Faster shopping and the transformation of old age are two of the trends identified by Euromonitor International on its annual report of the trends that will shape the consumer landscape this year.
The “Top 10 Global Consumer Trends for 2017” report noted that 2016 was defined by uncertainty with growth in global consumer expenditure slowing to 2.4% in real terms – the lowest rate of growth since the financial crisis.
“Consumers are now more demanding of products, services and brands than ever before and are using digital tools to articulate and fulfil their needs. They want authenticity in what they buy and expect elements of personalization in mass produced as well as upscale items,” stated Daphne Kasriel-Alexander, consumer trends consultant at Euromonitor International.
Euromonitor’s 2017 top global consumer trends include:
Ageing – A changing narrative: Transforming what it means to be older;
Consumers in training: Giving children more decision-making power;
Extraordinary: Expanding the mass to accommodate needs of a larger consumer base;
Faster shopping: Speeding up business models to provide the rapid convenience consumers demand;
Get real – The allure of authenticity: Exploring the increased desire for “real,” “genuine” and “natural;”
Identity in flux: Consumers looking for their identity in a post-gender world;
Personalize it: Shifting from “having to being” with customized products and experiences;
Post-purchase: Beyond fulfilling to predicting;
Privacy and security: Personal safety and the allure of home; and
Wellness as a status symbol: Looking wellness-ready and the rise of boutique health.