The Impact of Coronavirus on Top 10 Global Consumer Trends 2020

Delivery

This report comes in PPT.

Key Findings

COVID-19 impacts all the top 10 global consumer trends for the year ahead

Globally, the consumer trends identified as having the most significant impact in 2020 were emerging strongly. As COVID-19 spreads around the world, some of these have stalled, but mainly the trends are accelerating.

Self-isolation and, for many, forced lockdowns have catapulted some trends forward with long-term implications

Multifunctional homes have become the norm overnight, and fear of virus spread and borders shutting has enforced the proudly local trend. There is an immediate spike in beyond human as business automates more, boosting consumer confidence to do the same to improve their own lives. Awareness of how it feels to be isolated highlights the inclusive for all trend, and the pressure of confinement results in more mental health issues, driving minding myself.

Other trends become less significant in the short term as consumers’ focus is drawn away

As people everywhere stay at home and only key workers travel, frictionless mobility becomes obsolete for the time being, and as everyone scrambles online to purchase what they need, private personalisation is the least of most people’s worries. Concerns about health and hygiene see many return to single-use plastic and reuse revolutionaries falls behind.

Massive disruption will lead to consolidation

Globally, business is war footing as new demands bed in. Companies have had to react quickly as COVID-19 literally changed things overnight for everyone. Tech is having to accelerate to meet demand as pressure on broadband and other technologies has increased so dramatically. Players must review strategies to come out stronger on the other side.

Reset, Rethink, Reboot

COVID-19 has changed behaviours – some forever. Living virtually, coming together and focusing even more on health are now of key importance. Post crisis, consumers will take stock and freeze spending as ongoing fears for health as well as a highly expected recession become their focus.