What Are We as Consumers in 2020?
Every year, Euromonitor International identifies emerging fast-moving trends that we expect to gain traction in the year ahead. And this year is no different.
The Big Picture
Our white paper, Top 10 Global Consumer Trends 2020, explores the most influential trends shaping consumer behaviour, shopping habits and purchasing decisions this year.
In 2020, the 10 most disruptive trends are:
Two main themes are evident in 2020’s top global consumer trends – convenience and personal control. Consumers must strike a balance between the two, and that’s not always easy.
People are beginning to accept that robots or other artificial intelligence can perform certain tasks traditionally done by humans.
Catch Me in Seconds
Consumers are growing accustomed to shorter content. In response, brands are launching offerings with visual cues and auditory comments – multisensory and quick for instant gratification.
Consumers want their transportation across cities to be modular and personalised to their individual needs.
Inclusive for All
Consumers are seeing a need for cultural change. As a result, companies are reframing their products and services to be more accessible to everyone, representing individuals beyond the mainstream.
As mental wellbeing is brought to the forefront of consumer concerns, people are seeking outcome-based goods to address specific need states, such as stress and sleeplessness.
With remote work gaining popularity and greater access to 5G, consumer habits regarding working, dressing, shopping, exercising and more will revolve around their homes.
Consumers are conflicted. They expect brands to tailor products and services to them, yet they must surrender their personal information to optimise their experience.
Proudly Local, Going Global
Consumers are retreating from globalisation and hyper-consumption and moving towards buying fewer, higher-quality products while shopping in and supporting local neighbourhoods.
Consumers are prioritising experiences over ownership. New business models that aim to offer more with less through sharing, refilling and renting are appealing to more ethical consumers.
We Want Clean Air Everywhere
Air pollution awareness is impacting consumer choice. Brands are positioning themselves to target these environmentally conscious consumers.
Download the full report to learn how to better target consumers based on what they value and identify competitive strategies for growth in 2020 and beyond.