Understanding the Five Drivers of Megatrends

July 2022

To stay ahead of changing consumer priorities and values, companies must embrace megatrend analysis. To do so effectively, they must see the full picture and understand the social, economic, technological and environmental factors which underpin changing consumer behaviour. This report gives an overview of the five drivers of megatrends identified by Euromonitor International:

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This report comes in PPT.

Key findings

Shifting Economic Power

Rapid economic growth in emerging and developing markets is forging new openings for investors who are keen on diversifying away from stagnating advanced economies. Emerging and developing Asia remains best placed for growth with China, India and Pakistan projected to add the largest number of middle-class consumers of any country over 2021-2040.

Population Change

Rising life expectancy leads to a growing number of senior consumers. Numerosity, affluence and the abundance of time make this cohort the consumer force to be reckoned with. Yet, the shrinking labour forces increase competition for talents, particularly in developed countries. Growing immigration might help, spilling over into higher productivity, multiculturalism and diversity across the employee pool.

Environmental Shifts and Pressures

Increasingly pressing environmental issues are driving innovation and demand for green products. However, amid current economic uncertainty, the challenge for businesses is to develop cost-effective products that are sustainable at a more reasonable price.

Technological Advances

Technology continues to advance at a rapid rate, increasingly becoming interwoven into consumers’ lives, reshaping their behaviour and the expectations they have of products and services and the companies behind them. Digital investment is no longer optional for any business, but a necessity to stay relevant and competitive.

Changing Values

Cautious consumerism, triggered by the growing cost of living and lingering political and economic uncertainty, is penetrating consumers’ hearts and wallets. Consumers identify with their purchases, supporting the companies that correspond with and boycotting the brands that do not share their beliefs. The importance of trust, authenticity and uniqueness grows as every consumer voice matters. 

There are five socioeconomic drivers shaping consumer megatrends
Key findings
Emerging/developing markets are getting wealthier and generating greater economic value
Emerging and developing Asian consumers are the key drivers of global spending
Netflix is keen to expand in Asia amid subscription woes in advanced markets
Sub-Saharan Africa is a rising consumer market but is hampered by numerous challenges
Uber hits one billion rides in Africa as demand for mobility grows among young Africans
Shifting economic power : What you need to know
Global population in 2040: Older, urbanised, multicultural and childless
Silver consumers are redefining consumption and business operations
Migration is the way to grow population and productivity
Population change: What you need to know
Home healthcare: Finland is leveraging tech for the elderly
Go Asia: Capturing consumer food trends in Germany
Environmental shifts and pressures shaping consumer choices and business strategies
Climate change to shift consumer purchasing behaviours
Affordability of sustainable products is key to win consumers
Environmental shifts and pressures: What you need to know
Quorn: Carbon footprint transparency through claims
Amazon: New affordable brand focused on sustainability
Technology key to today’s digitally enabled consumer
Mobile technology democratises internet access for all consumers
Technology sophistication driving changes in consumer expectations
Technological advances : What you need to know
Case Study: V-Avenue.Co leverages AR to power a new digital shopping experience
Case study: Adidas’s new company strategy focuses on data-driven customer loyalty
Changing values: Cautious spending, social activism and self-care gain momentum
Rising cost of living leads to cautious but smart spending
Power to the people: Growing importance of trust, authenticity and uniqueness
Changing values: What you need to know
Nudie Jeans builds trust by showing consumers how its products are made
Ahold Delhaize offers rewards for buying healthy food
Looking ahead we will continue to see the drivers of megatrends evolve
Significantly impacting business strategy planning


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