Famed market research company, Mintel, published a very interesting report outlining what they see as the five key consumer trends most likely to impact the market (and marketing), in 2016.
Here is a brief summary of the key trends discussed in the report.
Water shortages across the world will impact on the availability and price of certain products (e.g., almonds, coffee, and even meat), as well as on new product development and the positioning of certain brands.
Increasingly space-pressed, and time-pressed, societies, will favour space and time saving solutions, and will create new market practices based on the sharing economy.
The popularisation of virtual and augment reality technology will create a more visually focused consumer, and extend into entertainment, product trial, and training applications.
Consumers are increasingly concerned over the sourcing, ingredients and production ethics of food, beauty and household products, which will lead to scrutiny of brands’ production practices, particularly if the Transatlantic Trade and Investment Partnership between the US and the EU is approved.
The use of beacon technology is likely to expand, particularly in the retail and leisure environments, which will support very targeted and customised interactions, and the popularisation of contextual marketing.
You can download the full report here. It is a great read – I recommended it!
I am dreading the popularisation of virtual and augmented reality devices, but very much looking forward to clever use of beacon technology. What about you?