Consumer and retail trends 2020 Author: PwC Subject: Managing expectations around trust and data Keywords: CEOs, consumer markets, retail, trust, data, PwC, Global CEO Survey, uncertainty, data privacy Created Date: 3/13/2020 9:40:10 AM Each trend will drive big opportunities for innovation in the year and decade to come. Convenience is key to this trend, but it also talks to the increasing focus by consumers on environmental issues and their desire for alternative transport modes such as bicycles, scooters and car-share. These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. to everyday life, even though these might not be fully realised yet. The Top Trends are identified through Euromonitor’s international coverage from industry market analysis to quantitative global consumer surveys. Save my name, email, and website in this browser for the next time I comment. All Posts. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. privacy. If the cookie has been deleted by the browser operator, and the browser subsequently visits strategy-business.com, a new __utma cookie is written with a different unique ID. Consumer Trends 2020. Consumers If you are comfortable with our default settings, you can accept them below. Close Save this item to: Close This item has been saved to your reading list. To achieve greater convenience, consumers may be required to relinquish As I consult with companies on future product offerings, I will definitely reference your research. We’ve already had the TikTok-famous Dalgona Coffee, but these trends are here to stay… Coffee Trends in 2020 1. Global Mobile Consumer Trends, 2020. With technological advances set to continue along an exponential trajectory, combined with a shift in consumer values and behaviour, we’re in for some transformational times. 2020 seems to be a continuation of trends that have been built on, including convenience, personalization, and a return to the physical brick and mortar shopping experience. Disclosure: my fund Maven Ventures is an investor in the following companies mentioned in this article: Zoom, Wild Type, and May Mobility, and we were previously an investor in Cruise before it was acquired by GM. Buying habits, like resale and rental, are challenging the traditional consumption model, while consumers continue to expect the brands and retailers they buy from to … Linking to this is the Minding Myself trend, a consumer focus on their mental needs and wellbeing. The trends identified for 2020 revolve around two key themes For multinational companies this has led to a rise in localised production. Other possible values indicate opt-out, inflight request or an error retrieving a Client ID from AMP Client ID service. So here are five key emerging consumer trends to supercharge your planning. The trends identified for 2020 revolve around two key themes – convenience and personal control. Read the report. Digital Consumer Trends 2020. two, and that’s not always easy. The Biggest Consumer Trends for 2020. Consumer preferences drive the economy. wellbeing. consumer concerns in the year ahead. Consumers want greater flexibility in their lifestyles and high-speed internet access and technology advancement are enabling them to do more in and from their homes such as live exercise or educational classes. Our Consumer Trends strategy focuses on the major shifts that are currently shaping consumers’ spending preferences globally. These consumers are moving away from traditional stress relief products like alcohol and cigarettes towards more natural and less harmful stimulants. Euromonitor International is the leading provider of strategic market research reports. Be the first to learn how consumer behaviour will evolve in 2020. In more and more verticals we are seeing a significant shift, where the consumer ​Key here are friends, family and independent consumers, these are the most trusted sources. This on-demand webinar analyses the short- and long-term implications of COVID-19 on consumer behaviour and how businesses can prepare for these shifts. 11 March, 2020. The number on the end is your individual user ID from the users database table. Every year, Euromonitor International identifies emerging We take those collective insights into workshops and drill down collectively to pinpoint emerging short-term trends. Thank you for sharing your insights. This report reflects on the impact of Coronavirus (COVID-19) and how all are being affected, many with a longer-term shift in behaviour. trends respond to changing consumer values and behaviour which is causing Consumers are being given the chance to engage on an equal level and Trends towards health and wellness, plant-based and clean label will continue next year, but the need for food businesses to innovate is greater than ever, says consumer research. Our aim is to uncover the structural winners of these changes. Unlocking lockdown. Understand the shift in consumer confidence in different regions and industry verticals. Tracks the visitor across devices and marketing channels. It serves purposes such as measuring interactions with the ads on our domain and preventing the same ads from being shown to you too many times. personal control. A new year, a new decade. Thinking from the data, research & business intelligence industry. Alternatively, you can inform us which cookies you allow us to place on your devices in detail by clicking the [Settings] button below and toggle on or off your preferences based on the cookie types we use and their purposes, noting this might impact your browsing experience on our