With a focus on the home and garden, beauty and personal care and food and beverage industries, our client sought to have a collaborative and thought-provoking Future Trends Workshop. Their goal was to understand and decipher megatrends and how they will impact their business. Additionally, the client wanted Euromonitor to identify newly forming trends and intersections impacting and shaping the home and beauty space in the next five years.
Our client hoped to understand the needs of the consumer in 2020, helping lead to new opportunities in the future.
Our network of consultants, analysts and industry experts identified five mega-trends impacting the home and beauty industries over the next five years. We addressed the expected evolution of trends for that period, their overlap and the drivers behind these trends.
By using secondary research and internal interviews with our in-house experts, we uncovered a combination of data and insights and connected them to our client’s packaging business. Euromonitor International analysed the impact of trends in the beauty space, variances related to specific demographics and product segments. Our team ultimately ranked trends in order of importance for our client to better focus their strategy.
Euromonitor also conducted a half-day seminar that included illustrative presentations, collaborative engagement and shared products to highlight trends and their expected impact on their business. Through different activities, participants answered questions and provided input. The outcome was a filtered list of trends that present viable and disruptive opportunities for our client.
Our research directly influenced our client’s innovation plans and business strategy by reallocating resources on trends rather than products or markets. We also supported our client’s broader vision to instil a culture of innovation and creative thinking.