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
This article is part of a series highlighting the Top 10 Global Consumer Trends 2021 report.
The world transformed in 2020. Consumer habits and business operations were upended due to COVID-19. During this volatile time, it is imperative to prioritise what customers want. Identifying these trends early will allow brands to create products and services that resonate with consumers.
Euromonitor International’s report reveals the most impactful trends that will define consumer behaviour in 2021. These are the trends to look out for this year.
Build Back Better
In 2020, 50% of professionals believed their company was purpose-driven. It is now expected that businesses care beyond revenue and prioritise the triple bottom line – people, planet and profits.
COVID-19 reduced impulse occasions and walk-ins are now pre-planned. People want the convenience of the pre-pandemic world back. A seamless experience will play a pivotal role in purchasing decisions.
Consumers are turning to the outdoors for leisure and recreation. Spending more time outside provides the feeling of connectedness while disconnecting from crowds. Open-air venues will become essential.
Physical and virtual worlds collide to keep people connected to the outside world. Virtual tools will become integral to operations. Integrating virtual processes into brick-and-mortar locations is imperative to ensure customers feel safe to return to physical spaces.
Playing with Time
51% of consumers chose “time for myself” amongst their top three life priorities in 2020. Newfound flexibility provides more time, but finding the best use of this time can be difficult. As a result, a 24-hour service culture will emerge.
Restless and Rebellious
Consumers are fed up. Distrust in leadership has become the norm. Bias and misinformation are causing a crisis of confidence. Having suffered, put others first and gone without, these self-care aficionados
are now rebelling, placing their own needs and wants first.
Safety is the new wellness movement. The fear of infection and increased health awareness will drive demand for hygiene products and contactless solutions to avoid exposure.
Shaken and Stirred
Depression and mental health had a moderate or severe impact on 73% of global consumers’ everyday lives last year. People are reassessing priorities and identities in pursuit of a more secured, balanced and fulfilled life.
People are cautious and frugal. At the beginning of 2020, 49% of consumers intended to put more money into savings in the next 12 months. In 2021, value-added and health-conscious products are being prioritised.
Workplaces in New Spaces
Out of office took a new meaning in 2020. Working from home had a ripple effect on everyday life, from clothing choices to technology spend to eating habits and beyond. The traditional office will be redefined.
Resilience and adaptability are the driving forces behind the trends in 2021. Despite the many hardships, consumers have not given up. They continue to find their voice and push forward to advocate for a better tomorrow.
Download the full Top 10 Global Consumer Trends 2021 report to learn more about emerging and fast-moving trends that are expected to gain traction in the year ahead.