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Global market research company, Euromonitor International, has released the “Top 10 Global Consumer Trends 2020” report. The new report identifies the most influential trends shaping consumer behavior, shopping habits and purchasing decisions this year.
Every year, Euromonitor International identifies emerging and fast-moving trends that we expect to gain traction in the year ahead. These trends provide insight into changing consumer values, exploring how consumer behaviour is shifting and causing disruption for businesses globally.
According to Euromonitor International, these are the main global consumer trends in 2020:
Beyond humans: The consultant points out that consumers are increasingly tolerant of robots or artificial intelligence to carry out activities that until now have only been carried out by humans, especially in matters related to well-being. In fact, the consultant explains that the Alpha generation (1994-2010) will not distinguish the physical and digital world.
More content in less time: Another feature highlighted by the 2020 consumer report is the immediacy of the content. With the momentum of technology and accessibility, consumers can find the information in ten seconds, and the demand now goes to brands to adapt to this trend to overtake their competitors.
Private Personalisation: In recent years, consumers have become accustomed to personalized experiences from brands in exchange for data sharing. Now, consumers demand this experience without the added cost of surrendering their privacy. In other words, they will only share their data with companies that offer added value.
Leave home, what for? In addition to facilitating the methods of work, transportation and access to information, technology has also allowed the creation of multifunctional homes, where it is possible to shop, go to the gym and work without having any contact with the outside world. Although this trend is not new, as detailed by Euromonitor, it will gain relevance in 2020.
Farewell to mainstream models: Another trend that will disrupt 2020 is inclusivity. Current consumers want companies to put inclusivity in the limelight, at the center, both in strategy and in the product. In 2020 consumers demand that companies embrace inclusivity
Produce local, sell global: Pride of roots is another popular trends for consumers that will mark 2020. Euromonitor points out that consumers demand that companies give more and more value to local products so that they do not lose their identity.
The recycling revolution: Sustainability is another trend that consumers will connect to in 2020, especially for younger generations. The new business models, ethical consumption, circularity and recycling will define consumption in the next twelve months.
‘Clean air everywhere’ The commitment to the free air of waste and to reduce emissions to the atmosphere is another trend that will mark the consumption in 2020. This trend is mounting to pressure governments and companies from consumers.
“Convenience and personal control are the core themes connecting these trends in 2020,” said Gina Westbrook, director of consumer trends at Euromonitor International. “Consumers are putting themselves first as they look for ways to simplify their lives.”
Download Euromonitor International’s free report to discover the 10 trends that will influence consumer values and business strategies in 2020.
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