During his presentation at IFA’s IMB event held on July 6th in Berlin, Norbert Herzog — Head of Global Strategic Insights at GfK — delved into the dynamic consumer and market landscape amid the backdrop of a polycrisis. 

Herzog provided insights into the impressive consumer tech sales performance of 2023, surpassing pre-pandemic levels.  

He shed light on the key factors driving this success and highlighted the significance of trust in brands, sustainability, and a customer-centric approach tailored to individual needs. These critical success factors have significantly influenced consumer behavior, shaping the current market landscape. 

Herzog also talked about circular economy, its importance and impact.  

Through his presentation, Herzog enlightened us about the evolving dynamics of consumer decision-making. His insights helped us understand how brands can proactively respond to the changing expectations of conscious consumers by fostering trust and transparency. By building these essential elements, brands can effectively meet the evolving demands of the market and establish long-lasting relationships with their customers. 

This, however, is just an overview of Herzog’s presentation, if you want to see the full thing, you can download it here. 

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