The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Consumers are becoming increasingly connected. While connectivity first spread through developed markets, the growth of affordable mobile technology has enabled consumers in the developing world to come online. This is underpinning generational shifts in how they live, work, shop and play. Connected Consumers benefit from access to the world’s digital nervous system and as billions become connected, new social and economic possibilities are developing and in some cases proliferating.
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As of 2017, 45% of the global population uses the internet. Euromonitor International predicts that 76% will have access by 2030. The internet has been one of the most transformative innovations of the modern era.
Consumers leverage connectivity for purposes such as entertainment, education, knowledge, social sharing and shopping. This connectivity has disrupted –and arguably improved upon –many earlier structures.
Digital connectivity has been the great societal equaliser, enabling companies to reach new geographies and consumers with their offerings. Nevertheless, it is important to note that what it means to be a Connected Consumer varies, due to huge gulfs in income and internet quality globally.
Data is now considered one of the most important commodities. An explosion of consumer data has enabled companies to more easily forge one-on-one relationships with end-consumers, by offering tailored experiences and recommendations.
Internet connectivity and tools such as social media built on top of this connectivity have given consumers a more prominent voice in business exchanges.
The continued automation of the purchasing decision will redefine what brand equity means in the digital era.
Digital connectivity continues to alter methods of doing business. Industry lines are blurring. New forms of competition are emerging, including overnight start-up sensations. Unanticipated digitally-inspired business models are emerging.
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About the Megatrends Series
Our new Megatrends report series highlights the eight most influential megatrends to watch for both 2017. Euromonitor International’s global research teams continually monitor the consumer, industry and economic trends shaping world markets.
Our expertise, combined the latest techniques in re-examining the tens of millions of data points in our Passport database, allows us to be uniquely positioned to provide a holistic approach to common drivers that have the power to transform and disrupt entire categories in the next five years.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis and plan your corporate strategy with our expert qualitative analysis and growth projections.
This industry report originates from Passport, for more information click here.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.