The pandemic has made more consumers adopt cash alternatives, reducing the overall unbanked population around the world. M-commerce is becoming more common as smartphone adoption spreads. Proximity mobile payments have increased to reduce contact at the POS. Consumer spending rebounded in 2021 following the global decline of 2020 and is projected to maintain consistent growth going forward.
In Q4 2021, out of the 48 economies covered by Euromonitor International’s Recovery Index, 28 are expected to have recorded a score of 100 or over, indicating a recovery in which economic output, the labour market and consumer spending all return to/exceed pre-pandemic levels of 2019.
Looking ahead to the future of home improvement and gardening sales, demand drivers in 2021 have created a solid uplift for the year. The biggest driver of this is the demographic shift with more Millennials entering the market. This looks to be a lasting influence across countries. That said, inflation and a vicious cycle of shortages and supply disruptions are expected to be a limiting factor in 2022.
The luxury and fashion industries are showing a stronger rebound in demand in 2021 than we expected a year ago, with pent-up demand turbo-charging recovery and domestic consumption in the spotlight, given the ongoing travel restrictions. In this webinar, speakers will discuss the transformation that luxury and fashion industries are going through.
This report highlights the results of Euromonitor International's Voice of the Industry: Consumer Health survey, alongside commentary and context from Euromonitor International experts.
The global pet care market is expected to increase in 2021, based on increased ownership in developed countries during lockdown, and people’s rising awareness of pets in emerging markets post-pandemic. Premiumisation and humanisation will continue, and claims around allergy care, mental health and sustainability are considered important components of future premium trends. E-commerce channels surged during the pandemic – a trend that is expected to continue.