Euromonitor points out the main consumption trends for 2022

Euromonitor, an international market intelligence company, published its annual survey that points out how consumers are transforming their habits, and indicates consumer trends for next year.

For 2022, the study highlights actions related to the environment, the recommerce and new digital consumers to keep on sight. Check it out:

● Plan B:

According to the study, the pandemic affected the supply chain in recent years, which made consumers seek other ways to find their products. According to Euromonitor, people always have a B plan, and they are willing to pay more, to wait more, or even pick up simpler alternatives or used products.

“Companies need to invest in local supply and automation to overcome periods of scarcity. Dividing costs with other actors to buy ingredients or large components can be an option to ensure continuous supply,” the study suggests.

● Recommerce

In the general market, but particularly in fashion, economy and sustainability are highlighted trends. Therefore, the recommerce, which enables the marketing of used pieces and reselling them on specialized websites, will be highlighted this year. “Certain consumers want exclusive or unique pieces that can have a higher price. These factors boosted second-hand purchases to the conventional market, ‘’ the survey explains.

According to Euromonitor, platforms and aggregators will offer different brands and resale options to meet consumer demand.

● Hybrid life

Euromonitor’s survey points out that with the end of social isolation, people are eager to resume social life, but also afraid, since 76% of them have taken health and safety precautions when leaving home in 2021. With this, they will think better before attending a face-to-face event, and companies need to be attentive to this, and offer a hybrid experience.

For 47% of respondents, companies must explore new business models as marketplaces in the next 12 months.

● New purposes

According to Euromonitor, “the pandemic conducted consumers to a large renovation of life, resulting in drastic personal changes and in a collective start in relation to values, lifestyle and objectives.” The study points out that the time people dedicate to their personal well-being increased from 12% to 24% in 2021. On the other hand, the companies interviewed demonstrated that the theme should also be a priority in professional life, as 44% of them believe that their companies will invest in the health and well-being of employees in the future.

As a consequence, companies will need to understand how to help the consumer on this journey. “Companies need to offer policies and products that aggregate value and support personal growth to boost loyalty,” the study defines.

● Climate agents

For Euromonitor, the lifestyle based on the low carbon content is a reality. According to the survey, 67% of consumers tried to make a positive impact on the environment by means of their daily actions in 2021. Therefore, companies need to put the environment as an urgent concern, and rethink their operations to cause less climate impact.

In this sense, in addition to the processes, the study highlights digital platforms: Technology tools such as digital labeling of mobile tracking products and applications help consumers track ethical allegations, carbon footprint and recycling habits directly from their phones. The more offers align with consumer expectations, more brands will see their products and services reverberate.”

● Acceptance and self-care

According to the Euromonitor, “consumers yearn for comfort and love as life returns to normal. As they are no longer in survival mode, these consumers are embracing the future.” The survey points out that this will be an important guide in consumption, with people seeking products focused on body care and mind.

● Digital elderly

The elderly are commonly disregarded when talking about digital advances, but the isolation of recent years has made many elderlies learn to deal with the digital world. More than 60% of consumers over 60 years old have visited a social network at least once a week in the last year. They also have higher purchasing power, but they require more simplified interactions.

According to Euromonitor, to meet this audience’s demand it is important to think of easy-to-use technologies and combined solutions between digital and face-to-face.

● Financial concern

The survey highlights that consumers are more dedicated to investing and monitoring the financial market by using digital services to invest and track their financial operations.

For the Euromonitor, consumer-focused money management applications are a trend and retailers and marks should collaborate with financial service companies to facilitate alternative payment forms such as cryptocurrency or “buy now and pay later.”

● Metaverse

With isolation, people developed new relationships with the digital, and platforms have become environments to socialize even at home. The rise of Tiktok is also a highlight and, according to Euromonitor, in 2021, more than 30% of consumers bought goods or services after viewing a post of an influencer or an ad on this network.

For them, immersive 3D realities and increased reality devices should be on the radar of companies. The study also mentions GUCCI, which organized an experience of virtual multimedia. Users’ avatars were displayed as neutral mannequins that changed in shape and color as they moved by thematic rooms.

● Urban and rural

Another trend brought by the transformation of recent years is the need for more space and green environments at home, especially for those who will continue in remote work. However, those who do not want to give up urban life, want to take the rural lifestyle for cities.
For them, “expanding traditional points of sale and services and investing in e-commerce will help companies achieve a broader audience”, since “consumers want safe, clean and green environments, whether in the city, either in the suburb, or in the field.”

For Euromonitor, companies need to support consumers on their journey and understand their priorities to instruct innovations. “Offers that help consumers to feel realized, positive and self-confident will improve the perception of the brand.”