Convenience and control are among the top trends that Euromonitor International says will impact business in the year ahead.
In its annual trend report, the London-based market research firm identifies 10 areas that are shaping consumer behaviour, values and habits--most of which are driven by technology.
“Convenience and personal control are the core themes connecting these trends in 2020,” said Gina Westbrook, director of consumer trends at Euromonitor International, in a press release. “Consumers are putting themselves first as they look for ways to simplify their lives.”
Here's a look at the 10 trends Euromonitor says will drive consumer behaviour, values and habits in the year ahead:
Artificial intelligence (AI)
Consumers are embracing AI for convenience, and businesses are using it to deliver personalized solutions.
To cut through the clutter, content needs to be concise, relevant, multisensory and it needs to grab the consumer's attention within seconds.
Personalized and seamless travel
Consumers are ready to kiss congested roads and crowded public transit goodbye, in exchange for personalized transportation options that account for time, budget and weather.
Authenticity and inclusivity
Brands are shifting their products and services to be more accessible to everyone, and the move will become a measure of brand relevance in 2020.
Increasingly, consumers are seeking more outcome-based goods--or mood foods--with ingredients and functional attributes to address mental wellbeing.
The ability to do everything—work, shop, exercise and other activities—from the comfort of home is shifting consumer habits, said Euromonitor, which gives rise to such services as e-grocery.
Though customers want tailored experiences, they are going to hold their data closer to the vest this year, and will likely opt out of brand's tracking their activity if it doesn't add value.
More consumers are seeking local products, and multinationals are joining the trend by shaping their products to local culture.
Reuse beats out recycle
Green consumers continue to look for alternatives to single-use products, and new circular business models aim to promote sharing, reusing, refilling and renting to avoid waste.
Clean air activism
The damaging impact of air pollution on health is widely documented. In 2019, the World Health Organization said air pollution is a "public health emergency." With this in mind, businesses are facing pressures to provide solutions that safeguard the environment and consumers from the effects of poor air quality.