Euromonitor’s top ten consumer trends for this year:
1. Spending on convenience nudging into the quest for value
The recessionary consumer’s dislike of paying for convenience is softening. Consumers are tempted by bite-sized brand offerings aimed at emerging and now developed market shoppers and greater novelty and superior niche services. Consumer reviews also cut the risk of trying something new.
2. Crowded house redux
Multigenerational and other combined living arrangements are leading to shifting consumption patterns as the ‘floating generation’ stay or return home to economise while peers and even separated couples are forced to cohabit.
3. Downtime decoded
Digital life is making ‘leisure’ harder to define and even as ‘digital detox’ periods are shared digitally, holidaymakers are ‘smoasting’ – using social networking to boast about their holiday fun. Meanwhile health-conscious consumers are working hard to stay fit.
4. Food - more than a life staple
Food is now celebrated, avoided, greener, healthier, grown in more urban spaces and hopefully safer.
5. Gendered consumption RIP?
Gender-specific consumption and outlooks may be fading – apparent in everything from unisex tech preferences, to new gaming audiences and traditionally female behaviour feted in business situations.
6. Local love
Things local are capturing the consumer imagination as more prosocial consumers (those who care about others and society as a whole) reject ‘burbiness’ (a term that reflects commercialism and the prevalence of chain stores) and global brands court local cultural relevance and tastes.
7. Older and off to work and train
More tech-savvy, active and image-conscious older consumers need and want to work and spend comfortably for longer as more governments and firms are raising or abolishing retirement thresholds.
8. Parenting lifestyles
Parents buying to suit themselves and tomorrow’s generation - including ‘shopturnals’, yummy mummies, parents befriending their teens online, stay-at-home dads, ‘tiger mothers’, ‘idle parents’, parent bloggers and gifts in lieu of time spent with kids.
9. Shopping like it’s the future
New tech-driven shopping culture reveals generational faultlines. Brands are focusing on interpreting consumer lifestyles to reach out to customers warming to innovation. ‘Showrooming’, gamification, Facebook’s piloted ‘want’ button and in-store digital information offerings are all part of this trend.
10. The roll call of consumer concerns
A catalogue of often-disparate concerns preoccupies swelling consumer segments. These include bigger peoples’ needs, long tail via the net, the quest for simplicity and the grasp of consumer data as an asset to brands. There are even havens for smokers.