Consumers in developed economies are rejecting the mass-produced and generic and favouring products positioned as simplified, back to basics and of better quality, with an implied level of status.
Trends in food and beverage perfectly reflect the shift to Back to Basics for Status, a top global consumer trend for 2019. 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.
The trend is mirrored in other categories too (Age Agnostic), including beauty and the travel industry. According to Euromonitor’s 2018 Beauty Insights Survey, 29% of consumers are looking for all-natural ingredients skin care products, while ingredient transparency is sought by 19% of consumers. On the travel side, since 2016, Airbnb has offered Experiences, reflecting the growing desire for authentic travel as an alternative to the package holiday. Less widely known is Mauritius Conscious, offering eco-friendly glamping, with the chance to taste local food and drink, meet local people and immerse travellers in island culture, while ensuring that no harm is done to the environment.
For more insights into changing consumer values and priorities and their impact and how they are disrupting businesses globally download the Top 10 Global Consumer Trends 2019 white paper.