Top 10 Global Consumer Trends 2022 from Euromonitor International
Euromonitor International has published its annual report: “Top 10 Global Consumer Trends 2022.” The report is available in English, Spanish, Portuguese, Mandarin, and Japanese. Click here for a free download.
From the introduction:
1) The big picture
Every year, Euromonitor International identifies emerging and fast-moving trends that are expected to gain traction in the year ahead. These trends provide insight into changing consumer values, exploring how consumer behavior is shifting and causing disruption for businesses globally.
Each of the 10 trends in this report follows the same format:
- Overview and defining characteristics
- Consumer behavior and motivation
- Business environment and impact
- Outlook and strategic recommendations
2) What are we in 2022?
Change was the only constant over the past two years. Radical lifestyle shifts motivated consumers to make intentional, mindful, and ambitious decisions. Now, the world is on the road to recovery. Consumers are putting their plans into motion, taking chances and seizing the moment. Access and action are the driving forces behind the top 10 global consumer trends in 2022. Resilience and adaptability were tested in 2021, forcing consumers to relinquish control and embrace ambiguity. This year, consumers are taking back the reins and paving a path forward based on their passions and values.
These are the 10 global consumer trends identified in the report. As noted, each is discussed more fully in the 59-page, downloadable PDF.
1) Backup Planners: Consumers find creative solutions to purchase their go-to products or search for next best options as supply chain disruptions cause massive shortages.
2) Climate Changers: Eco-anxiety and the climate emergency drive environmental activism for a net-zero economy. In 2021, 35% of global consumers actively reduced their carbon emissions.
3) Digital Seniors: Older consumers become savvier tech users. Virtual solutions must be tailored to the needs of this expanded online audience.
4) Financial Aficionados: Democratized money management empowers consumers to strengthen financial literacy and security. More than half of global consumers believe they will be better off financially in the next five years.
5) The Great Life Refresh: Consumers focus on personal growth and well-being, making drastic life changes that reflect their values, passions, and purpose.
6) The Metaverse Movement: Immersive 3D digital ecosystems begin to transform social connections. Global sales of AR/VR headsets grew 56% from 2017 to 2021, reaching $2.6 billion last year.
7) Pursuit of Preloved: Secondhand shopping and peer-to-peer marketplaces flourish as consumers seek unique, affordable, and sustainable items.
8) Rural Urbanites: Consumers relocate to safer, cleaner, and greener neighborhoods.
9) Self-Love Seekers: Authenticity, acceptance, and inclusion are at the forefront of lifestyle choices and spending habits as consumers embrace their truest selves.
10) The Socialization Paradox: Fluctuating comfort levels create a conflicting return to pre-pandemic life. In 2021, 76% of global consumers took health and safety precautions when leaving home.
“Businesses need to transform alongside rapidly evolving consumer preferences,” said Alison Angus, head of lifestyles at Euromonitor International. “Reverting to a pre-pandemic playbook will not likely generate the same results moving forward.”
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