An audio-blog by Mark Stinson, author of “Forward-Fast”
(Narrated by Kelly Jean Badgley)
In a multi-part series of blog posts, I’ve been sharing 10 consumer mega-trends. These are the most important issues shaping global consumers’ buying behavior both now and in the future.
I believe that good trend-watching is about taking the bigger-picture approach. Adopting a broader global perspective to trend-tracking should help facilitate better decision-making. Because it overcomes what I call, “category myopia.”
The source of these mega-trends is a recent report from Datamonitor, entitled “Developments in Global Consumer Trends.” This survey shows how health-driven trends influence consumer lifestyles and product choices worldwide. Plus, it considers the implications and opportunities for industry players.
For 75% of the consumers surveyed – across 17 countries and 4 regions – “maintaining or improving health” has become more important to them in recent years.
So, let’s take an overview of the 10 health consumer mega-trends.
TREND #1: Consumers are acting more holistically in the pursuit of general well being.
This means consumers are taking more self-responsibility for their health. And it’s likely that health is set to stay at the top of the agenda for the years ahead. Consumers are adopting a broader “wellness” orientated lifestyle. Which means the pursuit of wellness & well being is best thought of not as a trend in its own right, but as an umbrella of related trends and behaviors that must be reflected in products and marketing.
TREND #2: Health conscious consumers are increasingly prone to, and acting upon, product safety concerns.
There are intensifying product safety anxieties that affect many global citizens. The implication is that escalating health attentiveness has been matched by growing concern about the safety of products. Consumer sensitivity is a growing phenomena as reflected by allergen and intolerance influenced consumption – which if addressed could create opportunities to target specific segments. Related is that “fear-driven avoidance” means some consumers are outright rejecting products that are perceived as containing harmful ingredients or where safety is compromised. So, consumers will be less forgiving when products compromise their safety.Consumers also are opting for more local products, especially food products, because of a perception they are safer. Safety concerns will be one of a number of drivers ensuring that “local” products will continue to gain favorability, especially in food and beverages. Finally, global shoppers, especially those in developed consumer societies, increasingly value reassurances and transparency about how products are produced. Therefore, reassuring consumers will become a necessity to overcome trust voids and build stronger brands.
(to be continued)