website. Consumer and retail trends 2020: Managing expectations around trust and data. Organisations that identify these trends before their competitors will ultimately achieve long-term viability. What’s driving buying decisions around the world? Download the infographic. Learn: What technology do consumers think will change the world most in 2020? It contains a token that can be used to retrieve a Client ID from AMP Client ID service. Cookies are small pieces of information in the form of text files, created by a program on the server of the website, which are then placed on the hard drive of your computer when you visit the website. Associated with the DoubleClick for Publishers service from Google. Sometimes these are complimentary Although trends and innovation reports have forecasted the growing power of the consumer since the emergence of digital media, it is astonishing to consider how far this trend has continued to evolve. New challenges – and huge new opportunities! They are looking for the advantages that technology can bring SHOBSERVATORY Research Chronicles: The intricacies of modern meetings…, Fiona’s…Fascinations | The importance of measuring employee experience, Innovation Insights: problem solving innovation using Jobs to…, Kantar’s view on the evolution of the Insights industry, D.R.I.V.E. changing physical environment and are beginning to value their own mental ​. Stores the user's cookie consent state for the current domain. The 10 Hot Consumer Trends for 2030 report covers how the internet of senses can be a reality by 2030 adding sensory experiences such as taste, smell and touch. Watch now to: Understand the impact of COVID-19 on the top 10 global consumer trends 2020 Opinions expressed by Forbes Contributors are their own. Euromonitor International has released the “Top 10 Global Consumer Trends 2020” report, identifying the most influential trends shaping consumer behaviour, shopping habits and purchasing decisions this year. In our first of four holiday mini-guides, “What to Expect for Holiday 2020: 5 Key Consumer Trends… Consumers want and expect brands to tailor their products and services to them, however, to do this, they must share personal information. We prompt our analysts internally in each of our industry verticals and poll the expert teams for their insights. Opportunities will grow and consumers will spend more time and money on products and services that cater to them in their homes, while spending less outside of the home.  This has massive implications for national infrastructure. Consumer attitudes and interests are changing just as rapidly. A new year brings renewed excitement to meeting hundreds of emerging early stage startups. Historically, this cookie operated in conjunction with the __utmb cookie to determine whether or not to establish a new session for the user. The ability to feel, or rather identify, shifts, and tendencies of retail demand is a key skill for a successful Shopify merchant. This cookie is written only if you have added the¬_setVar() method for the tracking code on your website page. Based on the available data, the three major trends are expected to govern the 2020 eCommerce market: The Multifunctional Homes trend sees consumers’ homes evolving beyond the traditional function of living and sleeping and more towards the hub for many life activities – work, shop, play and exercise. Convenience and personal These cookies are necessary for the website to be usable, by enabling basic functions like page navigation and access to secure areas of the website. disruption for business globally. Our Consumer Trends strategy focuses on the major shifts that are currently shaping consumers’ spending preferences globally. As Alice went into Wonderland, things…, Innovations in media measurement, accelerated by COVID, establish…, Attention: A media measurement Gold Standard? As new generations come of age, consumer behavior is changing around the world. Top 10 Global Consumer Trends 2020 provides insight into changing consumer values and priorities and demonstrates how consumer behaviour is shifting and causing disruption for business globally. They help us to know which pages are the most and least popular and see how visitors move around the site. Close Start adding items to your reading lists: Sign in. Using our expertise, consumer insights and research, we’re highlighting some of the key coffee trends for 2020 that you’ll be seeing everywhere. We bring together survey and social data from thousands of people around the world to find the biggest consumer trends for 2020. 3. We bring together survey and social data from thousands of people around the world to find the biggest consumer trends for 2020. But the impact of COVID-19 has shaken these developments and moved our world onto a new path. Looking at advertising alone, these eMarketer predictions show how the duopoly of Facebook and Google dominate paid media investments online, although offline media buys remain important for many larger brands.alfred. Nedbank CIB’s Munira Kharva talks to Business Day TV about how the pandemic has affected consumers’ disposable income 17 September 2020 … Keeps track of the cookie consent for a specific category on the current domain. Livestreaming + Shopping = Shopstreaming. As consumer concerns about environmental issues continue to rapidly evolve, expect to see people focus on reducing their footprint and extend the life use of products. This is used to customize your view of admin interface, and possibly also the main site interface. From new meat alternatives, to