After a year of uncertainty, economic flux and an unprecedented boom in technological advancement, it’s no surprise that consumer behaviour has shifted dramatically. Here's a top-line overview of the latest consumer trends:
BE THE BEST VERSION OF ME
Consumers’ desire to manage and improve both their physical and mental wellbeing, proactively choosing to integrate products and brands that support their pursuit of holistic health.
MAKE MY LIFE EASIER
Stress is permeating society. Whilst technology is supposedly helping, the always-on culture, lack of time and too much choice are driving consumes to choose products and services that offer convenience, simplicity and affordability.
EXPERIENCES ARE MY CURRENCY
It is no longer just about the product and its quality. Consumers look to ‘experience’ brands and occasions, making memories that can be shared with friends and families. They are experimental and they like to have the senses delighted, even at home.
WE’RE BETTER TOGETHER
In this world of uncertainty, pressures and anxieties, consumers are looking to communities, organisations and brands for reassurance, comfort and support. Whilst tech helps, consumers increasingly value authentic, ‘local’ interactions.
DO THE RIGHT THING
Inundated with news on climate change, pollution, poor working conditions and animal rights, consumers are seeking reassurance that brands are sourcing, producing and selling in an ethically responsible way, demanding complete transparency.
Source: Molson Coors May 2022 Market Update.