Magazine: Consumption trends in 2020

A study by Euromonitor International analyses the 10 trends with the biggest influence on the FMCG sector. As regards consumption habits, the two main themes in 2020 are likely to be convenience shopping and personal control.

The presence of robots and artificial intelligence (AI) in general is becoming more and more accepted in everyday life. Thanks to AI virtual assistants, smart devices, chatbots and various apps are in abundance in supply chain logistics, the operating systems of companies and the lives of consumers. Those generations which are growing up now expect AI technology to be integrated into products and services. Shoppers want free mobility in the crowded cities and consumers often use navigation apps to plant their routes. They demand real-time updates when travelling from A to B – and they want it in a personalised way. Transportation must adapt to the personal needs of people, 24 hours a day.

Browse, click and buy. Shopping habits have been changing in the last few years. Thanks to better technology, shoppers have access to more information, which needs to be filtered in a personalised fashion via authentic channels. Shoppers demand products and services targeted personally to them. Companies are spending fortunes on algorithms and data collection, so that they can target consumers with the greatest precision. This means that shoppers need to spend less time with finding the products they like.

People are leaving their homes less frequently than before, because they feel safer there and are less influenced by the information coming from the outside world. They can do their shopping from their homes, manage their affairs and work without having to leave the house. According to WHO, more than one billion people are living with some kind of disability in the world. A growing number of companies integrate their employment into their corporate strategies, or the products and services that make their lives easier.

How can people be local patriots and world citizens at the same time? While more consumers want to feel at home all over the world – at least online – people are also starting to realise that hyperconsumerism is bad and local communities need to be supported. The objective of the circular economy is to share, reuse, reload and rent instead of exploiting resources fully. For the young generations experiencing things is more important than owning them. This paradigm shift makes it possible for creating new, sustainable business models. Climate change puts great pressure on the world’s governments. It is every person’s fundamental right to breathe clean air, and companies are making great efforts to emphasise how eco-friendly they are through their products and services.

Mental well-being is one of the most important consumer needs in 2020. In the developed countries every fourth person suffers from anxiety, but only half of them get treatment – but sales of stress reliever products such as cigarettes and alcohol are reducing, as consumers prefer healthy products instead. As a conclusion, it can be said that convenience factors and personal control go hand in hand, complementing each other in the lives of consumers in 2020. In order to live a more convenient life, from time to time shoppers must give up their personal control. This means that firms must convince people that they can be trusted. //