Now in the beginning of the new year, the topic of consumer trends is still hot. The global market research and analytics firm Euromonitor have released their top 10 forecasts—you have probably already read about all or some of them in other trend overviews by SBC Partners or by Landor Associates.
The Euromonitor’s top 10 trends and major takeaways from the report are, as follows:
1. Buying convenience.
More consumers are willing to pay for products that might simplify their hectic on-the-go lives and optimize their use of time. That’s why the trend of convenient, quick “top-up” shopping in a nearby local store is on the rise. Euromonitor forecasts that sales in grocery retailers in the UK will grow by 0.2% in real terms, while this figure will rise to 2.5% for convenience stores.
Another popular convenience trend is the emergence of click-and-collect locking stations where online shoppers can collect their purchase whenever they want.
2. Consumption as a route to progress.
Obviously, this trend is true to sustainable brands that try to change the world through socially and environmentally responsible products they create, inducing consumption rates.
3. Influencers: more like us.
Celebrities starring in brand campaigns are becoming more of lifestyle mentors rather than just “selling faces.” Another trend is the increasing interest in vloggers—mere fellow consumers who share their views in YouTube videos.
4. Let’s share: the rise of lightweight living.
The new philosophy of sharing has stepped far beyond giving a treat just because of curtesy. Technology has made sharing hot and beneficial—that’s why services like Uber to Airbnb thrive.
5. Malls and shopping centers in community mode.
Traditional retail spaces in the developed countries may gradually transform into cozy spaces with a community feel and aesthetics: from megamalls to smaller, more central shops. However, the emerging market shoppers may still enjoy bigger malls for their international allure.
6. Millenials change.
The demographic group with the highest purchasing power, Millenials (18-34) are becoming more socially conscious and less brand-loyal. They care about privacy a lot; about a third live with their parents. They are the most diverse and educated generation so far.
7. Privacy matters.
Due to consumer demand, in 2015 brands will increasingly offer privacy as a selling point, while more and more brands would promote themselves as privacy-friendly.
8. Shopping the world.
Online shopping offers a fun and safe cross-border experience, while often helps save the money. Real shopping tourism is also gaining momentum, especially for the Chinese shoppers.
9. Virtual to real and back.
“Omnichannel experience” must be the phrase of the year for marketers. Consumers in 2015 will live in the “real world” blending in with online culture seamlessly.
10. Wired and well: connected health.
In 2015, more consumers are acting on their belief that monitoring their wellbeing digitally will help them stay well. Hence, Euromonitor predicts the boom of wearable devices.
The full 37-page report on top 10 consumer trends from Euromonitor International is available here.