Below are selected highlights from “2022 Global Consumer Trends,” a report from London-based market research firm Mintel. For a free download, click here.
The report’s trend analysis and prediction research are based on seven core trend drivers, each of which is explained more fully in the report.
1) Wellbeing – Seeking physical and mental wellness
2) Rights – Feeling respected, protected, and supported
3) Value – Finding tangible and measurable benefits from investments
4) Identity – Understanding and expressing oneself and one’s place in society
5) Experiences – Seeking and discovering stimulation
6) Surroundings – Feeling connected to the external environment
7) Technology – Finding solutions through technology in the physical and digital worlds
In addition to these seven trend drivers, the report builds on Mintel’s extensive consumer and market data, along with economic, demographic, technological, political, and sociological data sets to “analyze the impact that internal and external environmental change has on consumer motivation and choice, and the behavior that stems from it.”
Another section of the report looks at four key opportunities for brands to leverage in 2022:
1) Supply chains. “Understanding supply chains and what they mean in terms of ethics and ingredients is growing in importance. Brands should look into technology that traces supply chains in real-time and get verification from independent and specialist bodies.”
2) Trust. “Fake news is increasing the value of truth, with provable claims being an invaluable asset to brands. Clear and simple messaging from brands that are free of jargon helps to avoid accusations of inauthenticity and fosters a sense of trust.”
3) Customization. “Brands that offer customizable products, as well as those that test and track consumers’ changing physical states, offer more reassurance to consumers that the items they purchase and use will serve them.”
4) Privacy. “Consumers are aware of their digital footprints, prompting concerns over who has access to their data and how it is being used. Brands should respond to this through increased and clear ‘opt-out’ options and features that offer privacy control.”
Again, for a free download of the 27-page report, click here.