Data Tracker: Know your customer

The top 10 consumer trends for 2017 according to Euromonitor:

1. Older and louder 

Consumers over the age of 50 have a more dominant voice; are more demanding, keen consumers of health and beauty products and receptive to tech developments

“Midorexia” is a tongue-in-cheek label for the middle-aged and older consumer acting younger than their years; highlights the expectations of a demographic that is challenging the typical age-appropriate behaviour of older people 

2. Kid power 

Younger consumers have a voice that goes beyond “pester power”, parents seek their opinions about what kind of car to buy, even what to wear

A survey of analysts had 67 per cent in US, Canada and Caribbean saying children aged 3-11 had considerable input or complete control of the purchasing decision in their countries, 69 per cent in Asia-Pacific, 77 per cent in Europe and 82 per cent in Latin America

3. Wanting extraordinary 

Consumers who are “beyond average” in terms of size or dietary needs, for instance, are pushing to see their needs better met

Reconfigurable airplane seats, clothes for larger people and those with physical challenges getting more popular 

4. See now, shop now 

Impatient consumers want immediacy, real-time virtual dialogue with their brands

Brands are responding with one-hour delivery, broadcast messages to nearby consumers via their smartphones. Amazon customers in France can already buy cars from the shopping site, delivered to their home within 72 hours

5. Get real 

Authenticity is a standout consumer value, heralded by everyone from change makers and celebrities to supermarkets and chefs

Emphasis on “real” is in Twitter’s blue tick badge and Ikea’s new campaign that shows “real people in real living situations”

6. Identity in flux 

The nature of identity itself is in flux. Tension between global and local, a more elastic understanding of ethnicity and gender debates are reshaping customer behaviour

Brands will take a stand in identity debates; Airbnb sent an email informing members they need to declare themselves prejudice-free to continue hosting or renting with them

Photo: istock

7. Make it personal 

Customers want even industrially—produced products to be customised or personalised

High-end personalisation is also thriving due to demand for “experiential luxury”; Nike’s HyperAdapt 1.0 is a self-lacing shoe with digital sensors to adapt to each wearer for greater comfort

8. Follow through 

Shoppers will be paying more attention to their post-purchase experience, brand willingness to address queries and complaints will influence whether a consumer recommends or criticises and considers a repeat purchase

Companies such as Amazon Prime and AppleCare, often charge more for their products or a subscription fee for enhanced services

9. Safety and security 

Anything from home tech to insurance, organic food to travel upgrades which help consumers feel they are in control will hold a strong appeal

Personal safety extends to the need for protection from the elements and environmental threats

Air purifiers and pollution masks, beauty creams that protect the skin from polluting environments and AI—led home tech are some categories that will see sharp gains

10. Wellness is a status upgrade 

Healthy living is becoming a status symbol, boutique fitness sessions, “athleisure” clothing, food with health-giving properties and upscale health and wellness holidays are getting popular

Many consumers are increasingly interested in products that promote healthy sleep, wellness holidays and spa treatments

Source: Top 10 Global Consumer Trends, Euromonitor International