Megatrends: Convenience – Impact on Consumer Goods and Services Categories

Delivery

This report comes in PPT.

Key Findings

In a moment of financial constraints, consumers search for benefits through convenience

As the world goes through uncertainties, interest rates are on the rise and employment slows down, consumers become more cautious in their expenditure and look for products and services that can offer multiple benefits, including intangible ones, connecting to other megatrends, such as Pursuit of Value.

Blurred categories favour consumer shopping behaviour

In the fmcg landscape, every time, more products serve two or more purposes, with clear examples in the beauty and personal care industry, where skin care and colour cosmetics compete for consumers, while in food, more ready meals tend to be shelf stable and closer to natural food.

Service providers pressured to adapt to new technologies

While in the consumer foodservice industry the use of artificial intelligence to build menus and identify consumer preferences is on the rise, the consumer finance industry is heavily impacted by ultra-fast payments and all-in-one apps bringing more competition, but also opportunities to increase the number of banked people.

Food and drinks players trying to explore healthy claims through convenience

Usually perceived as unhealthy, convenient food has been going through rapid transformation as snacks are usually added with proteins, vitamins and other healthy inputs, and powder beverages are exploring the hydration and energy boosting space to sell to a new group of consumers.

Relatively behind other industries, travel takes steps to improve consumer experience

Fast passes and loyalty programmes have long been used by the travel industry. Recent initiatives that eliminate bureaucratic processes in airports and facilitate the travel experience have been tested by the industry, but a joint effort by different stakeholders will be necessary to increase travellers' experience globally.