The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreJun 2020
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How will consumers work, shop, eat, drink, play in post-lockdown society? Further, what are the impacts of social distancing and home seclusion? What fears will linger and how will that shape consumption? The new normal will include reduced consumption of non-essential items, a tendency to anti-ostentation, fewer car journeys, reduced international air travel, more nature, focus on the self, close friends and family as well as preventative and immune health. How will these help shape the future?
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
The global economy is forecast to enter its worst recession since the 1930s, hitting every sector from hospitality to education and finance. Yet the massive change brought about by the pandemic also makes consumers re-evaluate their life priorities, giving rise to new values and spending criteria.
The closure of foodservice outlets and requirements for social distancing as well as imposed working/learning from home has shifted numerous consumption occasions- eating, drinking, washing, entertaining – into the home. The trend for hometainment will be a long-term one, with counter-top gadgets for recreating the outside experience indoors, cocooning, etc, developed to address this.
The closure of non-essential retail outlets and a temporary disruption in supply chains has shifted many sales online, with e-commerce accelerating dramatically and an end to malls in sight. All companies will seek new routes to consumer (eg D2C) although issues with lengthy delivery dates and availability along with a desire to recreate the live experience will drive store footfall longer term.
Consumer focus has shifted to preventative health, either through sanitation (handwash) or immunity-boosting products within the food, beverages and consumer health industries. The focus on mental wellbeing, so damaged during social lockdown, will favour functional, mood-boosting items, one of the remaining drivers of premiumisation as pricing polarises between the top and bottom end.
The disruption to supply chains, however temporary, has brought long, international supply routes into question. Price will have to be weighed against availability and sustainability concerns, along with consumer demand for more local, small-scale production. Companies will also face consumer demand for altruism over profit and a championing of local causes and tailored local supply.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.