This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s 10 focus megatrends and insights as to how each trend has manifested in Canada.
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Overview:
Consumer Lifestyle reports provide detailed snapshorts of the behaviours, attitudes and spending patterns of consumers in 40 countries.
The Lifestyles reports offer valuable statistics and insights into key consumer traits and values, linking behaviour trends with purchase and consumption habits. Using lifestyles survey data, these reports quantify behaviours, preferences and motivations both now and in the future across specific consumer-related topics relating to how consumers live, shop, work and play in 40 markets. Analysis is also included on how Euromonitor’s 8 focus megatrends, the longer-term shifts in consumer attitudes and behaviour, are playing out in each of the 40 countries. Consumer lifestyles are constantly shifting. Understanding behavioural shifts is vital for businesses to stay competitive and adapt to in order to capitalise on new opportunities.
The Consumer Lifestyle in Canada report includes:
Lifestyles survey data and analysis on consumer values, behaviour and future expectations on topics such as life priorities, home and work life, ethical and health priorities and eating, leisure and shopping habits and use of technology. Consumer Megatrends covered are: Connected Consumers Ethical Living Experience More Healthy Living Middle Class Retreat Premiumisation Shifting Market Frontiers Shopping Reinvented
The Consumer Lifestyle in Canada report answers:
- How is the consumer mindset in Canada changing? In Canada, what are consumer attitudes towards “green” and sustainable products?
- What values influence consumers in Canada purchase decisions?
- Where and how do consumers shop in Canada?
- What health-related activities do consumers in Canada participate in?
- What megatrends should I focus on in Canada (and why)?
- How do I prioritize my investment? I operate in country x, which are the most important megatrends in that country?
- My product chimes with the Healthy Living trend, what consumer behaviours do I need to consider for innovation planning?
Scope
Businesses harness megatrends to renovate, innovate and disrupt
The drivers shaping consumer behaviour
Megatrends framework
Convenience will be the main driver of purchasing decisions in the next decade
Convenience
Green convenience store concept KaleMart24 targets health-conscious urbanites
Consumers use tech to speed up daily tasks
Canadians seek flexible employment
Shoppers want to be able to see what they are buying
Online shoppers enjoy the flexibility of e-commerce
Time-poor consumers seek convenient meal solutions
Digital living
TikTok rolls out Notes app to rival Instagram
Video gaming remains highly popular among Canada’s young people
Internet users are eager to protect their personal data
Baby Boomers are the most averse to targeted advertising
Canadians still rely mainly on personal connections for advice
Many expect more face-to-face interactions in future
Diversity and inclusion
KitKat reintroduces its 30-piece Iftar Bar to celebrate Ramadan
Canadians are more willing to voice their opinions on social media
Millennials strive for a better world
Canadians embrace inclusivity and diversity
Canadians are more likely to boycott brands than consumers in other countries
Experience more
Outdoor brand Arc’teryx launches new “Alpha” experiential store concept
Canada’s experience economy continues to thrive
Holidaymakers want to relax and feel safe
Younger consumer groups are most open to tailored and engaging experiences
Personalisation
Amazon launches beta version of its AI shopping assistant in Canada
Millennials are most willing to share their data to receive offers
Younger consumers have the biggest need for self-expression
Premiumisation
Healthypup expands its products to address various functional needs of dogs
Baby Boomers are looking for ways to simplify their lives
Millennials thoroughly research products to get the best value
Nutrition and taste are the most important food qualities for consumers
Pursuit of value
Metro provides tailored offers and discounts with its expanded Moi Rewards scheme
Baby Boomers are the thriftiest cohort
The cost-of-living crisis hits older generations hardest
Canadians are keen to support the circular economy
Gen Z are the most intent on saving money
Shopper reinvented
Canada’s first TikTok SmallBiz Pop-Up enables entrepreneurs to connect with customers
Younger generations enjoy digital experiences
Consumers prefer in-store to online shopping
Canadians are starting to engage more with brands on social media
Young shoppers shift towards social platforms
Sustainable living
Canadian-founded clean and ethical brand Attitude expands skin care line with SPF
Global warming effects prompt consumers to adopt greener lifestyles
Canadians are keen recyclers
Cutting down on food waste is the most pressing environmental concern
Social media makes it easier for consumers to express their opinions
Recyclability is considered the most important sustainable packaging feature
Wellness
Grimm’s Fine Foods continues to innovate in meat snacks
Meditation helps Canadians to cope with modern pressures
Health supplements are widely consumed for wellness
Consumers are highly aware of personal safety outside the home
Leverage the power of megatrends to shape your strategy today
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Gain a thorough knowledge of shifting consumer attitudes and habits and fill in information gaps to inform product/service development, market positioning and channel strategy.
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