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
Time is increasingly a crucial commodity for today’s consumer – and a luxury in today’s connected world. As a result, time is something that more and more people are willing to buy. More of us are prioritising time to relax, to spend with family and friends, or to experience new things, over and above buying more goods (that we don’t really need or even have space for) or spending time on chores and everyday tasks.
Saving time is impacting on retailing in a big way. It drives the growth of both local and online shopping. It’s a major factor in the trend for convenience, a trend which withstood the recession. Convenience impacts across sectors, being a factor in the sales of ready meals, multi-functional appliances and beauty products.
Convenience is king for connected consumers at home, work and play and technology can play a central role in making our lives easier.
The consumer goods sector should embrace this trend by focusing on convenience in each and every aspect of the consumer experience. The key question is: How can the business make it easier for consumers to choose, purchase, use and re-use their products and services?