Global market research company, Euromonitor has recently revealed the top ten global consumer trends that are expected to gain traction in 2019.
The report sheds lights on emerging trends in the context of changing consumers’ values and behavior and investigates how these tendencies affect the global market.
We are entering a new era for both consumers and manufacturers which Euromonitor calls “age agnostic”. People do not want to feel old, so businesses are required to address this trend by offering products with a universal design across generations.
Gina Westbrook, director of consumer trends with Euromonitor has noted that baby boomers have now much in common with the values and priorities of millennials and younger generations.
Back to basics for status
The fast-paced modern lifestyle has many consumers craving more simplicity. This trend is expected to be felt across different markets including the food sector. For example, UK retailer Morrison is actively seeking to expand its range of local produce through the Local Foodmarkers initiative.
Today, animal welfare is no longer a niche issue for consumers, it is a topic that is becoming very familiar to an increasing number of mainstream consumers which Euromonitor is calling “Conscious Consumers”. This is among the main reasons why plant-based diets are currently on the rise. The tendency has greatly impacted the food sector, with many players in the industry racing to offer products that cater to the needs of vegans or vegetarians. For example, fast-food giant KFC has successfully launched the Veggie Burger in Canada and New Zealand.
In the new year, Euromonitor believes technology will continue to play a major role in consumers’ lives. Given the rising interest in being healthful, the market research company expects to see a growing interest in smartwatches and other wearable technology that allow people to monitor their health stats.
Everyone’s an expert
Today, the Internet is ubiquitous, which means information from any category is available at our fingertips. 2019 shoppers are greatly influenced by their peers when making a purchasing decision. Consumers consult reviews before buying something and are more likely to leave their own feedback. The result is that companies now tend to put their customers on a pedestal and are always coming up with new promotions and special offers to keep their consumer-base happy and engaged.
Finding my JOMO
In an increasingly connected world, a lot of people are now looking to find their JOMO (joy of missing out) by reducing time spent online and cutting down on time spent on social media in favor of real-life interactions.
I can look after myself
Being self-sufficient and in-control is an idea that will continue to appeal to customers in 2019. In the new year, it will become less acceptable to be uninformed about food. Solutions like personalized nutrition, alternative health therapies, and preventive solutions will take the spotlight.
I want a plastic-free world
With environmental awareness on the rise, consumers are becoming a lot more sensitive about the issue of plastic waste and its harmful effects on the planet. This year shoppers will be more likely to gravitate towards businesses which are environmentally-conscious. For example, UK frozen food retailer Iceland has pledged to remove all plastic packaging from its private label product range by 2023.
I want it now!
Consumers in 2019 will be efficiency-driven and will expect companies to respond to this need. Euromonitor expects to see a rise in mobile apps that help users better organize their life by helping them avoid queues, reduce waiting time and more.
More people are living in single-person households than ever and in 2019 this trend is expected to continue. People living alone are becoming an important consumer segment for businesses around the world. For example, online platform OpenTable US which allows customers to make reservations at restaurants, pairs solo diners with other solo or a group of diners.