Emerging Forces Shaping Consumer Behaviour: In this report Euromonitor International reviews emerging fast-moving trends we expect to gain traction in the year ahead, providing insight into changing consumer values and priorities, and exploring how consumer behaviour is shifting and causing disruption for business globally. Further detail can be found in Euromonitor’s white paper ‘Top 10 global consumer trends for 2019.
Consumers no longer hold with conforming to demographic expectations – everyone connects. Baby boomers have much more in common with the values and priorities of millennials and younger generations than many realise, and it is this inclusive mindset that needs to be better understood and catered for in the future.
Consumers are searching for authentic, differentiated products and experiences that allow them to express their individuality. Consumers in developed economies are re-evaluating their spending habits, moving away from overt materialism to simplicity, authenticity and individuality. As emerging economies develop further, the same pattern is likely to emerge.
Conscious consumers are flexible and choose for the moment. What used to be the domain of ethically-positioned niche producers is now being embraced by conventional companies through higher welfare alternatives to existing products. These consumers are influential, and the trend will spread to others.
High-speed internet, particularly the acceleration of mobile internet, is driving live interactive experiences online and facilitating collaboration on large files instantly. From dating to education, we have grown to expect more authentic, life-like interactions online. As our technological capabilities and comfort in using them grow, so will the range of things we can do Digitally Together.
This embodies the switch in power between retailer and consumer. Previously, shoppers relied on a certain brand or information source to get what they wanted; now, companies must constantly innovate, drive prices down and streamline and aestheticise their offerings to entice consumers.
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