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CONSUMER TRENDS
Euromonitor study reveals the top global consumer trends in 2022
By our News Team | 2022
Report reveals the key themes businesses must understand to keep pace with rapidly evolving consumer preferences around the world.
Global market research company Euromonitor International this week released its the highly anticipated ‘Top 10 Global Consumer Trends 2022’ report.
The annual report defines the trends motivating consumer behaviour and the challenging business strategies that lie ahead in the coming year. Among the predictions are:
- 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.
- 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.
- Digital Seniors: Older consumers become savvier tech users. Virtual solutions must be tailored to the needs of this expanded online audience.
Photo by Andrea Piacquadio from Pexels
- Financial Aficionados: Democratised 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.
- The Great Life Refresh: Consumers focus on personal growth and wellbeing, making drastic life changes that reflect their values, passions and purpose.
- 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.
- Pursuit of Preloved: Second-hand shopping and peer-to-peer marketplaces flourish as consumers seek unique, affordable and sustainable items.
- Rural Urbanites: Consumers relocate to safer, cleaner and greener neighbourhoods.
- Self-Love Seekers: Authenticity, acceptance and inclusion are at the forefront of lifestyle choices and spending habits as consumers embrace their truest selves.
- The Socialisation 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,” says Alison Angus, Head of Lifestyles at Euromonitor International. “Reverting to a pre-pandemic playbook will not likely generate the same results moving forward.”
Download Euromonitor’s “Top 10 Global Consumer Trends 2022” report to uncover the incentives that will impact customer loyalty and purchase decisions this year. The report is available in English, Spanish, Portuguese, Mandarin and Japanese.
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