The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
In 2020, Australian consumer confidence remained low and incomes were devastated by the coronavirus pandemic. However, government stimulus packages helped Australian consumers – and some appliance segments grew as a result. Smaller appliances were boosted not only by lower unit prices, but also due to the fact that consumers spent more time at home. These trends also boosted the sales of food preparation appliances.