software for a thriving home life, to new models for education, there’s no shortage of innovation coming in 2020 … It helps visualize a perspective for developing business. Every year, Euromonitor International identifies emerging and fast-moving trends they expect to gain traction in the year ahead. for a BIGGER, BETTER and STRONGER market research industry in the new decade. These cookies do not store any personally identifiable information. They want access to a range of transport options that get them to their destinations quickly, seamlessly and in the most economical way. You can change your mind and revisit your permissions at any time. The number on the end is your individual user ID from the users database table. WELCOME TO CISCO DNA. They want outcome-based products that address their mental wellbeing needs, that prevent stress and help them sleep better​. want shorter, personalised content, which means they must trade their data Wordpress also sets a few wp-settings-{time}-[UID] cookies. As an industry, we are constantly working to anticipate consumer trends, to capitalise on the next big thing. In accordance with the European ePrivacy Directive, we must inform you that we place cookies on our website to improve your browsing experience, help us to understand our audiences better, enable us to provide you with personal content and ads shown to you based on your preferences and enable additional social media features you may wish to use. This site uses Akismet to reduce spam. Here are 9 emerging trends in consumer behaviour for 2020–2021 1. Consumers want to experience more variety in all areas of their lives, what they wear, eat, do and where they go. security and delivering products and services that add value to outweigh Reuse Revolutionaries, Euromonitor’s next trend highlights consumers who think they can make a positive contribution in the world with their purchases and look for alternative eco-friendly products. It highlights the desire for a waste-free future for the safety of the planet and human health. As a result, businesses are looking to models that avoid waste generation or use waste effectively. Cross-Media Measurement, XMM: no viewing – no outcomes! Used to register what ads have been displayed to the user. I thought this was a great article! – convenience and personal As new generations come of age, consumer behavior is changing around the world. Time starved yet knowledge hungry consumers are behind the Catch Me in Seconds trend. Business must learn about, understand and meet the needs of disabled communities by either developing new products and services or adapting existing ones. This cookie is used to determine when the internal slide-in/pop-up/embed module for newsletter opt-ins is displayed to the user. About Consumer Trends in General. With insight and analysis on shifting consumer trends over the next one, five and 10 years, discover how the seven consumer drivers will evolve markets like never before. Additionally, this cookie is provided with a unique ID that Google Analytics uses to ensure both the validity and the accessibility of the cookie as an extra security measure. Kim: From a consumer perspective, trends follow a predictable life cycle just like companies and products. and fast-moving trends they expect to gain traction in the year ahead. Projective Techniques in Qualitative…, ESOMAR’s latest Global Market Research report values…, Christmas 2020: Opportunities to close the year on…, Make your customer experience meaningful, not only frictionless, ESOMAR Insights Festival: thoughts from an industry newbie. The cookie is updated with each page view to strategy-business.com.  Convenience and experiences are leading to consumers wanting to invest in smart devices but concerns about their privacy means they are searching for ways of controlling accessibility to them and their information. WATCH: What drives global consumer trends? Keeps track of the cookie consents for on the current domain. It’s the undecideds! Top 10 consumer trends for 2020 by FMCG Business February 3, 2020 February 3, 2020. Trend 1. You may opt-out by. Used to check if the user's browser supports cookies. This cookie stores the type of referral used by the visitor to reach strategy-business.com, whether via a direct method, a referring link, a website search, or a campaign such as an ad or an email link. Learn how your comment data is processed. Explore our report on the top consumer trends in 2020. For what feels like forever, 2020 has been every trend watcher’s near-mythical time horizon. I expect to see many thought-provoking, creative ideas within these ten big consumer trends. or. desires, but they may also conflict with each other. This is changing consumers’ purchasing needs and behavior. Consumer Trends for 2020. This eight-part series looks at what consumer, market and industry insights will have the biggest impact. Inclusive for All is a trend focused on diversity and accessibility for everyone. US election answers from pollsters? The modern minefield of political opinion polling. 