games responded to this with a real before-and-after effect: while the French were ranked 28th out of 33 countries in terms of interest a few weeks before the Games, afterwards 65% had a positive opinion of the Games and 66% thought that they had a positive impact on France's image in the world. This should encourage brands to sponsor more major events (concerts, competitions, e-sports etc.), both to be associated with exceptional moments and to connect with new generations.
"More French people [are] adopting a 'YOLO' (You Only Live Once) vision of consumption, because 'the important thing is to enjoy life today, tomorrow is another day', an idea shared by 68% in 2024 (+10 points from 2013)".
INDIA
A work in progress
Across India, there are endless signs warning of inconveniences caused by ongoing infrastructure work for new airports, railway stations, metros and roads. This is not surprising. In 2024, the Indian government has committed to spending EUR 125 billion to improve India’s hugely strained infrastructure in more than 5,000 towns and 700,000 villages. This notion of 'building something great for the future at the cost of being inconvenienced today' captures the Indian ethos.
There is a great sense of optimism prevailing across the country. In the October 2024 wave of Ipsos’ Global Consumer Confidence Study, India topped the list of 29 countries. Similarly, in the October wave of Ipsos’ What Worries the World study, 72% of urban Indians feel that their country is moving in the right direction, ranking India second out of 29 countries. This optimism is driving India to become the fastest growing major economy in 2024, a GDP growth rate of 7%.
Indians are willing to suffer inconvenience for the powerful lure of a better tomorrow. Constant traffic jams, pollution exposure, growing mental health problems and early career burn outs are just some of the manifestations of keeping up with the proverbial Kumars next door.
The India data from Ipsos' Global Trends 2024 reveals some concerns in this regard. We're seeing the rise of 'nouveau nihilism' – characterised by individualism and a lack of concern for what's happening around us. Another worrying trend is the decline of climate convergence, with individualistic and materialistic pursuits taking precedence over concern for the climate.
All in all, the India of 2024 is one of the most positive, optimistic and joie de vivre countries. Let's hope Indians enjoy the journey to a brighter future as much as the destination itself. Sometimes it makes sense to stop and smell the roses, even if you are more likely to smell polluted air while India is a work in progress!
“All in all, the India of 2024 is one of the most positive, optimistic and joie de vivre countries.”
UNITED KINGDOM
A year of milestones and discontent
2024 has been a year of contrasts for the UK, marked by positive milestones and significant challenges. We achieved a major environmental goal, ending coal use for electricity generation after 142 years. However, public dissatisfaction with the National Health Service reached its highest recorded level in four decades. Wider discontent with the state of the nation culminated in widespread rioting in August, fed by online disinformation about asylum seekers and the struggle to manage illegal immigration across the English Channel.
Despite these difficulties, the UK ranks 10th out of 30 countries in the Ipsos Happiness Index; three-quarters of Britons reporting being happy. This paradox may be explained by our powerful interest in nostalgia, exemplified by overwhelming public interest in tickets for the reunion of Oasis, a 'Britpop' band from the 1990s and 2000s. Nostalgia can also be seen in our politics through the Labour Party's landslide election victory, their first since 2005. This win, however, rests on the fragile foundations of just 33.7% of votes cast, highlighting our significant electoral volatility and the current government’s surprisingly thin mandate.
Labour's post-election 'honeymoon' period was very short-lived, with public concern rising even before a budget that increased taxes and borrowing. The increasing importance of immigration, evidenced by public disorder and the rise of the right-wing Reform UK party, presents a significant emerging challenge for the new administration.
The government’s ability to demonstrate quick improvements in public services and economic growth will be crucial for maintaining public support and helping the UK public to balance its tendency towards nostalgia with belief in a better future. Despite a national tendency towards pessimism, the UK has a strong international brand, ranking fourth in the Anholt-Ipsos Nation Brands Index. The country's cultural influence, particularly its history, heritage, and the Royal Family, remains a significant asset. This perception is very useful for UK businesses that export to the world, with 52% saying that Britain’s brand helps them to grow and increase sales.
Looking ahead to 2025, businesses and the government must deliver on the promise of change, demonstrating responsiveness to public concerns. While economic perceptions remain pessimistic, there are signs of a potential shift towards greater optimism. Increased trust in various societal figures, from professors to the 'ordinary person', suggests a possible change in mindset. 2025 will reveal whether the events of 2024 serve as stepping stones towards a more positive future for the UK.
"Despite difficulties, the UK ranks 10th out of 30 countries in the Ipsos Happiness Index; three-quarters of Britons reporting being happy."
UNITED STATES
A year of economic perception and misperception
How is the US economy doing? The answer you get to that question depends on who you ask. The nation is nailing the 'soft landing' most thought impossible: Avoiding a recession as inflation eased, as the unemployment rate remained low and consumer spending (worryingly fueled by debt) chugged along. The stock market whip-sawed at times but largely surged ahead. Bitcoin roared back to life. GLP-1 drugs and GPTs fueled a 'G-whiz' focus on tech disruption. For most of the year, economists would say the economy held on pretty well.
But economists aren’t a very big part of the electorate. Outside the halls of banking and academia, slowing inflation was cold comfort: The prices people paid for groceries, rent and mortgages stayed inflated, and the damage was done. Indeed, the economy was the top concern in the US data for What Worries the World. Ipsos polling showed it was top of mind for voters, and that candidate Trump outperformed his rivals on the key issue. His return to power might be shocking to some, but shouldn’t be surprising.
So what’s next? President-elect Trump has floated policies like steep tariffs, especially on China, could reshape the local and global economies. Economists are concerned. His campaign-trail promises of 'retribution' could affect corporate America, even as Ipsos Global Trends shows that people are looking for brands and companies to lead on issues and shoppers have a 20-point increase over the last ten years in saying they want to buy brands that reflect their values. The Ipsos US Consumer Tracker shows a very positive outlook from republican voters, 64% of whom report more confidence in their ability to pay their monthly bills (vs 18% of democrats) and grow their savings (71% vs 17%).
Regardless of whether you think the end result is good or bad, you must understand that Trump is a master of attention, aiming to channel America's anti-establishment sentiment today: A different government; different media; and different tone. The addition of Elon Musk to the transition opens new horizons of possibilities for what a second Trump administration could achieve.
American policy and brand leaders need to stay close to their consumers and constituents who will be impacted by both change and uncertainty. The rest of the globe will be watching and reacting in real time.
Do you know this new America in all its colors and contours?
"American policy and brand leaders need to stay close to their consumers and constituents who will be impacted by both change and uncertainty."