Thursday, May 19, 2022

Euromonitor reveals 2022 consumer trends

Euromonitor International has released its ‘Top 10 Global Consumer Trends 2022’ report.

According to the global market research company, the annual report defines the trends motivating consumer behaviour and challenging business strategies in the year ahead.

The 10 global consumer trends for 2022 are:

  • Backup planners. Consumers will 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 will drive environmental activism for a net-zero economy. In 2021, says Euromonitor, 35% of global consumers actively reduced their carbon emissions.
  • Digital seniors. Older consumers will become savvier tech users. Virtual solutions must be tailored to the needs of this expanded online audience.
  • Financial aficionado. Democratised money management will empower consumers to strengthen financial literacy and security. More than half of global consumers, according to Euromonitor, believe they will be better off financially in the next five years.
  • The great life refresh. Consumers will focus on personal growth and wellbeing, making drastic life changes that reflect their values, passions and purpose.
  • The metaverse movement. Immersive, 3D digital ecosystems will begin to transform social connections. Global sales of AR/VR headsets grew 56% from 2017 to 2021, says Euromonitor, reaching $2.6 billion last year.
  • Pursuit of preloved. Second-hand shopping and peer-to-peer marketplaces will flourish as consumers seek unique, affordable and sustainable items.
  • Rural urbanites. Consumers will relocate to safer, cleaner and greener neighbourhoods.
  • Self-love seekers. Authenticity, acceptance and inclusion will be at the forefront of lifestyle choices and spending habits as consumers embrace their truest selves.
  • The socialisation paradox. Fluctuating comfort levels will create a conflicting return to pre-pandemic life. In 2021, says Euromonitor, 76% of global consumers took health and safety precautions when leaving home.

“Businesses need to transform alongside rapidly evolving consumer preferences,” says Euromonitor Head of Lifestyles Alison Angus. “Reverting to a pre-pandemic playbook will not likely generate the same results moving forward.”

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