How new consumer trends affect tourism
Euromonitor published a report that reveals emerging trends and explores customer behavior. How should the tourism industry react?
The global market research company Euromonitor International today published a new report that highlights the top 10 global consumer trends to be taken into account in 2019.
The annual report reveals the emerging trends that provide information on the changing values of consumers and explores how their behavior is affecting companies globally.
The top 10 global consumer trends for 2019 are:
Agnostics regarding age
The limits of old age continue to move. As people live longer and take better care of themselves, older consumers feel and want to be treated as if they were younger.
Go back to basics for a status issue
Consumers are looking for authentic products and experiences, moving away from materialism and generic products in favor of simplicity and higher quality products.
What used to be the domain of niche producers positioned by their ethics, today is adopted by conventional companies through products that offer greater animal welfare.
As our technological capabilities grow and the comfort of using them, so will the potential of what can be created or experienced together, but remotely.
They are all experts
Whereas before the buyers depended on a certain brand or source of information to make their purchases, today companies must innovate constantly to attract more inquisitive buyers.
Finding my JOMO
The fear of being left out or not participating (FOMO "Fear of Missing Out"), has given rise to the joy of not participating (JOMO "Joy of Missing Out"). Consumers want to protect their mental well-being, disconnect from technology and prioritize what they really want and enjoy doing.
I can take care of myself
As people become more self-sufficient, they take preventive measures against illness, unhappiness and discomfort without consulting a professional.
I want a free world of plastic
The initiative to achieve a free plastic society increases, creating a virtuous circle where companies win by improving sustainability.
I want it now!
Consumers seek instant gratification and simple, problem-free experiences that combine with their lifestyles and allow them to spend more time in their professional and social lives.
More people, especially older consumers, around the world break the stigma of living alone and embrace their independent lifestyles.
"Intelligence is the common thread that unites all trends in 2019. In a world full of choices, the needs and desires of consumers are changing rapidly," says Gina Westbrook, director of lifestyles at Euromonitor International.