The 10 global consumption trends in 2019Jan 23, 2019 4371 views
Consumer behavior and interest is changing - and brands need to understand the new movements that are being advertised if they want to continue to talk to their audience in an efficient and innovative way.
A new study by market research firm Euromonitor International reveals the main consumer trends that emerge in 2019 and which will dictate the coming years. Signed by Alison Angus and Gina Westbrook, the Global Consumer Trends 2019 survey.
Overall, the research points out that intelligence to know how to use the immense range of options and decision-making power is essential in 2019. "The big challenge is knowing how to make sense of everything," the study says.
The authors point out that consumers are getting smarter ("all are experts") and self-sufficient. In addition, they demand more and more authenticity and immediacy. "Consumers are searching for authenticity, differentiated products and experiences so they can express their individuality. Consumers in developing countries are reevaluating their consumption habits, abandoning exaggerated materialism and seeking simplicity, authenticity, and individuality, "writes Angus and Westbrook.
Ethical and environmental issues are also no longer being niche demands and scanty brands to become essential points for anyone. The anti-plastic movement of 2018 (against the straw, for example) showed that environmental concern has come to stay.
The authors also emphasize the valuation of individual time, for a "solitude" (which is different from loneliness), ease of contact via digital platforms and also the issue of aging: older generations want to be remembered by brands. "Baby boomers have a lot more in common around values and priorities with the millennials and younger generations that many can imagine," they write.
Here are 10 consumer trends in 2019:
1. Older people want to feel and act as younger - and be treated as such
In 2019, the "agnostics of age" arise, those who do not believe more than age or old age are synonymous with "getting worse". They do not take a passive view on aging and take care of appearance and health more and more. Research shows that the generation that was born between 1946 and 1964 is also concerned with technological innovations, new apps and new smartphones.
With aging populations around the world (in Japan, more than half of the population will be over 50 by 2025), this share of consumers becomes essential for brands and companies, which must see growth potential in the age bracket. In fact, this population range has more purchasing power than the younger ones.
2. Back to basics: less is more
Consumers tend, more and more, to reject the generic, mass-produced products. Preference is now given to simplified and focused products. Consumers are also reevaluating their consumption habits, rejecting materialism and consumerism, and giving preference to simpler, more authentic experiences. Buying food locally, from small producers, exemplifies the trend.
In the beverage market, the increase in consumption of craft products (such as craft beers) reflects the anti-massification trend. In the beauty market, products called DIY (Do It Yourself - Do It Yourself) have also seen a boom of interest and consumption. According to Kseniia Galenytska, senior analyst at Euromonitor: "The demand for products using natural ingredients has grown. 29% of consumers are looking for all-natural skin products and the demand for total ingredient transparency has reached 19% of consumers. "
3. Conscious Consumption
Consumers are increasingly aware and look for positive decisions in the way they buy and consume a product or service. Mindfulness came to consumption. This growing share of consumers are aware of the negative impact that exaggerated and irresponsible consumption is causing in the world. This consciousness embraces humans, animals and the environment.
Veganism and eco-friendly products gain more space with this trend among consumers around the globe. In developing countries, consuming red meat is still seen as a sign of greater purchasing power and prosperity. But even in these countries, such as Nigeria, Pakistan and Brazil, vegetarian diets have gained ground. Products that do not promote animal testing are also being increasingly demanded. According to the study, "ethics became mainstream," that is, it became popular, and the concept of ethically responsible business changed, encompassing much more topics.
4. Digitally joined
The transformation of digital media and technology, which in the last decade has evolved from "communication facilitator" to the creation of new and multidimensional forms of interaction, will continue to create new collective experiences and shape the way in which consumers connect and collaborate.
Entire industries are already being transformed to offer solutions and virtual options, such as the medical and law areas. The virtual works and interactions, where it will be possible to work and collaborate in team, even at a distance, will be more and more common.
According to Mattew Hudak, analyzes Euromonitor research, the virtual reality arising in the world of video games will expand to all professional areas. According to him, the challenge of the next generation of new technologies will be to balance the ease of use of the consumer (user-friendly technology) with the high technical capacities of the service or product in question.
5. Everyone is a specialist: knowledge is power
In an era of high accessibility, where everything is within reach of a button, consumers know they can count on instant information to decide their purchases. The relationship between retailer and consumer has changed. If before they were looking for certain brands or experts they could trust to make their decisions, now very well informed consumers make decisions on their own and talk to each other for advice and information.
In social networks, consumers do not need brands to report problems, make criticisms, or praise a product or service. The power of information is in the hands of those who consume. In addition, only the power of "influencers" in social networks grows. In this wave, the old maxim "the customer is always right" has become even more of an unquestionable truth.
The power of these consumers shapes e-commerce, where websites have evaluations and rankings created by buyers, who constantly monitor prices and quality of products and services. There is no room for lack of transparency. Any error is immediately reported and shared.
6. Self-sufficiency: the value of "being alone"
The time when the private and professional frontier disappeared (generating the workaholic problem) lagged behind, as did the time created by social networks where people were anxious to feel that they were "losing something" by staying home ". In 2019, the valuation of time alone, from the moment "I", came to stay. There is nothing wrong with staying at home enjoying your company, away from e-mail, events and social networks.
Another trend shows consumers more careful about what they shared online, valuing privacy more. A lot of people realized that they could not stay 24 hours a day "competing" in terms of experience and happiness on social networks. "Real-life" experiences have once again been valued as escape from the constant stress of life online.
7. "Let me do it" - Consumers can take care of themselves
Consumers are cutting the "middle of the field," the midway professionals, and doing it themselves. Without consulting a professional, people solve their own problems with versatility. And if consumers once got carried away by the hype of new products, now they are looking for simple and effective solutions that fit what they want. With an eye, for example, in health, these new consumers seek practical food solutions, valuing organic products.
To achieve personal happiness and health results, these consumers are willing to spend more if needed. Sarah Petersson, senior researcher at Euromonitor, says: "Being able to 'take care of yourself' is seen as a luxury that allows people to be more versatile, expand their possibilities. This trend reflects how people eat, drink and take care of their health. "
8. A world without plastic - Consumers more attentive to waste
The struggle for a society free from "plastic slavery" has gained momentum in recent years and will only grow in 2019, with more attentive consumers who reject products whose plastic packaging is disposed of with only one use or those beauty products that bring plastic microparticles that pollute the oceans. For its versatility, 63% of the packaging of products such as food, beauty products and household products come in plastic packaging. But consumer use will be more conscious, seeking recycling, reuse and conscious consumption.
With this trend, consumers will show themselves to spend more on products with recyclable materials and whose brands are effectively concerned about the environment.
9. I want it now! - Fast and trouble-free solutions
Efficiency is the key word. Consumers are more busy and want services and products that are delivered quickly and in the simplest possible way, without problems. Concerned about having more time and paying more attention to their work and personal life, these consumers want to worry as little as possible about the practicalities of life: a purchase in the market, a new service on the cell phone: everything needs to be done in the most gentle way possible, requiring the least possible concern.
Time is also, more and more, precious. A good portion of consumers in 2019 will tend to spend more money if the service or product saves them time. 5G technology, big data and artificial intelligence will provide services and products that will save a lot of time from their captive consumers.
10. Loving single life
People over 50 are getting more single and enjoying this new life. Lifetime or newly widowed or separated singles, these consumers have more consumer power and are adopting a lifestyle unique to young singles. Over the next decade, growth in the number of households with singles will be greater than the growth of any other type of household.
A matter of convenience and cost are essential for these consumers. They prioritize financial security and think about making consumer decisions more than younger generations.