LSN : News : Stat: Pension saving is a low priority across generations

Homeware that mimics childhood comfort

My Second Childhood by Yali Paz

Israel – Yali Paz, a product design student from the Bezalel Academy of Arts and Design, is stimulating feelings of comfort through a series of soft beanbags designed for hugging. Taking inspiration from the sensation of being cradled as a child, the cocoon-like structure enables a rocking motion, while a soft-shell recess allows for self-hugging.

By mimicking a familiar sense of human embrace through furniture, the project – called My Second Childhood – reflects the growing need for self-healing in the inter-Covid era. And with many still feeling cautious about physical touch, such projects cater to the demand for intimate moments as we come out of a period of prolonged isolation.

More generally, the impact of the pandemic encouraged people to reassess their home environments and the ways that interior design choices can impact their wellbeing. From connected furniture to augmented isolation, we’ve explored the innovations that are supporting physical and mental health through Fulfillment Furnishings.

Strategic opportunity

Designers working with textiles and furnishings have an opportunity to elevate the emotional impact of their products with comforting tactile elements. Beyond interiors, consider how items of clothing could create a similar sensation of human embrace

Everdaily’s all-purpose solution simplifies sustainable cleaning

Everdaily, New Zealand

New Zealand – Responding to the wastefulness of the cleaning product industry, home cleaner brand Everdaily is empowering consumers with a sustainable all-in-one solution.

Its first launch features two concentrate cleaners that can be used for all purposes when mixed with water. The packaging features intelligent design cues by design agency Marx Design, highlighting the suggested ratio of cleaning product to water for different needs, for example 1:5 on the bathroom spray bottle indicates one-fifth of concentrate to four-fifths water.

Everdaily is creating a simple and accessible approach to eco-conscious home cleaning, allowing users to buy minimal products for multiple uses. Elsewhere, we’ve previously identified how cleaning brands such as Blueland are offering waterless solutions and re-usable packaging. Looking to other sectors, we’ve also been tracking such sustainable initiatives in the beauty industry. Alongside highlighting the growing potential for waterless products, we’ve explored how beauty brands are similarly using packaging to educate consumers.

Strategic opportunity

FMCG brands must recognise the wastefulness of traditional packaging design. Take cues from Everdaily and reflect on ways you can create sustainable innovations that support consumers in making more eco-conscious decisions

Edition roots luxury media in diversity

Global – Entertainment company Roc Nation and global publishing company Modern Luxury Media are partnering to launch a disruptive multimedia platform called Edition. Subverting conventions around luxury communication, the platform will amplify diverse voices that are shaping popular culture. Launching later this year, it will showcase print, digital, social and experiential activations.

While the luxury sector can often be restrictive in its showcasing of global talent, Edition is using its reach to spotlight underrepresented communities. ‘Historically, luxury titles have lacked diverse coverage,’ comments John Amato, principal at Modern Luxury Media. ‘This is an unfortunate truth and as leaders and owners in media, it's our privilege and opportunity to defy the status quo and ensure we are providing a platform for diverse communities to connect.’

Here, the media title provides an example of how heritage is being refashioned from the inside out, as a new generation of disruptors comes to the fore to reframe the luxury market.

Edition by Modern Luxury

Strategic opportunity

When creating new products and services, the luxury sector has a responsibility to break away from its colonial connotations. To go beyond tokenistic efforts, consider long-term partnerships with luxury creatives from underserved communities

Stat: Pension saving is a low priority across generations

Hipcamp, US

Across generations, people are prioritising their saving for short and mid-term goals rather than long-term pension plans. According to a new report from money.co.uk, Millennials and Generation Z are the least likely cohorts to place pensions as a top saving priority.

Showcasing how travel remains important for many consumers, the report finds that 38% of Millennials consider saving for a holiday as their single biggest financial priority. This is followed by material goods (34%) and saving for a home (30%). Meanwhile, 32% of Generation Z consider saving for a home their top priority. Out of the three generations in the report, Generation X were the only group to consider saving for their pension as a high priority – with 27% stating this as a saving goal.

These findings reflect the changing attitudes of consumers when it comes to planning for the future. As we explore in Pleasure Revolution, more consumers are increasingly seizing the moment and placing enjoyment over enhancement when it comes to life goals. To find out about the brands looking to support consumers with saving plans, look out for upcoming list on Property Ladder Payments.

Strategic opportunity

Fintech brands should incentivise younger savers with services that balance short-term rewards with future investments. Try to integrate engaging features into your digital platforms that allow people to easily quantify their saving progress