World’s consumers prepared to “buy” convenience

Today’s consumers are prepared to ‘buy’ convenience to simplify their hectic lifestyles, according to a new report from Euromonitor International.

The Top 10 Global Consumer Trends 2015 report, out this week, says consumers around the world are maximising their time and money by finding products and services that combine multiple needs. It points to a Swedish cab company that offers in-care therapists at $165 per hour, for stressed and time-pressed customers.

“Post recessionary consumers are prepared to pay for products that simplify their hectic on-the-go lives,” said Euromonitor consumer trends consultant Daphne Kasriel-Alexander. “Technology plays a big part in attaining convenience and omni-channel shopping options create a seamless link between virtual and ‘real world’ shops with wide consumer appeal.”

According to the report, this year will also see a rise in collaborative consumption and a culture of sharing products and services, something mainstream brands are already reacting to. For example, clothing brand Patagonia has partnered with Ebay to redistribute pre-owned items. The sharing mindset has given rise to a plethora of collaborative endeavours from community gardening, to grouped workspaces, and sharing via crowdfunding.”

She added that this year would see the sharing economy grow further, disrupting the way in which individuals think of space and ownership. “Consumers are increasingly pre-occupied with access to goods rather than owning them outright,” said Kasriel-Alexander.

The top global consumer trends of 2015, according to Euromonitor, are:

  • Buying convenience
  • Malls and shopping centres in community mode
  • Privacy matters
  • Consumption as a “route to progress”
  • Influencers: “More like us”
  • Let’s share: The rise of “lightweight” living
  • Millennials
  • Shopping the world
  • Virtual to real and back: A smoother convergence
  • Wired and well: Connected health

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