Global market research company Euromonitor International has revealed the trends that will define consumer behavior and influence business strategies in 2021, even as it reminded businesses that the Covid-19 pandemic will create, influence, or accelerate each of the trends.
The “Top 10 Global Consumer Trends 2021,” are:
- Expect purpose-driven initiatives that support the triple bottom line—people, planet and profits (Build Back Better). Nearly 70% of professionals expect consumers to be more concerned about sustainability than before COVID-19.
- Desire the ease of on-the-go, impulse and spontaneous occasions and simplicities of pre-pandemic life (Craving Convenience).
- Reconnect with nature and turn to open-air venues for leisure and to safely socialize (Outdoor Oasis).
- Use digital tools to stay connected at home and to facilitate safer procedures in brick-and-mortar outlets (Phygital Reality).
- Gain newfound flexibility, scheduling activities in a non-conventional order to suit individual time demands (Playing with Time).
- Distrust media and governments, defying misinformation and putting their needs first (Restless and Rebellious). In 2020, 29% of global consumers were actively involved in political and social issues.
- Demand contactless services, exceptional sanitation standards and products that enhance hygiene and immunity (Safety Obsessed).
- Reassess priorities and identities in pursuit of a more fulfilled life and improved mental resilience (Shaken and Stirred). Depression and mental health had a moderate or severe impact on 73% of global consumers’ everyday lives last year.
- Budget cautiously and purchase value-added and affordable products and services (Thoughtful Thrifters).
- Find a new work-life balance, as remote collaboration redefines the traditional office environment (Workplaces in New Spaces). More than half of global consumers previously had a strict boundary between work or school and personal life.
“2021 will be a pivotal year,” says Alison Angus, head of lifestyles at Euromonitor International. “Tailoring strategies to these emerging consumer trends will empower businesses to endure the unexpected and overcome adversities.”