The trends presented in Euromonitor’s Global Trends Report (an annual Beauty News favorite) predict how consumers will shop based on cultural, social, and economic shifts, and show how companies can better prepare to cater to today’s ever-changing shopper. Be sure to access the report for a deep dive on each consumer trend and how it may impact your company.
Serving up tech to strengthen a consumer’s shopping journey is on every retailer’s hit list, but tech can’t match human nuances. Businesses must embrace Authentic Automation to strengthen the shopping journey or risk customer attrition.
Consumers have become methodical with their money, and businesses need to implement or develop solutions that help Budgeteers save, while also evaluating overhead expenses.
Control the Scroll
Internet activities are transitioning from mindless to mindful. Consumers want to consolidate and centralize their platform usage to optimize their time. To Control the Scroll, businesses must refine digital experiences.
Being cost-effective is about limiting and reducing, while consuming less yields sustainability. Organizations are stepping up to help Eco Economic consumers save money and the planet.
Gaming is a top form of entertainment – and the typical gamer stereotype has been debunked (nearly 50 percent of gamers are women). Today, businesses should tap into the gaming culture to convert players into payers.
Here and Now
Consumers are giving themselves permission to live a little. And they’re taking a short-term buying approach with discretionary items. The Here and Now consumer trend leaves opportunities for businesses to cater to the consumer looking for instant gratification.
Consumers are settling into new schedules and navigating a return to reality – despite the uncertainties that lie ahead. Companies should prepare for a surge in out-of-home consumption as consumers seek a sense of normalcy.
The fight for women’s rights is louder and more vital than ever, from reproductive autonomy to sexual health. Businesses should focus on the She Rises consumer, as well as how diversity, equity, and inclusion (DEI) impacts her.
People are past the point of burnout, and consumers are just doing their best to get by. Businesses can respond to this world-weariness with marketing that cuts through the noise, providing products and services that focus on immediate needs.
Young & Disrupted
Gen Z is a no-nonsense consumer group that stands up for its beliefs and puts itself out there. Brands need to step up in addressing these trendsetters and emerging professionals to be in tune with their expectations.
Be sure to access Euromonitor’s 2023 Global Consumer Trends Report to learn more about these top trends.