Global Consumer Trends: Comfort

Content

• Overview
• Catalyst
• Summary
• Introduction: The Importance of Trend-tracking
  • Tracking consumer mega-trends is fundamental to long-term success
  • Trend-tracking insight 1: mega-trends can be classified in two ways according to desirable product/service benefits and societal complexities
  • Trend-tracking insight 2: trends are aligned with pre-existing, but evolving human values, attitudes, needs and behaviors
  • Trend-tracking insight 3: mega-trends can be broken down into trends and sub-trends to provide structure and clarity at a time of 'information overload'
  • Trend-tracking insight 4: manufacturers, retailers and researchers/futurologists perpetuate trends
  • Trend-tracking insight 5: adopting a broader, global perspective to trend-tracking facilitates better decision making by overcoming 'category myopia'
  • Trend-tracking insight 6: trends have longer-term implications than fads and can be categorized by evolvement
  • Trend-tracking insight 7: for every trend there is a 'counter-trend' while 'trend-crossover' is also an important phenomena
  • Takeouts and implications: a trend framework boosts the quality and frequency of insight generation ensuring maximum return from the broader market research processes in place
• The Future Decoded: Deciphering The Comfort Mega-trend
  • MEGA-TREND SYNOPSIS: Consumers want safety, simplicity, trust and indulgence in response to rising stress and uncertainty
  • TREND: Cautious Consumerism: many individuals are concerned about the direction of society, are distrustful and skeptical of progress and change
  • SUB-TREND: Societal Pessimism: many global citizens bemoan the direction of society on a global, regional and national level
  • Europeans have a negative opinion of the direction of national developments
  • Consumers in the Americas display varying degrees of satisfaction with their country's direction
  • Asia Pacific citizens, having mostly experienced rising economic prosperity in recent years, are generally more optimistic about the direction of society than the global average
  • despite enormous social change, consumers in the UAE and Saudi Arabia are largely content with the direction of society and are generally not skeptical of the benefits of economic development
  • Key takeouts and implications: consumers feel somewhat let down by institutions and as a result are less confident and trusting
  • SUB-TREND: Skeptical Consumerism: a ongoing 'trust void' exists between organizations and institutions and individuals who rely on them
  • Europeans are deeply skeptical about commercial enterprises and the specifics of product claims
  • Much cynicism exists among consumers in the Americas when evaluating product claims
  • Developing nations in the Asia Pacific region are more likely to express trust in manufacturer claims
  • UAE and Saudi consumers are relatively skeptical of corporate intent
  • Key takeouts and implications: consumers do not inherently believe that all product claims are truthful
  • SUB-TREND: Risk Aversion: fears exist over (new) processes and progression associated with consumer products
  • Europeans generally believe that functional food and beverages are better/safer than GM food but there is skepticism towards both
  • in North and South America consumers are wary of product formulations
  • Asia Pacific consumers are particularly concerned about the ingredients that go into products
  • MENA consumers are becoming more interested in food safety
  • Key takeouts and implications: consumer understanding of what goes into food, beverages, personal care and household care products has never been greater
  • SUB-TREND: Technophobia: as consumers embrace digital lifestyles concerns exist about an over-reliance on technology
  • The majority of Europeans cannot be described as technophobic or negative about progress associated with science and technology but they do hold reservations about the future
  • The majority of consumers in the Americas are comfortable with technology and the positive impact it is having on society although there is a perception of over-reliance
  • Consumers in the Asia Pacific region are some of the most connected globally
  • Gulf consumers are becoming more reliant on technology
  • Key takeouts and implications: technophobia is not particularly prevalent globally although there are certain contexts where individuals can adopt a more negative mentality
  • TREND: Cocooning: the global financial crisis and the ongoing desire to 'shut off' from the wider world continues to shape global consumer attitudes and behaviors
  • SUB-TREND: Blinkered Optimism: many consumers adopt an overly optimistic view of their health as they shut themselves off from reality and they also look to outsource blame elsewhere
  • Europeans believe their diets are healthier than they actually are
  • Satisfaction with personal health is fairly high among consumers in the Americas
  • Perceptions of health status vary considerably across the Asia Pacific region
