Consumer trends are a key factor in helping businesses in customizing their products to meet their needs. With these trends, businesses are able to transition smoothly from one customer satisfaction to a whole lot more because they are at a better position to provide the desired customer experience to their clients.
Not only are businesses able to meet consumers at their point of need, but also understand reach out to a global market, that is much bigger and diverse.
1. Age Agnostic
Boundaries of old age are shifting. As people live longer and take better care of themselves, older consumers feel and want to be treated as younger.
2. Back to Basics for Status
Shoppers are searching for authentic products and experiences, moving away from overt materialism to simplicity as well as from generic to higher quality products.
3. Conscious Consumer
What used to be the domain of ethically-positioned, niche producers is now being embraced by conventional companies through higher welfare products.
4. Digitally Together
As our digital capabilities and comfort using new technologies grow, so will the potential of what can be created or experienced together, but remotely.
5. Everyone’s an Expert
Whereas previously shoppers relied on a certain brand or information source, now companies must constantly innovate to entice more inquisitive shoppers.
6. Finding My JOMO
The Fear Of Missing Out has now given place to the Joy Of Missing Out. Consumers want to protect their mental wellbeing, disconnecting from technology and prioritizing what they truly want and enjoy doing.
7. I Can Look After Myself
As people become more self-sufficient, they take preventative measures against illness, unhappiness, and discomfort without consulting a professional.
8. I Want a Plastic-free World
The push for a plastic-waste-free society has gained momentum, creating a virtuous circle where businesses gain by improving sustainability.
9. I Want it Now!
Consumers seek instant gratification and frictionless experiences that mesh with their lifestyles, allowing them to dedicate more time to their professional or social lives.
10. Loner Living
More people especially older consumers – across the world break the stigma of living alone and embrace their independent lifestyles.
“Intelligence is the common thread linking all trends in 2019. In a world full of choices, consumers’ needs and wants are fast-changing,” comments Gina Westbrook, director of lifestyles at Euromonitor International
Consumers are as busy as ever. They are beginning to expect more from companies and want products and services delivered as quickly and simply as possible. Want it Now! consumers seek frictionless experiences that mesh with their lifestyles.
Technology, especially the adoption of apps, will continue to drive this trend. Consumers are adopting apps that help them organize their lives and are especially intrigued by innovations that help them avoid queues, reduce waiting time, and synchronize their personal information and preferences.
Source: Euromonitor International