Welcome!

News Feed Item

Top 10 Global Consumer Trends for 2014

CHICAGO, ILLINOIS -- (Marketwired) -- 01/14/14 -- Editors Note: There is a video associated with this Press Release.

Market Research Company Euromonitor International released today a new report identifying the top 10 consumer trends for 2014 with a focus on consumer behaviors and beliefs going into the new year.

According to the consumer trend report, there is an overwhelming desire globally to indulge in luxury goods, download more apps and document experiences visually through social media. However, consumers are also struggling with work-life balance, maintaining an eco-friendly lifestyle and eating better. These trends are sure to change the way brands appear and interact with consumers and in turn, brands will need to work harder to maintain customer loyalty.

The Top 10 Global Consumer Trends for 2014

1. A Narrowing Gap Between Interest and Purchase

As consumers are looking for instant gratification with various products, brands are looking for ways to harness customer impulse buying. Most recently, MasterCard announced a partnership with publisher Conde Nast in an app called ShopThis, allowing digital consumers to instantly buy items they see in a magazine ad or an item of clothing worn by an actor in a film.

2. Eating Right

Interest in eating right goes beyond the obesity statistics - many are aware that healthy eating can improve quality of life and extend longevity. Also, many are discovering food sensitivities and are looking to purchase "free-from" products. According to Euromonitor International's 2013 Global Consumer Trends Survey, online consumers are willing to pay more for food items with specific benefits, such as added nutrients.

3. Eco-Worriers and the Blooming of Social Conscience

Consumers are increasingly looking to connect with brands, business models and products that do not associate with negative environmental or social impacts. A new lifestyle platform called SHFT is aiming to convey a new, more sustainable approach to the way we live. Created by actor Adrian Grenier and producer Peter Glatzer, SHFT believes "Sustainability should be folded into the fabric of our lives... and nudge us further towards the sustainable direction in which we're inevitably headed."

4. Home Base: The Importance of Home and Community

A homebody is not just a person anymore but also a state of mind as consumers are centering more of their entertainment in the home. According to Argentina's newspaper, La Nacion, "You can get a professional chef to cook for you, host a band for an exclusive show in your living room or attend a play in your garden." Consumers are also members of multi-generational households, due to rising costs of childcare, housing and eldercare. Multi-generational living is important in terms of purchasing, as a mix of generations will influence buying behaviors for food, holidays and technology choices.

5. Frustrations with the Lack of a Work/Life Balance

An unfulfilled work/life balance will be a widespread source of consumer stress in 2014. Many believe that mobile connectivity is blurring the work/leisure divide, creating more stress while others believe it may relieve pressure on working consumers. According to Euromonitor International's 2013 Global Consumer Trends Survey, two-thirds of consumers say they are actively trying to simplify their current lives. While the majority of consumers make financial security concerns a priority, others are questioning personal and career satisfaction and goals, and opting for simpler living.

6. Luxury for More Consumers

In 2014, consumers are still looking to purchase luxury goods. However, more consumers want to get their hands on luxury items for less. Japanese consumers are option for more "affordable luxury" in greater numbers. For example, popular purchases include cashmere sweaters at fast-fashion retailer Uniqlo and gourmet coffee at 7-Eleven convenience stores.

7. People's Choice

Digital technology has given people the power to react to what displeases them in minutes and enables them to become brand ambassadors, spreading the word about good buys when satisfied. Consumers can influence others purchasing habits thanks to social networks, so brands need to work harder than ever to earn consumer loyalty in 2014. Transparency and sincere apologies earn consumer respect.

8. Post-Recession Coping Strategies the New Normal

While many cash-stretched consumers are still suffering from the remains of the recession, post-recession coping strategies are about how people behave after processing the shock of living in recession. Many consumers have modified their buying behaviors and started doing things such as thrift-store shopping, relying on credit and considering collaborative consumption. Two-thirds of respondents in Euromonitor International's 2013 Global Consumer Trends Survey agree that finding bargains while shopping is something they enjoy.

9. There's an App for That...

With global consumers relying more than ever on mobile technology, it is no surprise apps will continue to grow in popularity in 2014. Apps are indicators of consumer interests and offer marketing opportunities for brands. New apps in the UK for 'smarthomes' enable users to remote control their home, such as the Hive Active Heating app from British Gas. A UK budget hotel chain, Premier Inn, recently revealed a new app allowing guests to control lighting and entertainment through their mobile phone.

10. Visual Craving

Consumers are becoming a visual audience. Those who are digitally savvy can take their pick from popular software apps such as Vine and Instagram to showcase their life pictorially. However, it is making it hard for consumers to grasp reality amongst "perfection" found in filters and editing. A blog, Filter Fakers, scours Instagram for those pretending their photos have #NoFilter. Once found, they out them for the Internet to mock. Meanwhile, another blog called Pinstrosity asks readers to submit pictures of their DIY and cooking projects gone wrong.

For more information and access to latest consumer briefing please see: "http://go.euromonitor.com/top-10-global-consumer-trends-for-2014-white-paper.html".

About Euromonitor International

Euromonitor International is the world's leading provider for global business intelligence and strategic market analysis. We have over 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.

We deliver market research solutions to support strategic planning for today's increasingly international business environment. Our research offers in-depth market analysis on consumer goods and services industries worldwide, as well as economic, demographic and socio-economic data and insight on countries and consumers.

Euromonitor International is headquartered in London, with regional offices in Chicago, Brazil Singapore, Shanghai, Vilnius, Santiago, Dubai, Cape Town, Tokyo, Sydney and Bangalore, and has a network of over 800 analysts worldwide.

To view the video associated with this press release, please visit the following link:

http://www.youtube.com/watch?v=yVtXoUl66bM

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, will compare the Jevons Paradox to modern-day enterprise IT, e...
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, discussed how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved efficienc...
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
SYS-CON Events announced today that CDS Global Cloud, an Infrastructure as a Service provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CDS Global Cloud is an IaaS (Infrastructure as a Service) provider specializing in solutions for e-commerce, internet gaming, online education and other internet applications. With a growing number of data centers and network points around the world, ...
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.