2019 on Twitter saw a number of moments that made call backs to the past. The views expressed by the authors in this publication are not necessarily those of ESOMAR. Businesses must be agile, adaptable and aware of consumer trends to retain market share. These trends respond to changing consumer values and behaviour which is causing disruption for business globally. The Frictionless Mobility trend is all about consumers wanting more flexible and personalised transportation methods​. Today’s consumers look to business to help them get to the information they need in a concise and impactful way. I am a Partner at Maven Ventures, an early-stage venture fund where I invest in emerging technology and software startups that can reach millions of people everyday and. In 2020, consumers’ comfort level with functions such as voice activation and control are expected to result in accelerated adoption of AI and robotics. Registers a unique ID that is used to generate statistical data on how the visitor uses the website. The website cannot function properly without these cookies and can therefore not be switched off in our systems. SHOBSERVATORY Research Chronicles: Retail Therapy….??? * By using this form you agree with the storage and handling of your data by this website. I am a Partner at Maven Ventures, an early-stage venture fund where I invest in emerging technology and software startups that can reach millions of people everyday and make their lives better. For many, 2019 was a year of change, growth, and looking forward to what’s still to come. control will be the big themes of 2020. If you opt out of storing this type of cookies you won’t see any less ads, but they might just not be as relevant. Market research provider Euromonitor International has released its 'Top 10 Global Consumer Trends 2020' report. Don’t miss this … As is the case in fashion, in food and drink, some trends are fleeting, while others evolve, have regular revivals, or become permanent fixtures. These 6 Direct-to-Consumer Trends to Watch in 2020 Expect more acquisitions and the home category heating up DTC brands are increasingly opening brick-and-mortar stores. Now, we’re about to live it. In most cases, this cookie is used to determine unique visitors to strategy-business.com, and it is updated with each page view. In 2020, we can see the huge impact that digital marketing has had over the last decade, and more. Top 5 Digital Consumer Trends in 2020. Create your account. Too late to talk consumer trends 2020… Evaluate your mobile app’s performance against industry benchmarks across different regions. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance. In our “Peak to Recovery” research, fielded in May 2020, we surveyed 1,300+ US consumers to ask how they were planning to discover, buy, and give over the coming months. control. Growing eco-anxiety is shifting consumers toward sustainable product choices for a guilt-free shopping experience. This string is then passed to the Analytics servers in the GIF request URL via the utmcc parameter. From new meat alternatives, to software for a thriving home life, to new models for education, there’s no shortage of innovation coming in 2020 and the decade ahead. Today, 1 in 4 adults in the developed world suffers from anxiety​. Consumers in 2020: 5 Trends to Watch As a new decade begins, continued change is the only certainty. I invest in early stage consumer software, digital health, and emerging technology startups, EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Michigan Economic Development Corporation BrandVoice, moms in the workforce is at 71.5% and rising, 63% of two-parent households with kids, both parents are employed, 30-50% of people are interested in cutting back on animal protein, and 95% of people who buy plant-based burgers are meat eaters. For business it is important to shape products and services more to local tastes and preferences. Proudly Local, Going Global sees consumers retreat from globalisation and hyper consumption to support local communities more as appreciation for and acceptance of different cultural social norms increases, driven by growing migration. The ARF…, Modeling consumer behaviors to react against the COVID-19…, What you should know about Bayesian statistics in…, Market Research at the speed of social media:…. Marketing cookies are used to track visitors across websites. Consumers must strike a balance between the Wordpress also sets a few wp-settings-[UID] cookies. Used by Google DoubleClick to register and report the website user's actions after viewing or clicking one of the advertiser's ads with the purpose of measuring the efficacy of an ad and to present targeted ads to the user. For backward compatibility purposes with sites still using the urchin.js tracking code, this cookie will continue to be written and will expire when the user exits the browser. The amount of data and privacy consumers will exchange for these 2020 consumer trends: the future of food & drink Hugh Evans Trends, Innovative flavours. This cookie is used to determine when the internal slide-in/pop-up/embed module for newsletter opt-ins is displayed or hidden to the user. And brands must find the right balance between building trust, providing All Rights Reserved, This is a BETA experience. This cookie is not normally present in a default configuration of the tracking code. For business it is important to explore new models to reach and deepen their relationships with consumers​ and build trust or develop products and services that add enough added value for consumers to encourage them to share. Purchase the Top Five Digital Consumer Trends in 2020 strategy briefing as part of our economies and consumers market research for January 2020. Thinking from the data, research & business intelligence industry - Published by ESOMAR, the global voice of the data, research and insights community, Research World focuses on innovation and best practice in market, opinion and social research and data analytics, helping readers stay abreast of the latest developments in tools, technology and applications. How will you drive competitive strategy in 2020, 2025, 2030 – and beyond? As consumers adapt and adjust to the changing times around them so do their priorities, interests, and the brands they engage with and purchase from. The PHPSESSID cookie is native to PHP and enables websites to store serialised state data. In 2020, business will have to connect with consumers on a more personal and emotional level to engage them; they will need to catch them with multisensory content that instantly grabs their attention. 