Maria is a senior behavioural analyst at Canvas8. After completing her Master's degree in Social and Cultural Psychology, she delved into the world of research. Her experience ranges from behavioural science and design research to cultural insights. She loves asking questions, so naturally she specialised in qualitative research. In her free time, she likes to do all the usual things (from watching movies to hanging out with friends), plus playing ultimate frisbee and running long distance.

In the turbulent economic environment, money is losing its value. Consumers are reevaluating their spending across sectors. With a looming crisis of trust in financial institutions, how are people managing their budgets? And how can brands navigate the complex relationship between value and cost?

Critical Spenders

Speed and convenience have become the consumer norm. Since the COVID-19 pandemic, when people worldwide were introduced to instant access to goods and services via apps and digital platforms, the supply and demand considerably grew and splintered. The 'I need it now' culture shows no signs of slowing down, yet the complexity around it is becoming more apparent.

Hyper-fast digital services appeal because they fulfil a ballooning desire for instant gratification – contemporary convenience hinges on easy-to-use interfaces that help consumers seamlessly meet their needs. However, the mechanics of consumerism are complex. People are becoming aware of global supply chains, especially in the wake of wars and escalating global conflict. As many brands are cracking down on immediacy (introducing higher delivery fees or offering it as a premium), people are turning to local and smaller-scale shopping for more mindful, slower, grounded spending.

The cost of living crisis makes people reconsider which of their needs are truly immediate, but it's not the only reason some crave a slowdown. The hyper-fast society enables our desires to be fulfilled instantly but might be too fast for our mental health. While convenience used to be a cool thing to have, now it has become essential to function in the current attention economy. People are tormented by a lack of patience and chronic dependency on stimulation from platforms like TikTok – yet the rewards of convenience easily outweigh the concerns.

Compulsive Convenience

Germany

General food

Restaurants and takeaways

Eating and Drinking

Travel and Leisure

German food-tech startup Freda is gaining momentum, offering premium frozen meals that address people’s desires for convenience and low costs without compromising quality. Brands have an opportunity to balance this expansion with the more symbolic aspects of dining - from community to indulgence.