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The decade ahead: Which trends will shape global markets

Mintel report looks at the drivers that will shape consumer behavior over the next 10 years

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While most trend pieces right now are focused on the year ahead, Mintel is looking beyond that. Nine years beyond that, to be exact.

A new report from market research firm looks at the seven drivers–wellbeing, surroundings, technology, rights, identity, value, experiences–of consumer behaviour that will shape global markets over the next 10 years.

Here we highlight the areas we feel will have the most impact on grocers and food brands.

TECHNOLOGY

Consumers will push back against cashless payments and unmanned stores. They’ll demand more privacy, while seeking more human interaction.

WELLBEING

Opportunities for brands and grocers to become wellness parters with their customers will continue to grow. Though a mass market approach will still have value, Mintel says wellbeing will move beyond lifestyle makeovers to more tailored solutions.

SURROUNDINGS

Competition for resources will rise and the cities will continue to expand, encroaching into rural farming areas. This will increase food production costs, “making even basic products more expensive for most people,” according to Mintel.

RIGHTS

Consumers are starting to realize how valuable their data truly is, and they’re demanding more for it. Moving forward, blockchain technology will put data ownership back into the hands of consumers and allow those consumers to determine who can access their information online.

EXPERIENCES

More than just marketing jargon, the term “experiential” is evolving. Technology is driving a lot of experiences, but that constant connectivity is also creating a demand for offline interactions to push the boundaries of what consumers have come to expect. “People will start to redefine what experiences they want as individuals,” says Mintel. “This will include the experience of doing nothing as people make more mindful decisions about what to do with their time.”

 

 

 

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