LONDON--(BUSINESS WIRE)--Global market research company Euromonitor International unveiled today a new white paper highlighting the top 10 global consumer trends to watch in 2019.
The annual report reveals emerging trends that provide insight into changing consumers’ values and explore how their behaviour is disrupting business globally.
“Intelligence is the common thread linking all trends in 2019. In a world full of choices, consumers’ needs and wants are fast-changing. How we live is so centrally dependent on the choices available that the biggest issue we face is how to make sense of it all,” comments Gina Westbrook, director of lifestyles at Euromonitor International.
According to the white paper, older consumers should be at the centre of business strategies. Later lifers are in better financial shape than the rest of the population, boasting the highest spending power among all age groups. People aged 50-59 years old earned 28 percent above the average income of all age groups in 2018.
“As people live longer and take better care of themselves, seniors feel and want to be treated as younger. Older consumers today have much more in common with the values and priorities of younger generations than one might think,” Westbrook adds.
Older generations are at the core of the ‘Loner Living’ trend, as seniors living alone far outnumber younger generations. According to the new study, the number of single-person households will increase by about 120 million by 2030.
“The Loner Living trend will become increasingly important as people – especially older consumers - across the world break the stigma of living alone and embrace their independent lifestyles,” comments Alison Angus, head of lifestyles at Euromonitor International. “Products and services that help these consumers celebrate their proudly independent lifestyles will succeed in capturing this growing market segment,” Angus adds.
Although people are living more independently, they still want to connect with others. At the root of the Digitally Together trend identified in the report is technological advancement providing authentic, life-like interactions online.
According Euromonitor International’s Lifestyle Survey, 45 percent of global consumers share photos or videos weekly, up from 38 percent in 2015, creating digital moments that can be looked back on and relived eternally. “The ‘Digitally Together’ trend will continue to shape how we connect and collaborate, create and experience together while physically apart,” Angus concludes.
Register now to receive a free copy of the report: https://go.euromonitor.com/white-paper-EC-2019-Top-10-Global-Consumer-Trends.html
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Euromonitor International is the world’s leading provider for global business intelligence and strategic market analysis. We have more than 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.