Euromonitor reveals important consumer behavior trends in 2021
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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, according to a report by the Warsaw Business Journal.
In 2021, consumers will expect purpose-driven initiatives that support the triple bottom line – people, planet, and profits. Nearly 70% of professionals expect consumers to be more concerned about sustainability than before COVID-19.
They will also desire the ease of on-the-go, impulse and spontaneous occasions, and simplicities of pre-pandemic life, including reconnecting with nature and turning to open-air venues for leisure and to safely socialize.
Consumers will use digital tools to stay connected at home and to facilitate safer procedures in brick-and-mortar outlets. They will also gain newfound flexibility, scheduling activities in a non-conventional order to suit individual time demands.
Another trend will be connected with growing distrusting of media and governments, defying misinformation, and putting their needs first. In 2020, 29% of global consumers were actively involved in political and social issues.
We will demand contactless services, exceptional sanitation standards, and products that enhance hygiene and immunity and reassess priorities and identities in pursuit of a more fulfilled life and improved mental resilience. Depression and mental health had a moderate or severe impact on 73% of global consumers' everyday lives last year.
Important trends will be as well to budget cautiously and purchase value-added and affordable products and services. We will have to find a new work-life balance, as remote collaboration redefines the traditional office environment. More than half of global consumers previously had a strict boundary between work or school and personal life.
"2021 will be a pivotal year. Tailoring strategies to these emerging consumer trends will empower businesses to endure the unexpected and overcome adversities," Alison Angus, head of lifestyles at Euromonitor International, said.
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