The 6 trends that shape the new consumer landscape

Market intelligence agency Mintel has revealed the six consumer trends its expert analysis concludes impact the current international industries and markets and predicts how these trends will play out in coming years. Mintel’s research shows the trends and values in which today’s consumers are becoming increasingly interested. As consumer interests tend to shape the market, these trends will likely have a strong impact on future production throughout various industries.

Wellness

Mintel notes that consumers have become more concerned with their “total wellbeing,” choosing to meet their needs with solutions that provide benefits to their personal health. “In 2019 and beyond, growing consumer curiosity with the microbiome shows no signs of abating,” said Simon Moriarty, Mintel’s Director of Trends EMEA, in a statement. “Consumers are looking externally to their surroundings and internally towards their physical and mental wellbeing, expecting holistic approaches to wellness that produce the same benefits.”

Challenges

According to Mintel’s analysis, consumers are showcasing a growing desire to take on new challenges. Moriarty noted that consumers’ appetites for adventure are growing, which he partially attributes to social media usage. “Consumers are becoming more willing than ever to expand their comfort zones and push themselves to the limit with new experiences,” Moriarty said.

Questioning plastic

Consumers are rethinking how their own behaviors affect the environment, particularly with plastic. “As consumers continue to challenge brands over the perils of plastic waste, the development of recyclable products and packaging that are convenient for consumers to separate will be critical,” Moriarty said. “In 2019 and beyond, expect to see more sponsored ‘reverse’ vending machines and bring-your-own-mug schemes.” Moriarty also acknowledge that as it change happens on a wider scale, working in groups will be an important tactic. He suggested companies and organizations look to team up as a way to make changes.

Importance of display

Mintel predicts that as digital presences become more important to relevance in today’s market, presentability will be of huge importance to both consumers and brands. Moriarty points out that a single misguided social media post can lead to public backlash. “Today’s consumers are not afraid to speak out,” he said. “In the UK, 28 percent of Millennial consumers say they feel very confident about expressing a different opinion in a conversation.” Moriarty believes that a strong social media strategy and employee etiquette training are positive techniques to meet this consumer trend.

Combating isolation

As digital connectivity decreases the need for physical social interactions, Mintel predicts that consumers will feel social isolation and therefore demand products that help them learn to disconnect from digital outlets. “People are questioning the benefits of social media as in the UK, a fifth of consumers who have cut down their social media usage or taken a break from it in the last year say they have done so because they were worried about their mental health,” Moriarty said. “Facilitating connections and creating unique spaces where communities can be built is the next stage in cultivating customer loyalty.”

Learning Adulthood

Mintel’s research concludes that the concept of adulthood has changed, with consumers acknowledging the fact that they are unique from other consumers. “Despite more convenience and opportunity, the challenges of adulthood have not disappeared. Those looking to capitalize on this will serve as a resource for these hurdles, by making responsibilities feel more manageable and even fun,” Moriarty said. “Flexibility is the name of the game. With a growing remote workforce, consumers’ daily lives are fluid and brands have to adapt to lifestyles no longer defined by 9-5 work cultures.”

Photo: Pexels.com
 

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