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.Learn More
Pride and power in local culture will become more sharply defined and relevant in 2020. The Proudly Local, Going Global trend captures consumer desire to adopt and appeal to a sense of individuality and growing national identity from local inspiration. There is also a growing expectation for multinationals to respond appropriately and creatively to local culture, social norms and consumer habits.
There are deeper ethical value shifts beyond self-expression and consumption driving this desire for localisation. Consumers are prioritising environmental responsibility while helping local businesses thrive and reconnect with communities.
Multinational companies are keen on localising their production or acquiring already established local players. By producing locally, companies can reduce delivery times. This aligns with manufacturers in terms of their sustainable credentials and distribution models. Being accessible, local and clean is becoming more important to survival.
The fact of the matter is: people don’t necessarily want the same products as everyone else.
“There is a desire to connect with local traditions and culture, often starting with fashion, music and cuisine. This reconnection with one’s authentic roots is key in the Proudly Local, Going Global trend in emerging markets,” according to Lead Industry Analyst, Justinas Liuima.
Taking pride in and supporting local communities is an enduring feature of the consumer landscape, as reflected in the growing preference for local products and brands, which are more authentic and better representing of individuality.
Click here to download the full Top 10 Global Consumer Trends 2020 report.