Global market research company Euromonitor International reveals the trends that will define consumer behavior and influence business strategies this year in a new report, “Top 10 Global Consumer Trends 2021.” The COVID-19 pandemic created, influenced or accelerated each trend.
In 2021, consumers:
• 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.
• 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.”