Global market research company Euromonitor International reveals the trends that will define consumer behavior and influence business strategies this year in a new report, “Top 10 Global Consumer Trends 2021.” The COVID-19 pandemic created, influenced or accelerated each trend.
In 2021, consumers:
· Expect purpose-driven initiatives that support the triple bottom line—people, planet and profits (Build Back Better). Nearly 70% of professionals expect consumers to be more concerned about sustainability than before COVID-19.
· Desire the ease of on-the-go, impulse and spontaneous occasions and simplicities of pre-pandemic life (Craving Convenience).
· Reconnect with nature and turn to open-air venues for leisure and to safely socialize (Outdoor Oasis).
· Use digital tools to stay connected at home and to facilitate safer procedures in brick-and-mortar outlets (Phygital Reality).
· Gain newfound flexibility, scheduling activities in a non-conventional order to suit individual time demands (Playing with Time).
· Distrust media and governments, defying misinformation and putting their needs first (Restless and Rebellious). In 2020, 29% of global consumers were actively involved in political and social issues.
· Demand contactless services, exceptional sanitation standards and products that enhance hygiene and immunity (Safety Obsessed).
· Reassess priorities and identities in pursuit of a more fulfilled life and improved mental resilience (Shaken and Stirred). Depression and mental health had a moderate or severe impact on 73% of global consumers’ everyday lives last year.
· Budget cautiously and purchase value-added and affordable products and services (Thoughtful Thrifters).
· Find a new work-life balance, as remote collaboration redefines the traditional office environment (Workplaces in New Spaces). More than half of global consumers previously had a strict boundary between work or school and personal life.
“2021 will be a pivotal year,” says Alison Angus, head of lifestyles at Euromonitor International. “Tailoring strategies to these emerging consumer trends will empower businesses to endure the unexpected and overcome adversities.”
Download Euromonitor’s “Top 10 Global Consumer Trends 2021” report to explore the values and expectations that will drive consumer behavior this year. The report is available in English, Spanish, Portuguese, Mandarin and Japanese.
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