Megatrend: Connected Consumers
Consumers are becoming increasingly connected. While connectivity first spread through developed markets, the growth of affordable mobile technology has enabled consumers in the developing world to come online as well. This megatrend is underpinning generational shifts in how people live, work, shop and play.
Connectivity is the new normal
As of 2017, 45% of the global population uses the internet. Euromonitor projects that 76% will have access to the internet by 2030.
Connected consumers use a variety of devices to connect to the internet, in order to experience and interact with digital content, with “experience” being one of the most important words relating to the needs of a connected consumer.
This has altered all aspects of life including shopping, education, entertainment, research, accessing services as well as socialising and is disrupting and arguably improving upon many traditional structures for doing these things.
Mobile leads the way
The advent of mobile internet has been one of the greatest innovations for the connected consumer, putting the world at their fingertips, giving consumers instant access and enabling them to find the answer to almost any questions at any time.
The rapid increase in connections has ushered in speed, convenience and instant access across life. Connected consumers can summon a taxi, book a flight, browse products, order food, listen to music, play a game, watch a film or chat with others using internet connectivity.
An example of how this has evolved is with Netflix changing how viewers consume media. When launching in 1997, Netflix began as a mail-order service which eventually evolved to give way to Netflix streaming video over the internet, spawning the cultural phenomenon of binge watching, with 50% of global connected consumers watching video on a mobile device on a weekly basis.
For more information on how to conduct megatrend analysis for your business and the top 8 megatrends that will have the most impact on your business, download our white paper Megatrend Analysis: Putting the Consumer at the Heart of Business.