The Singapore FinTech Festival (SFF) is one of the world’s leading FinTech conferences, bringing regulators, banks, and FinTechs together for a global dialogue on finance, technology and policy. Euromonitor International identified the six main directions discussed: Embedded Finance, Cross-Border Transactions, Sustainability & Inclusion, Artificial Intelligence, Digital Money, and Digital Assets.
The hype behind plant-based food is being driven by rapid innovation, with a sharp acceleration of product launches driving consumption through curiosity and the attraction to novelty. Price, taste and texture, along with health and nutrition have been the key challenges affecting plant-based products’ success with consumers over the last few years.
Approaching 2024, the consumer landscape remains dominated by a high degree of uncertainty. Although overall inflation is set to fall in 2024, core inflation – which excludes volatile food and energy prices – is expected to remain elevated. This is likely to force central banks to keep interest rates “higher for longer”, adversely impacting companies and consumers.
Euromonitor International joined the Hong Kong FinTech Week (HKFW) 2023, identifying five key trends with global impact shaping the future of finance: namely cross-border transactions; artificial intelligence (AI); embedded finance; digitalisation and ESG opportunities. Besides cross-border transactions discussed in a prior article, this opinion focuses on the latter four key trends.
As global consumers face geopolitical uncertainty and challenges posed by rising living costs, insights into worldwide income and expenditure trends become critical to corporate strategy planning. Euromonitor International has identified the top five trends to help companies predict the purchasing power potential and spending patterns of the most important consumer segments.
In China, as consumer demand for skin care has become increasingly sophisticated and science-based, home-use beauty devices have gradually become an important step in the skin care routine. With the introduction of new regulations for beauty devices in 2024, the market landscape is poised for a significant reshuffle.
Cross-border transactions was a key trend discussed during the Hong Kong FinTech Week 2023, with a focus on better international inter-operability, faster speed, lower cost, higher security and more practical features.
When it comes to e-commerce investment, emerging markets have long been overshadowed by developed countries. However, as e-commerce penetration and online sales growth rates mature in developed countries, players across the digital ecosystem are shifting focus to emerging markets.
Consumer foodservice was one of the industries most badly impacted by the pandemic and its slew of restrictions, recording major losses across regions. It has been recovering in most areas of the world since the pandemic, although the recovery is starting to slow, due to high inflation rates pushing up costs and eating into consumers’ disposable incomes.