Euromonitor International – an independent international strategic market research company – has identified the new consumer trends gaining momentum this year. This information will help players in different markets track changes in consumer moods, values, priorities and behavior and improve by creating new, relevant products and services for them.
TREND No. 1 «I WANT IT NOW!»
Consumers are looking for seamless digital experiences that fit their lifestyle and free up more time for their professional and social lives. However, they are concerned about how user data is managed and accessed by companies. Public trust in this access and how it will be used in the future will determine how long this trend lasts.
TREND No. 2 «WE ARE ALL EXPERTS»
This trend shows a shift in power from seller to consumer. In the past, buyers relied on a particular brand or source of information to get what they wanted. Now companies have to constantly innovate, cut prices and optimize their offers to attract buyers. At the heart of this trend is people's compulsive need to consume and share information. That is why all brands need to adapt to consumers' new needs to stay relevant.
TREND No. 3 «I CAN LOOK AFTER MYSELF»
The trend focuses on preventive measures against illness, problems and discomfort that people can take without seeing a professional. This involves creating unique, personalized products that do not require constant interaction. The ability to take care of oneself is seen as a luxury that allows people to be more versatile and expand their possibilities. Personalizing life allows consumers to be more flexible.
TREND No. 4 «BACK TO BASICS FOR STATUS»
Consumers are looking for distinctive, differentiated products and experiences that let them express their individuality. They are reconsidering their buying habits, moving from materialism to simplicity and individuality. In the future, consumers are likely to tire of unbranded goods and prefer higher-quality, unique and differentiated offers associated with a certain status.
TREND No. 5 «A PLASTIC-FREE WORLD»
Society's desire for a world free of plastic waste has grown stronger recently. Plastic is being boycotted because of the pollutants it contains. People will increasingly avoid products containing plastic, which in turn may encourage brands to stop using this material and thereby strengthen consumer loyalty.
TREND No. 6 «THE CONSCIOUS CONSUMER»
Today's consumers are flexible and make conscious choices. Loyalty that used to go only to specific niche producers now extends to mainstream companies offering decent alternatives to existing products. Conscious consumers influence the choices of others. This includes concern for animal welfare, which applies not only to food but also to beauty and fashion, household goods, home furnishings, pet food and so on. The meaning of responsible business is changing, and companies are raising animal welfare standards even when developing ordinary products.
TREND No. 7 «REDISTRIBUTING PERSONAL TIME»
The fear of missing out (FOMO) has given way to a redistribution of personal time, as people find joy in missing out (JOMO). To protect their mental well-being, consumers seeking JOMO want to be more selective about how they spend their time and what they do. This gives them the freedom to think and act, focusing on what they really want and enjoy.
TREND No. 8 «VIRTUALLY TOGETHER»
The spread of high-speed internet everywhere, especially mobile internet, enables real-time interaction and makes it easier to collaborate on large files and tasks. Consumers now expect more productive online interactions. In light of this trend, technological capabilities, their ease of use and the range of things people can do together digitally are all expanding.
TREND No. 9 «LIVING ALONE»
Around the world, the number of single-person households will continue to grow, and baby boomers are expected to make up a significant part of this segment. While the baby boomer generation has a high divorce rate, many younger people are rejecting marriage and cohabitation altogether. This is driving a new trend – living alone. People around the world are challenging the social stereotype of living as a couple, embracing an independent lifestyle and enjoying solitude.
TREND No. 10 «AGELESS CONSUMERS»
Ageless consumers do not want to conform to demographic expectations. The key to winning and keeping their loyalty is to develop universal products and services, even if they are intended for older people. The main trends are universality and hospitality, self-care, a focus on prevention and enjoying life, and a balance of mind, spirit and body.
Source: Euromonitor International