Consumers are maximizing their time and money by finding products and services that combine multiple needs, according to research company Euromonitor International's list of the Top 10 global consumer trends for 2015.
“In 2015, the sharing economy is growing and disrupting the way in which individuals think of space and ownership," said the report’s author and Euromonitor consumer trends consultant Daphne Kasriel-Alexander. "Consumers are increasingly preoccupied with access to goods rather than owning them outright.”
One example of how services are meeting multiple needs as stated by Euromonitor is a Swedish taxi company that offers in-car therapists priced at $165 per hour for their stressed and time-pressed users.
“Post-recessionary consumers are prepared to pay for products that simplify their hectic on-the-go lives,” stated Kasriel-Alexander. “Technology plays a big part in attaining convenience, and omnichannel shopping options create a seamless link between virtual and 'real world' shops with wide consumer appeal.”
According to the report, this year will also see a rise in collaborative consumption and a culture of sharing products and services, something mainstream brands are already reacting to. For example, clothing brand Patagonia has partnered with eBay to redistribute pre-owned items. The sharing mind-set has given rise to a plethora of collaborative endeavors from community gardening to grouped workspaces and sharing via crowdfunding.
Here is Euromonitor's list of top 2015 consumer trends:
- Buying Convenience
- Malls and Shopping Centers in Community Mode
- Privacy Matters
- Consumption as a Route to Progress
- Influencers: More Like Us
- Let’s Share: The Rise and Rise of Lightweight Living
- Shopping the World
- Virtual to Real and Back: A Smoother Convergence
- Wired and Well: Connected Health
For greater insight into these trends, check out the white paper here.
[Image: Euromonitor International]