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| Source: Euromonitor. |
According to Euromonitor’s Top 10 Global Consumer Trends 2015 report, consumers are time-poor, seek convenience, greater choice, global availability and instant gratification. What they want is to maximise their time and money by finding products and services that combine multiple needs. For example, a Swedish taxi company offers in-car therapists, priced at US$165 per hour, for their stressed and time-pressed users.
“Post-recessionary consumers are prepared to pay for products that simplify their hectic on-the-go lives,” said the report’s author and Euromonitor Consumer Trends Consultant, Daphne Kasriel-Alexander. “Technology plays a big part in attaining convenience, and omnichannel shopping options creates a seamless link between virtual and 'real world' shops with wide consumer appeal.”
According to the report, this year will also see a rise in collaborative consumption and a culture of sharing products and services, something mainstream brands are already reacting to. For example, clothing brand Patagonia has partnered with eBay to redistribute pre-owned items. The sharing mindset has given rise to a plethora of collaborative endeavours from community gardening, to grouped workspaces, and sharing via crowdfunding.
“In 2015, the sharing economy is growing and disrupting the way in which individuals think of space and ownership. Consumers are increasingly preoccupied with access to goods rather than owning them outright,” said Kasriel-Alexander.
The Top Global Consumer Trends of 2015:
- Buying Convenience
- Malls and Shopping Centres in Community Mode
- Privacy Matters
- Consumption as a Route to Progress
- Influencers: More Like Us
- Let’s Share: The Rise and Rise of Lightweight Living
- Millennials
- Shopping the World
- Virtual to Real and Back: A Smoother Convergence
- Wired and Well: Connected Health
Read the report here.
