Four Consumer Driven Trends
1. Value as necessity
Although Covid-19 has seriously impacted the way FMCG consumers view their budgets and spending, this trend has been emerging for some time. Part of it can be attributed to the general economic downturn in the last few years as well as an emerging trend towards sustainability. The growing “shop-stop” movement to minimise the accumulation of “stuff” has changed the way people view the things that they buy. Value has become a big deciding factor and “cheaper” or “more” as a selling point is fast losing its appeal. A strong focus on the long-term value of a service or product will continue to gain traction in the foreseeable future.
2. Time is a luxury
Although consumers are more thoughtful now with what they buy, they have become attracted to vendors that offer speed and convenience. Ease of purchasing got a huge boost during lockdown. Everything from the bourgeoning delivery market and tap-to-pay to pre-ordering for quick pick-up. Faster processes through the sales experience or digital innovation is a strong way forward for retailers who wish to capitalise on timesaving as a value proposition.
3. Healthy living
Beyond the classic health-based products and services boom that have grown steadily over decades, the “healthy lifestyle” mindset is emerging as an important positioning strategy for retailers. From appliances, cars, clothing, food, services, tech and everything in-between, retailers must find a way to establish themselves as Health Lifestyle Partners. Developing offerings, kits or products ranges that speak to health and ongoing physical and environmental vitality will serve as strong Drawing cards for your brand.
4. Ethical considerations
Tying in closely with the first trend towards value as a necessity, buyers across the spectrum (although a majority under 35 yrs.) are putting a far larger focus on the ethics behind retailers and their products. Ethical trading and sourcing as well as sustainable packaging are in the forefront. Consumers are also keenly interested in labour practices within a company. Focusing on the core values of your organisation and the ethical pillars within your working processes can positively influence your brand.
Source: Trade Intelligence
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