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 moreJul 2016
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A host of economic, social, demographic, technological and environmental factors are reshaping consumer behaviours and attitudes worldwide, and these are having a growing impact on preferences and spending patterns in the home and garden market. New patterns of consumption are emerging in segments ranging from gardening to home furnishings and home improvement that are strongly influenced by such trends as thrift, sustainability, wellbeing, connectivity and a desire for experiential consumption.
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The Asia Pacific region in general, and China in particular, is urbanising at an unprecedented rate. These newly affluent urban consumers are the main driver of growth in the global home and garden market.
Young adults in developed economies are finding it increasingly difficult to become economically independent and purchase their own home. This is having a negative impact on the home and garden market and beginning to impact furniture design.
The proportion of the population aged 65 years or older is expanding rapidly, and given their high level of home ownership and above-average purchasing power, so is their importance in the home and garden market.
Consumers are increasingly interested in the healthfulness of the products they buy, growing their own food, sustainability and reducing their carbon footprint. This is boosting demand in some segments, particularly seeds. On the other hand, some are attempting to reduce their overall level of consumption, undermining sales of furniture.
With smartphone possession now close to universal in many countries, e-commerce is now more accessible than ever, and home and garden retailers must adapt to this. Meanwhile, 3D printing is likely to emerge as a means of distributing homewares in the longer term.
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.