FMCG Gurus: Top Ten Trends In 2023

For the third year in a row, consumers will enter the New Year in a high state of uncertainty.

- Mike Hughes

This time it is not worry over the course of the pandemic, but the economic downturn and rising cost of living that people are facing. This result in consumers wanting to continue to seek out products that satisfy various needs, while at the same time, engaging in recessionary shopping habits and being more attentive to value. The key implication of this is that consumers will be reluctant to give up products that they deem essential and small luxuries but at the same time, must be more mindful of spend. FMCG Gurus has launched its Top Ten Trends for 2023, highlighting opportunities to enhance perceptions of value.

The first trend for 2023 is Inflationary Driven and focuses on how consumers are looking to make their money go further without sacrificing their need states, such as becoming less brand loyal and shopping around, being more resourceful, and looking to save money on certain products to spend more elsewhere. It must be remembered that few households have adequate savings, meaning any deterioration in the economy, financial well-being, or job security will hit many people hard and fast, meaning brands must be seen to be as responsive as possible. While consumers accept some form of compromise over the next twelve months, value will be more important than the cheapest price when seeking out products.