We just released our annual Top 5 Consumer Trends to Watch ebook for 2022. In it, we share our findings related to specific industries and wider trends to help businesses like yours prepare for the year ahead. In this year’s report, we’ve highlighted some of the outcomes of pandemic-driven shopping behaviors that have significantly changed since Covid-19 and new habits that are forming.
One of the trends we identified involves a buzzword that took root before the pandemic thanks to influencers like Marie Kondo: minimalism. Across nearly every market segment and market category, consumers are beginning to explore their desire to not just do more with less stuff, but also buy higher-quality items that endure longer or of which they can use more.
I was not surprised that shoppers are willing to spend more on these items. However, it was interesting that a sub-trend emerged which is the urge to prioritize experiences over material goods – not surprising after two years of often being shut indoors due to the pandemic.
- 60% of the travel consumers we polled for our research are interested in trips focused on enjoying the experience, prioritizing meaningful interactions like amazing customer service and thoughtful approaches over luxury decor and amenities.
I’ve personally experienced the fusion of these two trends in my own life recently.
I have a sister who loves to shop. So, this past holiday season, I purchased a bunch of VISA gift cards so she could enjoy the thrill of the hunt for a new item or deal. As we crept into January, I fully expected to hear about the purchases my sister had made with the gift cards.
But instead, I got a text from my sister at the end of January that read, “I’m using your Christmas gift to do fun things…I am planning one thing a month for the next couple of months.” During a phone call with my sister, she told me that after two years of staying home because of COVID, she just didn’t love shopping like she used to. Now, she just wanted to spend time connecting with people.
With that conversation, the reality of all the shopper insights research we’ve been conducting hit home. We have helped many clients navigate through emerging shopper segments and map significant changes in shopper journeys. While I have been seeing trends like minimalism for months in our research, this was my most significant personal experience. It was the moment in which I wasn’t just helping a brand find its place, but personally modifying my own expectations.
As you experience shifts in your own shopping behavior and your brand navigates through these new consumer journeys, I’d love to hear your experiences, as both a brand and a consumer. Let’s talk about this new world and determine the right path to either re-igniting old passions or finding new ones, both for our customers and ourselves.