Trends That Will Shape the Way We Shop, Eat and Live This Year

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Here are predictions for global consumer trends in 2022:

supply chain solutions

Product shortages and disruptions have led consumers to use subscription services or buy secondhand ones to find what they want. Companies need to adapt to these individuals by offering a choice of items. The virtual queue system provides an opportunity for buyers to place a line in line and hope they receive a product, the research firm said. Offering rental or refurbished products is another chance to maintain that customer’s loyalty by enticing them with special or presale items.

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Climate change becomes top of mind

At the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change, otherwise known as COP26, has forced consumers to rethink their daily actions regarding climate change. People want to reduce food waste, reduce their plastic use and recycle more. Sixty-seven percent of consumers surveyed by Euromonitor said they tried to do something every day to make a beneficial impact on the environment. Climate change and sustainability are trends that have been developing over the years, but in 2022, young consumers will have a greater impact on their peers, parents and grandparents.

Senior citizens optimize their digital lives

The pandemic forced many people to adjust their behaviour, such as exercising with an online cycling coach or buying groceries online for the first time. This trend was especially popular among seniors. Now, this group of consumers wants to continue their digital use, and companies must respond accordingly by providing training, support and creating easy-to-use products, the research firm said. For some companies, this could mean that one app or website works equally well on all types of devices, such as laptops or smartphones.

take control of finances

The firm said that the volatility of the pandemic has prompted many consumers to become more aware of their finances as well as invest in and try cryptocurrencies. Companies should offer ways to educate consumers about their financial services or make products more accessible, such as reducing fees.

Prioritizing personal values and goals

Thirty-four percent of people in the latest survey preferred to spend money on experiences as opposed to products in 2021, compared to 27% in 2015. Companies need to address change by being flexible to the wishes of consumers, whether they are still working or looking for a new job opportunity. “Last year, we were talking about consumers rethinking their preferences and what their lives want to be,”.“This year … they’re really making a difference.”

Metaverse turns experiment into reality

Consumers who were forced to conduct their lives online via video chat are now changing their behavior to engage with the digital world and communities, The research firm said virtual concerts, non-fungible token sales and dressing avatars are behaviors that consumers are exploiting and some companies are getting from them. “No business can afford to think about this,” “Because it’s happening and consumers are moving there.”

loses the secondhand blur

Buying second hand goods is no longer a stigma. It has become a sought-after option for consumers who want to have unique items or are shopping on a budget. Options like gift cards or buyback programs that encourage secondhand shopping behavior from consumers are winning them over. Companies must meet this demand by addressing consumers who want to bring in older versions of items and receive vouchers or have them repaired,

City dwellers opt for suburban and rural amenities

People who lived in cities and did not move to the suburbs during the pandemic now want some of the benefits of living outside the city, such as access to green spaces. The research firm said others want more services closer to their homes, with many still working from home. Companies should aim to bring stores and services closer to them that don’t require a train or car ride. “Making everything accessible to consumers in under 15 minutes,”.

Self-care and indulgence in happiness

Twenty-six percent of consumers expect to be happier over the next five years, the company said. To reach that nirvana, people are buying products that help their mind and body, such as cannabis products or meditation courses. Personalized shopping experiences that can anticipate consumer needs will become an important component in reaching these people.

Hybrid approach to socialization

As the pandemic continues, consumers are becoming fragmented: those who want to go back to their normal lives and engage in social activities, and those who remain vigilant. This means hybrid possibilities, such as waiving digital visits or cancellation fees, can meet the needs of different consumers, the firm said. Serving this divided consumer base requires products and services to become versatile and seamless,.