Megatrends in the UK

October 2023

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 the UK.

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This report comes in PPT.

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 United Kingdom 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 United Kingdom report answers:

  • How is the consumer mindset in United Kingdom changing? In United Kingdom, what are consumer attitudes towards “green” and sustainable products?
  • What values influence consumers in United Kingdom purchase decisions?
  • Where and how do consumers shop in United Kingdom?
  • What health-related activities do consumers in United Kingdom participate in?
  • What megatrends should I focus on in United Kingdom (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
The drivers shaping consumer behaviour
Megatrends framework
Businesses harness megatrends to renovate, innovate and disrupt
Convenience
Iceland unveils new forecourt convenience store format
Consumers of all ages are using tech to make life easier
Consumers seek more flexibility in all areas of life
Shoppers want to see before they buy
Convenience drives e-commerce demand
Young people see cooking as a chore
Digital living
Sky offers holistic smart home solution, integrating insurance and home control
Video gaming is a favourite pastime among young Brits
Consumers are protective of their personal data
Millennials want to remain anonymous but are willing to share data for offers
Friends and family are still the most trusted information source
Consumers expect more online activity post-pandemic
Diversity and inclusion
ScaleUP initiative strives to foster diversity within the fashion industry
Generation X are the most vocal on social media
Younger generations want to change the world for the better
Most British feel comfortable expressing their identity
Shoppers are paying more attention to brand values
Experience more
EE Studio combines innovative physical and digital experiences
Brits enjoy socialising both on and offline
Relaxation and safety are key priorities on holiday
Consumers still prefer real world over online experiences
Personalisation
Personalised skin care start-up Skin + Me poised to scale up its business
Millennials are the most enthusiastic about virtual activities
Millennials are the most individualistic cohort
Premiumisation
Abbeyfield Belfast redefines senior living with its luxury offerings
Millennials want a less complicated life
Generation Z are the least concerned about their futures
Superior taste, high quality and comfort are prized attributes
Pursuit of value
Boots’ new range of budget-friendly toiletries helps customers through cost-of-living crisis
Baby Boomers are the thriftiest cohort
Older generations are the most worried about the rising cost of living
Brits are embracing the circular economy
More than half of Generation Z intend to save more money
Shopper reinvented
M&S announces new omnichannel strategy in quest to create seamless shopping
Trust in brands is most important to Millennials
Online shopping conquers most categories, with the notable exception of clothing
S-commerce is starting to gain traction among the young
Generation Z interact most with brands online
Sustainable living
Homethings improves its eco-friendly laundry pods
Brits are less concerned than other nations about global warming
Mindful consumption is on the rise
Reducing food waste tops the list of green activities
Consumers are reticent about making their voices heard
Recyclable and compostable packaging is considered the most sustainable
Wellness
Quorn adds to its meat-free range with Katsu Fillets
Meditation and herbal remedies are the main antidotes to stress
Millennials are the most likely to regularly exercise
Consumers remain wary of health and safety in post-pandemic era
Leverage the power of megatrends to shape your strategy today
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