Consumer behavior over the coming year is likely to be impacted by everything from environmental activism, older consumers becoming more tech savvy, and people reflecting on the turmoil of the last two years and making major life changes.
That’s according to Euromonitor International’s “Top 10 Global Consumer Trends 2022” report released this week.
The global market research company’s annual report defines the trends motivating consumer behavior and challenging business strategies in the year ahead.
Top 10 trends for 2022
Below is a look at the top 10 consumers trends for 2022:
1. Backup Planners
Consumers find creative solutions to purchase their go-to products or search for next best options as supply chain disruptions cause massive shortages.
2. Climate Changers
Eco-anxiety and the climate emergency drive environmental activism for a net-zero economy. In 2021, 35 percent of global consumers actively reduced their carbon emissions.
3. Digital Seniors
Older consumers become savvier tech users. Virtual solutions must be tailored to the needs of this expanded online audience.
4. Financial Aficionados
Democratized money management empowers consumers to strengthen financial literacy and security. More than half of global consumers believe they will be better off financially in the next five years.
5. The Great Life Refresh
Consumers focus on personal growth and wellbeing, making drastic life changes that reflect their values, passions and purpose.
6. The Metaverse Movement
Immersive, 3D digital ecosystems begin to transform social connections. Global sales of AR/VR headsets grew 56 percent from 2017 to 2021, reaching $2.6 billion last year.
7. Pursuit of Preloved
Secondhand shopping and peer-to-peer marketplaces flourish as consumers seek unique, affordable and sustainable items.
8. Rural Urbanites
Consumers relocate to safer, cleaner and greener neighborhoods.
9. Self-Love Seekers
Authenticity, acceptance and inclusion are at the forefront of lifestyle choices and spending habits as consumers embrace their truest selves.
10. The Socialization Paradox
Fluctuating comfort levels create a conflicting return to pre-pandemic life. In 2021, 76 percent of global consumers took health and safety precautions when leaving home.
“Businesses need to transform alongside rapidly evolving consumer preferences,” says Alison Angus, head of lifestyles at Euromonitor International. “Reverting to a pre-pandemic playbook will not likely generate the same results moving forward.”
Download Euromonitor’s “Top 10 Global Consumer Trends 2022” report to uncover the incentives that will impact customer loyalty and purchase decisions this year. The report is available in English, Spanish, Portuguese, Mandarin and Japanese.