Top Consumer Trends of 2021
Top Consumer Trends of 2021
Let’s face it 2020 was tough, and 2021 won’t be a walk in the park either! So far this year, we’ve seen a coup d’état in Myanmar, the global COVID-19 death toll surpass 2.5 million, and on the local front a reemergence of Coronavirus community transmission in Brisbane. On a less sombre note, we have seen a world that is focused on recovery and rebuilding. As a nation, we like to think that Australia has set the global standard for recovery. What could highlight this more than the MCG hosting 51,723 footy fans for a rivalry clash between Collingwood and Carlton in the AFL. The world was envious and it created a global frenzy! Aussie Aussie Aussie!!
Now, with recovery in mind, we have selected some important consumer trends from the 2021 Euromonitor Report for you to consider in 2021 and onwards.
1. Building Back Better
COVID-19 acted as a catalyst for the growth of consumer sentiment on sustainability, with consumers no longer willing to put up with stagnant environmental progress. In essence, consumers are now demanding that companies care beyond revenue. Companies are now expected to be purpose-driven and leaders in the global push for social changes and environmental awareness. Brands that embrace this consumer push and reposition from a pure-profit strategy to join the purpose-driven movement are likely to gain the trust of consumers. This trust will ultimately give you a competitive advantage.
2. Craving Convenience
During COVID, as lines grew, deliveries were delayed, and facemasks became mandatory, consumers were more than ever craving the convenience of pre-pandemic life, which is likely to continue. A swift and seamless shopping experience is on top of the consumer mind, not only whilst in-store but also while online. With this in mind, businesses must preserve a swift and easy consumer experience to remain not only relevant, but also competitive.
3. Playing with time
Time is one of our most commonly wasted commodities. Consumers have to get creative in deciding how they want to balance their work, family, social and personal lives. While COVID-19 has given many consumers more time, it has added the issue of how to manage this time effectively. Consumers are scheduling their day-to-day activities in a traditionally non-conventional order, which has put predictions of consumer behaviour into disarray. Businesses have to adapt by developing their own approach to a 24-hour service culture.
4. Restless and Rebellious
This past year saw disillusion run rampant, spread in no small part by biases and misinformation. There has been an overarching distrust in the media and digital content, opening the door for companies to dispel misinformation through their marketing. Companies must ensure their digital marketing campaigns share both accurate and relevant information to avoid running the risk of losing consumer trust.
5. Mind Over Matter
Consumers have faced, and continue to face, unprecedented adversity as a result of the global COVID-19 pandemic. Consumers have had their mental resilience tested and without a doubt, the scars of last year are fresh on their minds. This ‘trend’ sees consumers pursuing a life of fulfilment and balance. They are changing the way they tackle mental health by striving to de-stress and ultimately become more resilient. This means we will see more and more consumers trying things that are new to them, and generally just giving more things a red hot go.
6. Frugal and Cautious Consumers
2020 saw Australia experience its first recession in nearly 30-years, with two recorded quarters of negative economic growth. As a consequence, consumers are thinking with a recessionary mindset and prioritising value-added products and services. Business must identify and market the key qualities that consumers are willing to pay a premium for. These qualities are likely to remain the same no matter the degree of frugality a consumer goes to. Another alternative is for businesses to introduce a low-priced alternative to their flagship product. For instance, Microsoft introduced the Xbox Series S to be released alongside the Xbox series X as a cheaper alternative.
We understand this could be a lot to take in, and we are here to help. Get in touch with us today to see how we can help align your company’s marketing strategy with the trends of tomorrow. email@example.com or 3198 4890.