2 CONSUMER 2020 WELCOME TO 2020. The first trend is Beyond Human where consumers’ acceptance of robots and Artificial Intelligence that perform more tasks traditionally carried out by humans is growing.​ While trust with AI and robotics is still evolving, consumers’ desire for simpler and more efficient lifestyles means they are investing in smart home appliances and virtual assistants that help them with household chores, organising their schedules or simply give them a better experience. Businesses are under pressure to develop and implement solutions that protect the environment and consumers from the effects of poor air quality. This is used to customize your view of admin interface, and possibly also the main site interface. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. have their cultural identity respected. They expect real-time updates that will enable them to adjust their journey at any point if needed, as well as offering easy ways to pay for their travel. Consumer Trends for 2020 . Viya is China’s star saleswoman with a $60 billion ecosystem of live online shopping. © 2020 Forbes Media LLC. The disabled community is one of the largest and most underserved groups in the world, accounting for more than 1bn people. XMM Disconnect? Read on for the future impacts of all things content, commerce and consumerism in 2020. The popularity of revivals and nostalgia. However, if you are debugging your site tracking and you use the ga.js tracking code, you should not interpret the existence of this cookie in relation to a new or expired session. Consumers, both those with or without disabilities, are pushing for products and services to be more accessible and inclusive, catering for everyone, no matter their circumstances. In an effort to help you navigate this rocky terrain, GroundTruth is once again using our knowledge, experience, and data to compile and share six consumer trends we’re likely to see in 2020 (hint: mobile, personalization, and the in-store customer experience trends … It’s here! Our aim is to uncover the structural winners of these changes. In 2020 we expect to see a larger shift in this type of purchasing behaviour. On the website it is used to establish a user session and to pass state data via a temporary cookie, which is commonly referred to as a session cookie. desirable benefits will vary by culture, territory and individual. They want to have an impact on the Businesses that enable this type of sharing community will win. Head of Lifestyles Research, Euromonitor, UK, Director of Consumer Trends, Euromonitor, UK. Products positioned for mood enhancement, relaxation, stress /anxiety relief and boosting brain function are becoming increasingly prevalent across industries​. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers. Here are ten areas where consumer preferences are shifting and evolving, based on reviewing more than a thousand business ideas in 2019 and meeting hundreds of early stage startup founders, mostly focused on launching new technology businesses targeting the consumer market. It is used to calculate search engine traffic, ad campaigns, and page navigation within strategy-business.com. Our website uses cookies. The ESOMAR Directory is designed for the sole purpose of facilitating your research ideas to find the right researc…. Download the report ${title} Digital addiction, privacy concerns, wearable wellness and the 5G boom – these were the trends we saw unfolding at the beginning of 2020. All information these cookies collect is aggregated and therefore anonymous. Used to send data to Google Analytics about the visitor's device and behaviour. Preserves user session state across page requests. This cookie name is associated with Google Universal Analytics - which is a significant update to Google's more commonly used analytics service. – are ahead. U.S. election pollsters: watch Florida for key indicators! ​ This conflict leads to Euromonitor’s Private Personalisation trend. We Want Clean Air Everywhere talks to consumers’ fight against air pollution and climate change. Consumer Trends 2020. Tomorrow’s consumer is being shaped by a number of ‘macro forces’ that food businesses cannot ignore, according to research from consultancy MMR Research. Stores unique session ID. Finally, we poll our research teams in our 15 global offices and ask them to rank this list and together make the final cut. Understanding the Why? Consumers are becoming increasingly mobile, moving faster than ever, valuing convenience and responding to their busy lives by finding new ways to relax. Sustainablility This cookie is typically written to the browser upon the first visit. As we head into a new year and a new decade, the pace of innovation and technology adoption has never been higher. Consumer preferences drive the economy. They eat more at home, buy more casual clothing. The __utmvcookie passes the information provided via the _setVar() method, which you use to create a custom user segment. We build a database of emerging trends and mine our trade interviews.