Health, collective empowerment, and five other trends are expected to create impact on the global consumer markets this year.
Health awareness will be at the forefront of consumers’ minds, according to the research by Mintel. The opportunities are no longer just for those selling wellness product, but who trying something new.
“Consumers are in search of a wellbeing experience through an entirely new lens built around a sense of uncertainty as to when life will shift to more balanced routines,” the company said in the research. “This is driving demand for comfort and structure.”
Global consumers mindset will become more community-focused, raising their voice for equity, agency and rights.
“The rise of the Black Lives Matter movement and the Global Climate Strike show how people are gathering to clamour for positive change,” the research said. “There is an opportunity for brands to take a lead in addressing these issues, and they may risk being seen as a hindrance if they fail to do so.”
The maket will also see a priority shift, where customers look for not only affordability and convenience, but also safety, protection, and durability of goods. This year, consumers are forming their own like-minded communities where they can support each other. Mintel suggests brands to celebrate consumer identities and offer novel ways to support each other.
The growth of digital technology during the Covid-19 has created a fundamental basis for further opportunities for brands to connect with its customers by digital experience.
“E-commerce and online transactions have the potential to become, and remain, the norm,” the research said. “Thus brands are encouraged to innovate digital capabilities in anticipation of consumers’ needs and, crucially, to expertly bridge the gap between the online and offline worlds to offer a more reliable and consistent experience.”
Sustainability will also become a factor that will create impact on the consumer market this year as people are now more aware of the importance of making changes for the communities and environment.