Euromonitor’s Top 10 Consumer Trends for 2011.

Euromonitor have published their Top 10 Consumer Trends for 2011 (http://blog.euromonitor.com/2011/05/top-10-consumer-trends-for-2011.html). It tells you what will motivate today’s consumer to spend; if you supply the consumer market with goods or services, this report gives useful information on what is being sought. From this, you can adapt your marketing to meet the demands.

This is my summary of the report’s 10 trends:

1. Thriftier lifestyles, even with high value purchases. Everyone now checks online for value.

2. A good retail experience and good customer care.

3. Something called “GLOCAL”. Buying local to save resources, but still wanting products which are globally influenced, i.e. global style but locally produced.

4. Healthier lifestyles but not forgetting vanity and style.

5. “Green” offerings which much be cheap or affordable.

6. Shopping as leisure and paying for convenience.

7. A return to luxury; handmade goods with an eco influence plus affordable indulgences.

8. Affordable mobiles personalised with the right Apps.

9. Digital entertainment: the “need to be connected, entertained and informed 24/7”. Digital is the way to connect with others, email is too slow and social networks are now an integral part of the lifestyle.

10. “Culture is physical, digital, high, low, authentic and ideal.” Brands need to understand this and relate to their potential consumers. Traditional advertising is no longer enough.

I have a lot of time for Euromonitor reports and their accuracy in assessing the markets. I doubt that many businesses could incorporate all 10 of the points, but consumer businesses will need to acknowledge as many as they can.

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2 thoughts on “Euromonitor’s Top 10 Consumer Trends for 2011.

  1. Thanks for this useful summary. It makes me optimist that my retail business is geared up for the future. A comment and a question.
    I understand that digital is the growing trend (even though it’s not entirely compatible with the trend to authenticity)but it seems to me quite a stretch to say that social networks have replaced email (or snail mail). Lots of people are not members of social networks and many more would rather send or receive the occasional email communication than be in a permanent relationship with a business, where commercial posts or tweets clog up their networking with friends and colleagues.
    Aren’t numbers 9 and 10 seem to be two sides of the same coin? Perhaps I’m just not clear about the definition of ‘culture’ in this context. Is it the equivalent of lifestyle or of leisure activity? Either way, I get that there are many ways in which people communicate with each other about their lives (digital being the latest) and that we need to make sure we are present in all these dialogues.

    1. Thanks for your comments. My understanding of the point that email is too slow is that it is too slow for the “digital” consumer that the report refers to. Relationship building appears to be the focus of today’s marketing. The sales call – in person, by phone, email – and even traditional advertising are now regarded as intrusive and seem to be seriously out of favour. Now businesses should “attract” customers by the quality of their website and online PR, e.g. Twitter, Facebook and blogging.

      Having said all that, I am told of a craft business that advertises a catalogue of their products in magazines. The customers have to post a written request for the catalogue and pay for it as well. This business serves the non-Internet market which is still very active, although declining.

      Points 9 and 10 again emphasise relationship building, with the marketing of products and services being promoted and accepted as popular culture. Whether culture refers to lifestyle or leisure, I would go for lifestyle.

      I totally support your last point in that business needs to be present and visible wherever your customers are.

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