Each year, Euromonitor analysts identify ten leading trends in a format that includes a market overview highlighting defining characteristics, consumer behavior and motivation, prospects and strategic recommendations for market players.
Top 10 global consumer trends 2021
Analytical agency Euromonitor International has published a global survey of the market conditions for goods and services, organizing data in the form of a top of ten key consumer trends.
1. Social responsibility. Consumers expect companies to focus not only on growing their own income, but also on protecting the interests of society and the planet. Environmental damage and ethnic inequality are problems that must be addressed, among other things, by companies producing goods and service.
2. Convenience. The trend is to pay attention to the client as a whole: whether it is the availability of parking, equipped fitting rooms, a soft lounge area , the presence of outlets and the offer of welcome drinks or clear navigation on the website of an online store , fast and polite communication, omnichannel.
3. Proximity to nature. It consists of minimization of damage from production is the literal pastime in the fresh air. In line with this trend, we can note the activation of outdoor brands that have moved from the category of protective workwear to premium and luxury segments.
4. "Phygital" - the blurring of the border between physical and digital spaces. In addition to omnichannel, which is already broadcast today as a prerequisite for the existence of a brand on the market, this trend includes: interactive fitting rooms, a QR code by which all information about the product life cycle can be read, virtual displays, 3D brand presentations not only in the B2B segment for buyers, but also in B2C for a large audience.
5. Politicizing brands. Companies can no longer stay on the sidelines of political upheaval, most consumers say. Moreover, this trend calls for the company to clear the game on the market. Customers expect facts from brands, not slogans.
6. Scheduling flexibility. Over the past year, the majority of consumers have changed, by force or on their own initiative, their life schedule. And they are waiting for the appropriate adaptation from retailers. Whether it is delivery to a country house or remote service not according to the set timing of the working day from 10 to 18 hours, but within 24 hours.
7. Absolutization of the value of hygiene. Masks and disinfectants have become part of our reality, but this was not enough for a feeling of total security. Companies from now on must ensure safety not only in the direct zone of direct contact with customers, but also demonstrate a responsible and safe approach during the production of garments, processing fabrics, as well as transporting goods to the warehouse.
8. Culmination of a hobby and an increase in the demand for self-development. Being forced to stay at home has brought consumers back to the need for handicraft hobbies. Fashion companies can interpret this trend with the help of fashion boxes that have already appeared on the market , or, in other words, do-it-yourself kits.
9. Frugality. Behind it are both the growth of uncertainty in the world, and as a consequence, a decrease in their own financial confidence, and an increase in the level of consciousness of consumption. The discounter sector recorded a global sales growth of 10%.
10. Working outside the office. Remote work is highlighted as a separate trend in consumer behavior, since the absence of the need to go to the office, on the one hand, frees up time for shopping in the shopping center with a passing stop with a laptop in a cafe to perform work duties, and on the other hand, it deprives the motivation to “go to buy something " after work.
April 23, 2021