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.
Amid an increasingly crowded marketplace and proliferating innovation across multiple dimensions of the wellness spectrum, it is vital for companies to sharpen strategies in view of continually evolving preferences among health-conscious consumers. Adopting a quantitative approach in measuring the evolution of the trend, assessing respective cross-industry impacts, and changing consumer spending patterns is crucial for more informed investment decisions and elevating the value proposition in this space.
This article highlights how consumers can use Euromonitor's Trends Framework to inform innovation strategy planning.
Between 2022-2040, East Africa is predicted to record faster economic growth than sub-Saharan Africa at large and other Asian economies that are experiencing rapid industrialisation. However, like in other parts of sub-Saharan Africa, the region will still need to grapple with major challenges, including widespread poverty and political instability.
In today's rapidly evolving business landscape, staying ahead of consumer trends is crucial for companies to remain relevant and competitive. Megatrends, the long-term consumer-driven shifts in behaviour and values, play a pivotal role in shaping industries and economies. Quantifying these megatrends can be a complex task but helps you estimate market potential, spending propensity and ROI. So, where should you start? Here, we explain the importance, methodology and benefits of quantifying megatrends.
Technological advancements continue to accelerate the digitalisation of all our daily routines from shopping, entertainment and socialising through to work and learning. The evolution of the metaverse promises to enable the seamless convergence of our physical and digital lives.