Consumer trends are reflecting the current state of uncertainty and the challenges businesses face to deliver services and goods.
These are the key influences shaping our year, according to global business intelligence firm Euromonitor International.
Are businesses on trend?
Backup Planners
As supply chain disruptions continue to impact purchasing capacity, consumers will find creative solutions to buying their favourite products.
Climate Changers
Eco-anxiety and the climate emergency are pushing environmental activism towards a net-zero economy. Last year just over a third (35%) of global consumers curtailed their carbon emissions.
Digital Seniors
Mature-age consumers are increasingly competent users of technology. Online solutions need to meet the demands of this growing audience.
Financial Aficionados
Consumers are strengthening their financial literacy and security. Now more than half of the world’s consumers are confident they will be better off financially in the next five years.
The Great Life Refresh
There’s a new focus on personal growth and wellbeing, and consumers are taking bold life changes that reflect their values, passions and purpose.
The Metaverse Movement
Immersive, 3D digital ecosystems begin to transform social connections. Around the worldl sales of AR/VR headsets grew 56 per cent from 2017 to 2021.
Pursuit of Preloved
Secondhand shopping and peer-to-peer marketplaces flourish as consumers embrace the unique, affordable and sustainable.
Rural Urbanites
The tree or sea change continues as people relocate to safer, cleaner and greener neighbourhoods.
Self-Love Seekers
Lifestyles embracing authenticity, acceptance and inclusion bring new spending habits.
The Socialisation Paradox
It’s all different now. In 2021, 76 per cent of global consumers took health and safety precautions when leaving home and the pandemic uncertainty continues.
Alison Angus, head of lifestyles at Euromonitor International, says “Businesses need to transform alongside rapidly evolving consumer preferences. Reverting to a pre-pandemic playbook will not likely generate the same results moving forward.”
Source: Euromonitor International Top 10 Global Consumer Trends report 2022.