  • UAE and Saudi consumers can be very blinkered when assessing personal health and apportion much of the blame for aspects of poor health on others
  • Key takeouts and implications: some consumers refuse to acknowledge and/or accept responsibility for lifestyle and personal problems such as poor health
  • SUB-TREND: Insperiences: bringing third places home and the resurgence of home-based consumption occasions
  • Europeans are creating more 'insperiences' by consuming more home prepared meals
  • Consumers in the Americas are spending more time entertaining at home
  • Consumers in Asia Pacific are eating, drinking and pampering more frequently at home
  • Consumer insperiences are increasingly common in both the UAE and Saudi Arabia
  • Key takeouts and implications: as consumers cocoon, they demand higher quality 'insperiences' that act as 'home comforts'
  • SUB-TREND: House-Proud Cocooning: as consumers seek sanctuary in the comfort of their homes, they become extra pre-occupied with upkeep
  • Europeans display a certain pride in improving their own homes
  • Brazilians particularly value the appearance of their homes while US attitudes are more in line with the global average
  • Traditional Asia Pacific attitudes still prevail when it comes to being houseproud
  • UAE and Saudi consumers are very proud of their homes and are increasingly looking to DIY solutions to keep up appearances
  • Key takeouts and implications: as consumers spend longer in their homes, they become increasingly disposed to being houseproud
  • SUB-TREND: Homeworking: people are taking advantage of structural changes in labor markets and connective technology to embrace more flexible, home-based work
  • Connective technology has made it possible for more Europeans to work from home
  • Working from home is on the increase, particularly in North America
  • Individuals in the Asia Pacific region are working more frequently from home, setting up small offices in which to perform their daily tasks
  • Home-working in the UAE and Saudi has been limited by labor laws
  • Key takeouts and implications: homeworking has been made considerably easier by improvements in the quality and reliability of connective technology
  • SUB-TREND: Home-grown: consumers are increasingly demonstrating a desire to become product cultivators
  • There has been an increase in the number of Europeans looking to grow their own produce
  • There is an emergent trend of home-growing produce in the Americas
  • Consumers are cutting back on eating out of the home and replacing this with more home-grown consumption options
  • Key takeouts and implications: consumers are looking to save money during the economic crisis by becoming less reliant on store-bought groceries
  • TREND: Ethnocentrism: ethnocentric preferences exacerbate favorability of national or local products and brands
  • SUB-TREND: Localism: consumers are embracing the 'locavore' movement
  • Europeans are demonstrating a strong interest in consuming local produce
  • Consumers in the Americas show considerable interest in products' origins
  • Locality is very important to consumers across Asia Pacific, but less influential in terms of routinely guiding actual choices
  • Localism is highly prevalent in the Middle East, though arguably more pronounced in Saudi Arabia than in the UAE
  • Key takeouts and implications: ethnocentric consumers prefer local products to ones from abroad
  • SUB-TREND: Ethnocentric tendencies can lead to the sporadic or longer-term boycotting or avoidance of 'foreign' products
  • Europeans distrust grocery products that come from overseas
  • Views on foreign products and ingredients are somewhat mixed in the Americas
  • Asia Pacific consumers display a large amount of mistrust in foreign ingredients
  • Middle Eastern consumers are now unlikely to avoid Western produce because of regionally unsympathetic tastes or flavors, but periodic political and cultural incidents ensure that boycotts of Western products remain relatively commonplace
  • Key takeouts and implications: consumers inherently distrust products and ingredients which come from foreign lands
  • SUB-TREND: Ethnic tensions and polarized attitudes towards immigration and 'outside influences' are prevalent across regions
  • European attitudes to immigration vary based on circumstantial issues, but it is seen as a problematic and contentious issue by majorities across the region
  • Americans are increasingly distrusted by consumers in Latin America
  • Chinese consumers in particular have misgivings about people from other faiths or nations
  • in both the UAE and Saudi Arabia immigration concerns are on the rise
  • Key takeouts and implications: despite efforts to encourage multiculturalism, tensions between consumers of differing ethnicities still exist across the globe
  • TREND: Simplifying and Downshifting: consumers often aspire to a simplified, less complicated lifestyle and shopping experience
