A new report on consumer trends from Euromonitor International has indicated that more and more people are willing to buy convenience style products to make their busy modern lifestyles easier. The Top 10 Global Consumer Trends 2015 report found that consumers around the world are looking to maximise their time by looking for products that cut out arduous processes or services and products that can combine multiple needs. The report references one Swedish taxi company that offer in-car therapists at $165 per hour to get high powered, time poor business types to their next meeting in a stress-free state.
“Post recessionary consumers are prepared to pay for products that simplify their hectic ‘on-the-go’ lives.” Said Daphne Kasriel-Alexander- consumer trends consultant at Euromonitor. She went on to say “Technology plays a big part in attaining convenience and omni-channel shopping options create a seamless link between the virtual work and real world shops with wide consumer appeal.” This indicates a greater need as a retailer to make your items available on as many mediums as possible – real world, desktop and mobile device friendly platforms.
The report found that collaborative consumption and a sharing culture of products and services is on the rise. This is something that mainstream brands are already working on achieving. For example; US clothing brand Patagonia has recently partnered with eBay to re-distribute pre-owned items and returns. This sharing mindset gives rise to a multitude of opportunities from crowd-funding to community gardening and collaborative, multi-organisation workspaces.
Daphne Kasriel-Alexander added that this year would see increased growth in sharing or leasing type businesses- disrupting the traditional ways in which we think of space and ownership. “Consumers are increasingly pre-occupied with access to goods rather than owning them outright”.
The global consumer trends to look out for in 2015 according to Euromonitor are;