In economic terms, the year has been defined by uncertainty, and consumers have reacted to this by reducing expenditure – with growth in global consumer expenditure slowing to 2.4% in real terms – the lowest rate of growth since the financial crisis. We’re seeing consumers reassess their priorities and increasingly asking themselves what they truly value. They are placing green concerns at the core of their wellbeing and we’re finding that time is increasingly becoming currency, with consumers ready to buy time to find balance. “Mobile first” lifestyles continue to reign supreme, underpinning a commerce revolution.
Read the most popular content on Passport Consumers in 2016:
Top 10 Global Consumer Trends for 2016
Consumption in 2016 is an interesting blend of established and new trends with countertrends, which are challenging ways of living and buying. As digital life retains its grip, and more shop for greater control of their lives though smart devices, a growing band of consumers—are signposting the downsides. Consumers are challenging gender stereotypes and the consumption that shapes them. “Agnostic shoppers” are disregarding loyalty to labels, “perfect produce” and best-before dates, as they search for innovative routes to value. Thrifty shopping maintains its appeal, but discount love is not total love. Downturns in many countries are also boosting savvier, local shopping. Creative, single spenders are fusing the consumption of luxury with counterculture. Health consciousness has millions more wanting to eat greener, healthier and more local food, with fast food chains starting to respond. The meaning of ‘natural’ food is the subject of debate, while food waste is increasingly off the menu. The fascination with mental wellbeing reveals consumers are looking beyond physical fitness in striving for optimal health.
Lifestyles 2016: New Survey Insights and System Refresher
Euromonitor International’s Global Consumer Trends surveys help companies stay ahead of a fast-changing consumer landscape by reaching out to internet-connected consumers from across the globe, then translating the results into comprehensive analysis and actionable opportunities. Key trends in 2016 include:
- Ingredient selectivity on the rise
- Green concerns centre on self, family
- Continued growth of “mobile first” lifestyles
- Consumers buy time to find balance
The New Consumerism: Redefining Ownership, Values and Priorities
As consumers reassess their priorities and increasingly ask themselves what they truly value, a host of major consumer trends have emerged: from the sharing economy to the preference given to experience over possessions, to frugal innovation and trading up and down. This shift towards new priorities, which we have christened “The New Consumerism”, is impacting across a multitude of industry sectors and has the power to transform even the most established markets. We will be using all aspects of Passport to help explore this area of consumer behaviour and its impact on business in a wide ranging series of articles and reports, starting with our new strategy briefing: The New Consumerism: Redefining Ownership, Values and Priorities.
2016 Digital Consumer Index: Identifying the Next Digital Frontiers
In order to assist companies with identifying which geographic markets are the most digitally attractive and offer the best prospects for future deployment of digital initiatives, Euromonitor International developed the Digital Consumer Index. This tool pinpoints a country’s relative digital standing at present, as well as offering forecasts for where it is expected to be five years from now. Leveraging more than 2,500 data points from Passport, Euromonitor International’s syndicated research platform, the Digital Consumer Index will assist clients with market prioritisation for all digital initiatives, including digital commerce.
New Approaches to Wellness and Global Market Impact
The optimisation of wellness is high on the agenda across much of the world, as consumers take a new, integrated approach to taking care of their bodies and minds. This global report, New Approaches to Wellness and Global Market Impact, takes a look at current approaches to health and fitness and their impact on sales of diverse markets including health foods, sportswear and wearable electronics.
Affordable Luxury in Emerging and Developing Markets and the Impact
With rising incomes and greater exposure to Western cultures, the habits, tastes and needs of the new middle class emerging market consumer are evolving, with shoppers seeking aspirational, quality brands at the best prices. Following on from April's Strategy Briefing on The Quest for Value in Developed Markets and Market Impact, this new report identifies opportunities for growth in the “affordable luxury” segment in emerging and developing countries, spanning products and services ranging from packaged foods and foodservice to fashion and electronics.
The New Connected Consumer Code: Unlocking Digital Commerce Opportunities
Technological advances are forever altering the way that consumers all around the world browse and buy all types of products and services. Learn how this increased connectivity is underpinning a commerce revolution and discover new markets to explore based on the consumers and industries propelling this digital storyline forward in each respective market.
How We Eat: The Changing Face of Global Mealtimes
Consumers’ eating patterns have undergone fundamental changes, shifting from traditional family meals to a more fragmented and flexible eating style, encompassing multiple small meals, often eaten on the go or alone. This global report looks at how the way we eat has changed, and what implications this has for the food we choose to eat.
Spending Habits of Global Mid-Lifers and Impact on Consumer Markets
Mid-lifers (aged 45-59 years), who account for 16% of the world’s population, form an affluent and growing consumer base. While they may be at different life stages, many are still at their peak earning power, or are “empty nesters” enjoying a newfound sense of freedom. This second of two global reports focuses on the buying behaviour of mid-lifers and their impact on some of the markets they influence, including travel, health and wellness, beauty and apparel.
Households in 2030
Households are changing rapidly in terms of size, location and demographics. By 2030, the global household outlook will be much different compared to today, as technology, urbanisation and economics reshape the behavioral patterns of inhabitants and create new channels of access to consumers. The rise of single person homes, the impact of newly urbanised households on consumption, and maturing home digitalization are some of the major trends going forward. Our new Strategy Briefing: Households in 2030 assesses the primary trends affecting households in the next 15 years and their impact on consumption, both in terms of opportunities and challenges.
