Consumer Trends.

Do you know the top make-up trends of 2022? Will there be a massive shift towards 5G compatible phones next year? Will more people travel overseas? Such posers have intrigued you, haven’t they?

A different style of behaving, a new perspective or attitude, a new benchmark established are all called trends. Some trends that change the way we consume result into consumer trends.

Consumer behavior has altered dramatically as a result of the pandemic, and some trends have emerged which are beneficial to numerous businesses. A few of these are hybridization, vocal for local, nature inclination, demand for eco-friendly products, health and wellness, awareness for mental health, DIY products, demand for green products and a few others.

Hybridization is a new trend that has evolved recently as a result of technological advancements during the pandemic period. Hybridization combines the best of both offline and online for working and learning in groups. When it comes to educational institutions, hybrid classes (both online and offline) are being preferred to ensure safety and smooth functioning of the institutions. 

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This concept of hybridization is even preferred by many business organizations that allow a few key staff to return to office and allow others whose jobs can be seamlessly done in an online mode to work from home.

Another trend that emerged during the outbreak of the pandemic is #vocalforlocal. When nations came under lockdown, there were supply shortages, demand for essentials and a breakdown of an efficient logistics network.  

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This led to a call to create an ecosystem of producers and consumers using local resources and networks. Consumers who formerly supported the large online retailers are now reverting to shopping locally in order to support local companies. Many local businesses have come up with various social media influencers to market their products and encourage the consumers to shop for domestic products.

As the pandemic situation started to worsen, people from different walks of life dealt with the situation differently. People suffered job losses, loss of near and dear ones, and a future that was gloomy and unknown. This resulted into a desperate call for support. For the first time, the need for awareness about mental health issues reached a new decibel. There were many initiatives taken by influencers/ celebrities to raise the issue of mental illness and to motivate people to come up and talk their problems out. Businesses too drifted along, like the Hyatt group of Hotels that linked up with the Headspace meditation app, which offers free meditation and sleep therapy.

As individuals became more aware of mental health, there was a renewed interest in physical health and wellness. 

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Home workouts became popular during the pandemic, and they were an essential part of self-care regimens. During the continuous fitness boom, many fitness applications such as 7-minutes, Fit-On, and others emerged.

At the same time there was a shift towards using eco-friendly products. This led to several changes in the product strategy of companies. The cosmetic industry initiated ingenious zero-waste packaging and solutions are currently being developed. Many cosmetic and skincare brands are using this as a tool to market and sell their products with more variety and in lower prices. Social media influencers are influencing the change further by opting for products that are environmental friendly. Electric vehicles, solar panels, and vegan diet are in higher demand as people become more environmentally conscious.

With masks becoming the new accessory the world over, the beauty and fashion industry kick started  trendy eye makeup and colourful and vibrant fashion. As lockdown continued and people continued to stay indoors, cooking, home décor, beauty and fashion treatments, crafting, gardening and other home-bound activities became the new trendsetters and created a market for do-it-yourself (DIY).

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To conclude, organizations stand to benefit from these consumer trends if they are watchful of new patterns of behavior and adapt quickly. 

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The first step is to learn about trends and determine which ones are appropriate for a company to focus on. Businesses will succeed if they can capitalize on the right consumer trend at the right time.