Technology and well-being lead consumer trends for the future

Euromonitor International, a global market research company, has released consumer trends for the coming years around the world. Highlighting technology combined with well-being and sustainability actions, the survey shows new markets that can be explored according to consumer preferences.

The document shows the trends that should be strengthened in the coming years, as new generations increase their purchasing power and redefine the way of consuming. See all of them below:    

• Robots at home

One of the trends analyzed by Euromonitor is that people are more open to Artificial Intelligence as a way to make their personal lives easier. Examples like Alexa, Amazon’s virtual assistant, are likely to become more and more common.

• Custom transportation

According to Euromonitor’s cities consultant, Fransua Vytautas Razvadauska, there is a consensus that a new and more efficient mobility model is needed. “The availability of a fast internet connection and smartphone apps set the stage for a variety of mobility services, including car and scooter sharing systems to supplement existing public transportation,” believes the expert.

• More quality content

Social networks help to disseminate content quickly, but also collaborate with the poor quality of the shared content. According to the survey, consumers want fast, yet authentic and reliable content. With this, the ideal is to bet on personalized dissemination, which creates familiarity with the end customer.

• Personal, but not so much

One of the trends pointed out is customized products, giving the customer the feeling of having something unique and original. According to digital marketing company Liveclicker, retailers who invest in advanced personalization tactics receive 17% more revenue compared to those using less sophisticated methods.

However, this concept bumps against a new concern: data sharing. To create something unique for the customer, companies need as much information about them as possible, but people are less willing to disclose personal data on networks. According to the analysis, however, younger groups do not have the same concern and are willing to share their data to receive personalized offers.

• Inside home

Another concept expected to grow in the coming years, in line with the use of artificial intelligence, is solutions that allow people to spend more time at home. According to Euromonitor data, the percentage of homes worldwide with internet access has doubled since 2010. With this, companies and workers can embrace the benefits of remote work, with the help of several software products that enable online meetings, conversations, and collaboration.

• Accessibility

Data from WHO (World Health Organization) show that more than one billion people worldwide live with some type of disability, composing the largest marginalized group in the world. With this, it is important to develop strategies that allow the inclusion of these people, offering them new forms of consumption that suit their realities.

• Root product

Following a line similar to that of personalization, people are increasingly interested in connecting to their roots. While consumer experiences may be the same around the world, understanding the roots is a way to personalize the shopping experience. As the study explains, “niche brands begin their global route to success by accentuating their local credentials, placing them at the top of consumers’ minds.”  A 2019 survey by Wave X Remix Culture found that more than half of consumers believe that local brands and products are more authentic than content and products from other countries.

• Sustainability and clean air

Sustainability is a topic already debated in companies, and takes shape in several ways. In addition to thinking about waste and environmental impact in factories, companies are beginning to think about ways to share spaces and reuse them, opening up new business possibilities. In this same aspect, awareness of the environment and clean air also becomes a priority.

According to Euromonitor, more than 89 billion tons of materials were extracted from the global economy in 2018. However, only 9% of the materials returned to circulation, which means that 91% were discarded, according to the 2019 Circularity Gap Report. As for the future, companies will want to create solutions to increase the reuse of these resources.

• Welfare

Mental health has become a priority, as a consequence of the increasing cases of anxiety in the world. According to the WHO, one in four adults in the developed world suffers from anxiety, but less than half of them receive treatment. With this, experiences and services that help people to rest and de-stress also become a niche to be explored. “The modern consumer, worried about being worried, no longer bases his or her decision to buy on which product or ingredient he or she wants or when he or she wants to consume it, but on the specific result he or she will receive and how he or she will feel about it”, concludes the research.