consumer trend

7/29/2019 consumer trend

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20 Emerging Consumer Trends

Assignment

By:- Abhisree Siingh

MM1214151

Bimm

PGDM Dual-A



1. Online sphere:-

In an online world or virtual world, social status is all about who you connect to

and who wants to connect to you. It also encompasses status gained from the

number of views for one's photos on Flickr, to the number of friends on

Facebook. Halo 3 racked up USD 170 million in sales on its first day of

availability, making it the hottest-selling title in video game history. To finding

out about whatever/wherever on anything before anyone else does.

2. Participative sphere:-

Especially for younger (and younger-at-heart) consumers, participation is the

new consumption. For these creative beings, status comes from finding an

appreciative audience, which is much the same way brands operate. No

wonder that it's becoming increasingly important to hone one's creative skills.

add your own status.

3. Consumer Vigilantes Speak up:-

On and offline protest is in the spotlight, pressurising brands towards greater

accountability and genuine innovative responses to these engaged consumers.

As world events have shown in the last year, consumers are dissatisfied and

ever more articulate – in protests that extend from neighbourhoods, cities and

countries to the internet. This trend sees consumers who are now less loyal to

brands.

4. Daily life:-

Consumers are revelling in their ability to track and control their health,identity, communication and buying habits.

Millions of consumers are enjoying the feeling of greater control both via

access to more information about themselves, product as well as greater tech-

assistance.

5. Emerging Market Shoppers:- Enjoying spending

They are now enjoying malls and chain stores with shopping centres now also

attractive to the less well-off.



6. Reality Culture and Consumers :-

Scripted reality or celebrities living the dream - consumers are gripped, sharing

views and being moved to change their purchasing behaviour.

7. Youth :-

Young consumers are facing up to a different, less predictable reality in terms

of purchasing aspirations, work, living set-ups and role models.

Many marketers are focusing on the youth relationship to and expression

through tech-led communications in their wish to decipher this transient

audience segment.

8. Weight as a hot topic:-

Young respondents to Euro monitor International's Global Youth Survey claim

to skip meals two or more days a week – particularly breakfast. In the 15

leading youth markets, one-third of 16-24 year olds claim to be trying to lose

weight.

9. Tech. savvy E-comerce:-

Consumers are getting savvier in online purchase specially in urban India

(metro cities) and the concept of fell and touch before buying a product is no

longer a must have psychological barrier to young buyers as they are ready to

experiment.

10. Country wise:-

In Russia, consumers are discovering their taste at home for fresh and varied

baked goods they may have sampled abroad, according to Modern Bakery-

Moscow. While overall cigar consumption is falling, in South Africa luxury

cigars have become fashionable.

11. Random acts of kindness:-

Consumers’ cravings for realness, for the human touch, ensure that everything

from brands randomly picking up the tab to sending a surprise gift will be one

of the most effective ways to connect with (potential) customers especially

beleaguered consumers in North America, Europe and Japan.

The rapid spread of social media platforms such as Twitter and Facebook

among consumers gives brands previously unavailable insight into their moods,



wants and locations, and also provides a new direct channel to deliver acts of

kindness.

12. Urbanization: -

Urbanization will be one of the absolute mega trends for the coming decade,

as only approx. 35 to 40 % of population currently living in urban areas. Urban

consumers tend to be more daring, more liberal, more tolerant, more

experienced, more prone to trying out new products and services. In emerging

markets, these effects tend to be even more pronounced.

13. Pricing:-

Brands target consumers with offers and features such as instant mobile

coupons and discounts, online group discounts, instant sales, and dynamic

pricing based on real-time supply and demand.

14. Made for Emerging Economies:-

Expect an increasing number of ‘Western’ brands to launch new products or

even new brands dedicated to consumers in emerging markets. Growth in

consumer spending in emerging markets far outpaces consumer spending in

developed markets, and Western brands are favoured more than local brands

in emerging markets. Western brands including Levi-Strauss, Apple and BMW

have already capitalized on this trend.

15. Status Symbols:-

Recommends that brands supply customers with any kind of symbol, virtual or

‘real world,’ helps them display to peers their online contributions, creations or

popularity. This includes personalized social networking memorabilia as well as

location-based games and contests which award virtual or real-world prizes.

16. Wealthy:-

Growing numbers of consumers will expect health products and services to

improve their quality of life, rather than merely treating illnesses and ailments.

Products such as mobile health monitoring devices, as well as online health

apps and health-dedicated social networks, will serve the multichannel

wellness needs of consumers.



17. Emerging Generosity:-

This trend is about brands and wealthy individuals from emerging markets

(especially India) who will increasingly be expected to give, donate, care and

sympathize, as opposed to just sell and take. And not just in their homecountries, but on a global scale. It’s a profound cultural change and a consumer

demand that their counterparts in mature markets have had a few years to

getting used to.

18. Planned Spontaneity:-

With lifestyles having become fragmented, with dense urban environments

offering consumers any number of instantly available options, and with cell

/smartphones having created a generation who have little experience of making (or sticking to) rigid plans Brands can expect to see consumers rushing

to sign up to services that allow for endless and almost effortless mass

mingling with friends, family, colleagues or strangers. A developing segment of

this trend is consumers signing up for mobile services that passively and

constantly broadcast their location.

19. Eco-Superior:-

Brands should expect a rise in “eco-superior” products; products that are notonly eco-friendly, but superior to polluting incumbents in every possible way.

Brands should think of a combination of eco-friendly yet superior functionality,

superior design, and/or superior savings. A substantial subset of consumers is

already bestowing recognition and praise on Prius drivers while scorning SUV

owners.

20: Owner-less:-

Fractional ownership and lifestyle leasing business models have re-emerged,with services such as car-sharing and public bike programs enjoying success

around the globe. For many consumers, access is better than ownership.

consumer trend

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