Read on for the top ten global consumer trends released by Euromonitor International, which are expected to gain traction in 2019-20. Each of these trends have been analysed on the following components:
Trend-specific characteristics
How the trend manifests itself
Environment
Behaviour and motivation
Industry responses
Expert view
Long-term impact
These trends provide insight into consumers’ changing values and explore how their behaviour is disrupting the business globally. The top 10 global consumer trends revealed this year are:
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. Later lifers are in better nancial shape than the rest of the population, boasting the highest spending power among all age groups. This high average income level of these two age groups will grow 26 percent and 22 percent respectively, through to 2025, making this demographic a highly pro table target group for marketing discretionary purchases.
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. Trends in food and drink perfectly re ect the shift of ‘Back to Basics for Status’. Buying hyperlocal food is growing in popularity for a range of reasons including that it supports local businesses, food is fresher and tastes better, it reduces the environmental impact by eliminating ‘food miles’ and may offer better value for money as it encourages the consumption of in-season fruit and vegetables.
Conscious Consumer
This story is from the December 2019 edition of Images Retail.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 2019 edition of Images Retail.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Here's How India Shops Online
Over 60% of people prefer shopping via apps over websites with a clear preference for marketplace apps
Why Are More And More Retail Brands Advertising Online?
Returns on investment ranging from 2%-10% from their digital ad spends is just one of the reasons why brands and retailers across categories are taking to online advertising
Mini Mall, Mega Experiences
Lulu Group’s first mini mall brings the best of retail to the aspiring consumers of the tier 3 town of Palakkad in Kerala
How Daalchini is Spicing up Micro Retail in India
Through its smart vending machines, the Noida-based company is offering 24/7 convenience to customers, reach to over 200 brands and new business opportunities to entrepreneurs
AI, Cloud and SaaS Play a Pivotal Role for Banjaaran Studio
Banjaaran Studio’s founder Meera Dureja on the brand story, business model and adding a modern touch to traditional shoemaking
How Myntra, Amazon, Shoppers Stop, Peesafe & Indiamart are Using AI for CX
From improving product recommendations and personalised fit suggestions to delivery, here’s how retail biggies are using artificial intelligence to offer delightful customer experiences
Store Launches Surge 23% in Feb
While the number of store openings increased, fundraises in the month dropped significantly
The Government Realises the Importance of Domestic Market
Rahul Mehta, Chief Mentor of CMAI on Indiasize, the government’s focus on domestic retail, industry’s asks and more
In 3 years, PepsiCo India Doubled its Previous 30-year Capacity
As the director of channel, customer and go-to-market (GTM) development for PepsiCo India, Anand Mohan Sharma has anger on the pulse of India’s consumption story—especially in the food and beverage segment.
A Look at the Indian Athleisure Market Play
The dimensions, driving forces, and potential of the Indian athleisure market