  • SUB-TREND: Choice Paralysis and Habitual Consumption: consumer confusion and choosing familiar brands/products
  • Europeans say they are influenced by choice but seem to be affected by choice paralysis nevertheless
  • The key aspects of choice paralysis are evident among consumers in the Americas
  • Consumers in Asia Pacific experience choice paralysis just like other consumers globally
  • Choice paralysis is also evident in the Middle East
  • Key takeouts and implications: consumers often feel stifled by the amount of choice on offer
  • SUB-TREND: Selective attention: the 'attention economy' highlights the growing difficulty of engaging consumers
  • The vast majority of Europeans believe that there is too much advertising today
  • A strong feeling exists among consumers in the Americas that there is too much advertising
  • Consumers in Asia Pacific, like those from other regions, express negative sentiment towards the amount of advertising today
  • Regional consumers are unreceptive to large amounts of advertising
  • Key takeouts and implications: marketers are facing an increasingly challenging environment to get consumers' attention
  • SUB-TREND: The search for simplicity reflects the need to reduce physical and informational clutter and complexity in their life
  • Time poor Europeans want simple solutions to problems in order to create more time
  • Consumers in the Americas exhibit a strong desire to simplify their lifestyles
  • Asia Pacific consumers have prioritized simplicity at a stressful time
  • UAE and Saudi consumers want a de-cluttered life
  • Key takeouts and implications: many consumers are increasingly seeking to simplify life and will value products that align to this ideology
  • SUB-TREND: Austere Consumerism: consumers are buying in more tempered and considered manner, especially with the global financial crisis changing the outlook on consumption
  • Eastern and Western Europeans display contrasting attitudes towards materialism
  • Consumers in the Americas have become wary of materialism and credit facilities
  • Consumers in Asia Pacific are particularly materialistic
  • Falling consumer expenditure has not led to genuine 'austere consumerism' in the UAE or Saudi Arabia
  • Key takeouts and implications: consumers have contrasting views about austere consumerism depending on location
  • SUB-TREND: Family First: improving work/life balance and slowing down to facilitate more and better quality family time continue to be important priorities
  • Some Europeans are happy with the amount of time they spend with their families but others are not
  • Consumers in the Americas are increasingly prioritizing time spent with family and friends
  • Consumers in Asia Pacific believe there is plenty of scope to improve the quality of their work/life balance
  • Increased leisure time, including family life, have become dramatically more important to UAE and Saudi consumers over the past two years or so
  • Key takeouts and implications: consumers are making greater efforts to ensure that they spend as much time with their families as possible
  • TREND: Nostalgic Consumerism and the 'Return to Real'
  • SUB-TREND: Buying nostalgic brands/embracing retro design
  • Cravings for nostalgia have built around Europe in the past few years
  • The appeal of nostalgia was not particularly evident in the US just a few years ago
  • Nostalgic products are becoming increasing popular in Asia Pacific, especially in Japan
  • While most consumers in the UAE and Saudi Arabia are too young to be emotionally influenced by 'retro' products an adulterated form of nostalgic consumerism is still evident
  • Key takeouts and implications: nostalgia is a relevant trend for consumers due to the comfort that it provides but its popularity is at the mercy of wider social situations
  • SUB-TREND: Traditional Consumption: consumers continue to embrace traditional favorites
  • Some Europeans are seeking out more exciting flavors while others are returning to traditional ones
  • Many consumers in the Americas display a desire for traditional and 'safe' flavors in food and beverages
  • Rather than look for traditional flavors, consumers in Asia Pacific are favoring more exotic options
  • Traditional, regional, tastes are still popular in the Middle East
  • Key takeouts and implications: consumers are torn between returning to the traditional or seeking out new experiences
  • SUB-TREND: The re-emergence of scratch cooking and 'home-made' products
  • Europeans are embracing the scratch cooking movement
  • Cooking behaviors are changing in the Americas as more consumers return to scratch-cooking
  • Consumers in Korea in particular are looking to cook more from scratch
  • UAE and Saudi consumers are cooking at home
  • Key takeouts and implications: consumers are rediscovering scratch cooking for a number of reasons
• Appendix
  • Definitions
  • Methodology
  • Further reading and references
  • Ask the analyst
  • Datamonitor consulting
  • Disclaimer