10 key global consumer trends for 2022
For two years, the world has been dealing with a pandemic, one that affected everyone in different ways. As a result, consumer behavior has changed a lot. Unfortunately, not all companies were able to innovate fast enough – the last thing you want as a business is to be left behind in this respect.
There are positive consumer trends, and ones that we’d happily get rid of. For instance, the market for N95 respirator masks alone quadrupled between 2019 and 2021 from 0.63 billion to 2.5 billion units, but everyone (except the manufacturers) is hoping that this trend dies down along with the pandemic.
Luckily, being innovative is not that difficult if you know the global consumer trends and we’re here to help. This post will present the top 10 global consumer trends for 2022, so you can shift your business model and offerings accordingly. Let’s get started!
More people are becoming aware of how their lifestyles can impact the environment. They know that if they don’t take some measures soon enough, they can cause irreversible damage to the planet.
Therefore, numerous individuals are looking toward low-carbon lifestyles and green alternatives. They want brands to be more environmentally aware and start taking action, so our planet doesn’t have to suffer anymore.
Nowadays, a lot of people are very careful when making purchases, so they pay for products and services that do not impact the environment negatively. According to professionals, climate change will have a huge influence on consumer demand. Consequently, people’s preferences, needs, and behaviors will change as well.
Businesses must start reducing their carbon footprint if they want to keep their target audience.
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Improving the visibility of the supply chain
A lot of backup planners are encountering obstacles when it comes to securing the products and services they want. Therefore, they are searching for ways to buy similar services or products, or at least find a creative solution so they can get some alternatives.
Many companies that deal with supply chain shortages have to come up with new solutions for people who want to access services and products. Therefore, all businesses should improve the visibility of their supply chain, rethink their investments, and hone their operations.
Easy-to-use technologies for elders
Most of the time, elders prefer to stay away from complicated technology-related products and services. Still, during the pandemic, they had to rely on technology in some situations. As such, they were able to see the benefits of technology and are more willing to take advantage of the digital world.
These days, they started making purchases and using various services through technology. As a result, companies have to cater to this if they wish to innovate.
Ideally, all businesses should make their existing technologies simpler and work on creating some easy-to-use devices for seniors. Elders must have apps and gadgets that are simple to use, not something complex and confusing – otherwise, they will start looking towards the competition.
A focus on personal growth
The number of people who are focusing on their well-being and growth has increased considerably, especially during the pandemic. Only last year, numerous employees decided to leave their jobs to take better care of their physical and mental health and search for new career opportunities.
This offers companies the chance to innovate their products, services, and experiences that respond to the situation.
Interest in financial security
Lately, people did not shy away from investing. On top of that, a lot of individuals became interested in their financial security and its strength. Consumers started using various services to keep track of the transactions they make – this way, they can be in full control of their funds.
This is why a lot of companies should react to this by collaborating with various financial service corporations so they can offer different payment forms. They can offer “buy now”, “pay later”, cryptocurrencies, and other methods.
Integrating rural urbanities
People started looking for rural areas in order to enjoy green scenery, as well as larger homes. While the relocation is permanent in some cases, not everyone wants to give up their city life – therefore, they want the benefits from rural areas to be brought to urban neighborhoods.
Therefore, businesses are expected to bring some sustainable initiatives, like rooftop gardens and indoor farming, for instance. Any company that is able to expand its sustainable product lines will also gain more recognition.
Focusing on self-love
Lifestyles are changing a lot lately, and more people are starting to focus on self-care, self-love, and acceptance. They put their happiness above everything else, looking for products and services that not only make them feel better about themselves but also give them the comfort they need.
If businesses want to keep being successful, they must be able to support their customers’ lifestyles. On top of that, they should also understand the priorities of their clients. If a business can offer something that makes consumers feel happy with themselves, their brand will gain more praise and their audience may increase.
More secondhand shopping
The negative stigma around secondhand shopping is starting to disappear. In fact, it is trendy to thrift now. Once every few months, about 33% of consumers purchase secondhand goods.
For this reason, companies should start investing in things like resale programs, rental ones, or recycling. It is something that could have a positive impact on our environment.
The metaverse moment
Social connections are starting to shift due to 3D digital ecosystems. The digital world is evolving more and more, and people love it. They use this opportunity to socialize with various communities.
A few large brands like Facebook and Gucci have started making Metaverse Moment investments. 2022 will be a great year for companies that want to use this new digital ecosystem to build some equity.
Returning to the pre-pandemic life
After two pandemic years, consumers are divided when it comes to approaching the pre-pandemic life conditions. Some are hesitant, while others are excited and ready to embrace their old lifestyle. In 2021, 76% of consumers relied on safety and health precautions when they left their homes.
This is why businesses should be considerate of the different comfort levels and mix interpersonal connections and online shopping.
The bottom line
2022 brings some changes for customers and businesses alike. We’re heading towards the post-pandemic life. So, if you want to be successful, you should check these 10 consumer trends and implement the ones that fit your business model.