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Mintel, the consultants in what shoppers need and why, has immediately (12 January 2021) introduced seven trends set to impact global consumer markets in 2021, together with evaluation, insights, and proposals centred round client behaviour, market shifts, revolutionary manufacturers, and alternatives for corporations and types to behave on within the subsequent 12 months:
- Well being Undefined: An consciousness of wellbeing is on the forefront of shoppers’ minds, however a playbook doesn’t exist. Manufacturers have a duty and alternative to set new guidelines.
- Collective Empowerment: Customers all over the world are making their voices heard loud and clear within the push for fairness, company, and rights.
- Precedence Shift: Customers are searching for a return to the necessities, with a concentrate on versatile possessions and a reframing of what possession truly means.
- Coming Collectively: Customers are coming collectively in like-minded communities with the intention to join with and help one another, pushed by the influence of the worldwide pandemic.
- Digital Lives: Bodily separation as a result of pandemic, elevated want for escapism, and improved know-how are driving shoppers in the direction of digital experiences.
- Sustainable Areas: COVID-19 has subtly however considerably shifted client consciousness of our relationship with the areas by which we stay, accelerating demand for sustainability.
- Digital Dilemmas: Whereas there are numerous advantages to a extra digitally-connected life, considerations about its adverse impacts are placing shoppers in a predicament.
Simon Moriarty, Director of Mintel Developments, EMEA, feedback on how the traits had been developed, in addition to how they may influence markets, manufacturers, and shoppers in 2021:
“As consultants in what shoppers need and why, Mintel is uniquely suited to foretell the way forward for client behaviour and what which means for manufacturers. Final 12 months, we launched our 2030 Global Consumer Trends, developed as a residing, rising prediction mannequin that may adapt with the unexpected. The mannequin helps the fluid acceleration or deceleration of the traits in response to the fact of particular person markets, permitting us to not solely be extra adaptive and reactive to vary however to proceed to permit us and our shoppers to concentrate on the futures we (humanity) wish to invent—or keep away from.
“Our new 2021 forecasts stay embedded inside our system of Mintel’s 7 Development Drivers and their supporting pillars. In addition they bear in mind the adjustments which were accelerated by the COVID-19 pandemic—the delicate but profound shifts in client considering and responses from manufacturers—and try and encapsulate the higher future that buyers, globally, aspire to, and in the direction of which manufacturers can construct their very own strategic visions.”
Well being Undefined
“Customers are searching for a wellbeing expertise by a wholly new lens constructed round a way of uncertainty as to when life will shift to extra balanced routines. That is driving demand for consolation and construction.
“As manufacturers intention to set a brand new tone and new buildings, the chance for manufacturers exists in not merely promoting a wellbeing services or products to shoppers, but in addition reminding them of the worth in their very own inside curiosity and the ability of making an attempt one thing new.”
“The collective mentality of the pandemic motivated a community-focused client mindset – even in historically individualistic cultures – that has put mutual help and advocacy on the forefront of varied client behaviours. The rise of the Black Lives Matter motion and the World Local weather Strike present how individuals are gathering to clamour for constructive change.
“There is a chance for manufacturers to take a lead in addressing these points, and so they might danger being seen as a hindrance in the event that they fail to take action.”
“As shoppers are both dealing with financial uncertainty and/or a mixture of contradictory emotions of vulnerability and resilience, they’re taking a step again and embracing a shortage mindset that makes them monitor extra carefully their spending and keep away from extra consumption. On this seek for issues that matter to them, shoppers are searching for not simply affordability and comfort, but in addition security, safety, and sturdiness of products.
“Manufacturers ought to reap the benefits of this chance to turn out to be brokers of constructive change and to show that they provide good worth and tangible outcomes.”
“COVID-19 revitalised the idea of neighborhood, with shoppers craving human connection and interactions greater than ever. With massive numbers of the world’s inhabitants pressured to remain indoors and observe social distancing measures, this highlighted the significance of unity as a method of supporting each other.
“A widespread understanding that neighborhood and belonging are crucial to fight loneliness gives manufacturers the prospect to have a good time client identities and supply novel methods to help one another.”
“The influence of the pandemic and continued innovation in know-how has meant that experiences proceed to vary and the position digital leisure performs in fostering positivity and connecting folks is of specific significance.
“The fast-growing recognition of gaming and esports gives alternatives for manufacturers from a number of markets, both by way of collaborations to create collectible in-game objects, by creating their very own video games, or pairing merchandise to go together with gaming periods.”
“With entry to extra data than ever earlier than, shoppers are demanding higher transparency from the manufacturers they purchase from, together with how manufacturers plan to deal with sustainability challenges.
“As shoppers more and more admire the complexity of the problems the world faces, manufacturers have a chance to proactively innovate services that assist them take care of the cumulative influence of on a regular basis residing—from a concentrate on localism and supporting communities to nudging shoppers in the direction of incrementally higher habits that mix to nice impact.”
“Expertise has performed a large position in providing options that present peace of thoughts in unsure instances. Whereas know-how is supposed to enhance life, it’s value taking a step again to evaluate how shoppers really feel concerning the know-how with which they encompass themselves.
“eCommerce and on-line transactions have the potential to turn out to be, and stay, the norm. Thus manufacturers are inspired to innovate digital capabilities in anticipation of shoppers’ wants and, crucially, to expertly bridge the hole between the net and offline worlds to supply a extra dependable and constant expertise.”
Interviews with the Mintel Developments international analyst crew can be found on request from the Mintel Press Workplace. Mintel’s 2021 World Client Developments can be found at no cost obtain here.