research company Euromonitor
International revealed today the eight megatrends set to shape
industries and consumers through to 2030.
According to the report, ‘Megatrend Analysis: Putting the Consumer at
the Heart of Business’, a megatrend is a long term shift in behaviour or
attitude that has a global impact and crosses multiple industries. One
standout megatrend identified by Euromonitor International is the
“Middle Class Retreat” asserting that the middle classes in developed
markets struggle to maintain the economic position they enjoyed before
the global financial crisis. “An aspect of this megatrend is the idea of
‘Glorified Frugality’ which sees the middle class consumer celebrating
how little something costs, whilst also reducing waste. To win these
frugal consumers, businesses must design for longevity, emphasising good
quality, re-use and ease of maintenance and look for ‘revolutionary’
takes on value,” states Euromonitor International’s Director of
Economies and Consumers, Sarah Boumphrey.
The report also highlights the “Shifting Market Frontiers” megatrend,
bringing new markets into the spotlight, as some areas of the globe
reach their maximum potential, while others gain prominence for their
unexploited potential. “China is a case in point, as market saturation
and competition intensifies in the country’s major cities, businesses
must shift their interest to fast growing mid-sized cities. Rising
business investment, increasing disposable incomes, better
infrastructure and the growing adoption of high-speed internet have laid
the foundations for mid-sized city growth in China. For instance, the
city of Xiamen on China’s southeast coast is predicted to triple its
consumer market size in real terms by 2030, making it larger than Rome,
Munich or Barcelona,” explains Euromonitor’s International Head of
Client Innovation, Zandi Brehmer.
The complete list of Megatrends includes:
- Middle Class Retreat
- Experience More
Shifting Market Frontiers
- Ethical Living
- Shopping Reinvented
- Connected consumers
Megatrend analysis helps businesses anticipate market developments and
lead change for their industries, as shifting economic power,
technology, population change, environmental pressures and changing
values take place.
To download the free report, visit: http://go.euromonitor.com/white-paper-2017-megatrend-analysis.html
About Euromonitor International
International is the world’s leading provider for global business
intelligence and strategic market analysis. We have more than 40 years
of experience publishing international market reports, business
reference books and online databases on consumer markets.
Asti Michou, +44 (0) 20 7251 8024 ext.