August 20, 2021
The COVID-19 pandemic has changed the way consumers are behaving and the trades all over the world. According to a prediction made by a market researcher called Euromonitor, several new habits and behavior of consumers due to the pandemic are going to stay. It is being forecasted that consumers will be more creative, anxious, and demanding while trying to adjust to changes. Customers will expect the brands they use to be more active in 2021. They are also looking forward to getting more assistance in achieving physical and mental wellness and new alternatives for digital services.
Here are the top 10 global consumer trends in 2021 to help your trades:
Consumers will expect all those purpose-driven initiatives from businesses, which support the three bottom-line factors-profits, planet, and people. Many professionals expect customers to be more worried about sustainability now as compared to the days before the coronavirus.
Remote working has redefined the conventional office environment leading to looking for a new balance in work-life. Earlier, many global consumers had a proper demarcation between personal and school or work life, which has got blurred now.
Today, most consumers globally ask for contact-less services and extraordinary sanitation products and standards, which can improve immunity and hygiene.
More and more consumers are using a variety of digital tools for remaining connected at home. They prefer shopping from the safety of their homes rather than visiting brick-and-mortar outlets amid the COVID-19 pandemic. Smartphones, advanced technology like augmented reality, connected appliances, and video calls have assisted customers to remain virtually connected during the global pandemic even though they are physically separated.
In comparison to customers who wish to splurge, the second group of shoppers has been facing financial constraints due to economic instability and job losses. These hardships are compelling them to exhibit thrifty spending behavior. Some customers will be identifying with both these trends, according to experts. They will spend less on some items and splurge more on affordable luxurious products to enhance their mental and physical well-being during the global health crisis.
Customers are missing impulse shopping and spontaneous activities, which were commonplace during the pre-COVID time. Many of them want the same convenience and spontaneity in digital commerce now. While most young consumers do not mind digital interactions, many customers above the age of sixty are more in favor of interactions with human representatives.
Customers watched the actions of the brands more closely during the COVID lockdowns. They are also likely to look at environmental and social issues more closely after the end of the pandemic. People will also expect organizations to safeguard the well-being and health of their employees, promote sustainability goals, and assist local communities.
As customers are staying home most of the time, they have become more deliberate and creative while organizing their regular schedules and juggling between their personal, work, and family lives. This new multitasking also means consumers are now expecting organizations to come up with greater flexibility. Euromonitor feels that customers will expect a 24-hour service culture.
People are fond of going to outdoor spaces for recreation, events, and work even after the coronavirus. As such, organizations have to focus on creating their outdoor oasis.
Several people have low trust in the government and leadership. Additionally, misinformation and prejudices are leading to lower confidence levels. Experts feel such behavior is triggering some customers to become rebels by putting their wants and needs first. Worldwide lockdowns have resulted in splurging or revenge shopping after being forced to stay at home for many months.