Global market research company Euromonitor International released its “Top 10 Global Consumer Trends 2022” report today (Jan. 18). While not all have a direct application to food, these tendencies will motivate consumer behavior and challenge business strategies in the new year:
- 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.
- Financial Aficionados: Democratized 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: Secondhand shopping and peer-to-peer marketplaces flourish as consumers seek unique, affordable and sustainable items.
- Rural Urbanites: Consumers relocate to safer, cleaner and greener neighborhoods.
- Self-Love Seekers: Authenticity, acceptance and inclusion are at the forefront of lifestyle choices and spending habits as consumers embrace their truest selves.
- The Socialization 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.”
