Click here to close now.

SYS-CON MEDIA Authors: Dana Gardner, Elizabeth White, Jnan Dash, Kevin Jackson, Peter Silva

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
SYS-CON Events announced today that BroadSoft, the leading global provider of Unified Communications and Collaboration (UCC) services to operators worldwide, has been named “Gold Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BroadSoft is the leading provider of software and services that enable mobile, fixed-line and cable service providers to offer Unified Communications over their Internet Protocol networks. The Compa...
VoxImplant has announced full WebRTC support in the newest versions of its Android SDK and iOS SDK. The updated SDKs, which enable audio and video calls on mobile devices, are now compatible with the WebRTC standard to allow any mobile app to communicate with WebRTC-enabled browsers, including Google Chrome, Mozilla Firefox, Opera, and, when available, Microsoft Spartan. The WebRTC-updated SDKs represent VoxImplant's continued leadership in simplifying the development of real-time communication...
Chef and Canonical announced a partnership to integrate and distribute Chef with Ubuntu. Canonical is integrating the Chef automation platform with Canonical's Machine-As-A-Service (MAAS), enabling users to automate the provisioning, configuration and deployment of bare metal compute resources in the data center. Canonical is packaging Chef 12 server in upcoming distributions of its Ubuntu open source operating system and will provide commercial support for Chef within its user base.
The IoT Bootcamp is coming to Cloud Expo | @ThingsExpo on June 9-10 at the Javits Center in New York. Instructor. Registration is now available at http://iotbootcamp.sys-con.com/ Instructor Janakiram MSV previously taught the famously successful Multi-Cloud Bootcamp at Cloud Expo | @ThingsExpo in November in Santa Clara. Now he is expanding the focus to Janakiram is the founder and CTO of Get Cloud Ready Consulting, a niche Cloud Migration and Cloud Operations firm that recently got acquir...
PubNub on Wednesday released an open source template to allow developers to add Skype-like video chat into their apps. The free template provides a fully functional video chat platform using WebRTC, PubNub and Google Authentication for a global, reliable collaboration solution. “While the WebRTC protocol has created huge excitement as a way to deliver video chat ubiquitously, there’s still a gap between the protocol itself and the ability to deploy a working, globally scaled, collaboration appl...
Today, IT is not just a cost center. IT is an enabler and driver of business. With the emergence of the hybrid cloud paradigm, IT now has increasingly more capabilities to create new strategic opportunities for a business. Hybrid cloud allows an organization to utilize multi-tenant public clouds, dedicated private clouds, bare metal hosting, and the associated support and services for the right use cases through an on-demand, XaaS model. This model of IT creates tremendous opportunities for busi...
SYS-CON Events announced today that GENBAND, a leading developer of real time communications software solutions, has been named “Silver Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. The GENBAND team will be on hand to demonstrate their newest product, Kandy. Kandy is a communications Platform-as-a-Service (PaaS) that enables companies to seamlessly integrate more human communications into their Web and mobile applicatio...
SOASTA, the leader in performance analytics, today reported record growth of the CloudTest community, exceeding 30,000 registered users of the CloudTest platform in Q1 2015. SOASTA also announced widespread adoption of its Web and mobile testing solutions, with more than 1,600 customers completing more than 285,000 tests using CloudTest during the quarter. This rapid growth shows that DevOps-driven digital businesses are embracing a more continuous approach to testing, and CloudTest is meeting t...
ProfitBricks has launched its new DevOps Central and REST API, along with support for three multi-cloud libraries and a Python SDK. This, combined with its already existing SOAP API and its new RESTful API, moves ProfitBricks into a position to better serve the DevOps community and provide the ability to automate cloud infrastructure in a multi-cloud world. Following this momentum, ProfitBricks has also introduced several libraries that enable developers to use their favorite language to code ...
SYS-CON Events announced today that Optimal Design, an Internet of Things solution provider, will exhibit at SYS-CON's Internet of @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Optimal Design is an award winning product development firm offering industrial design and engineering services to the consumer, medical, and defense markets.
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists will discuss how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations m...
SYS-CON Events announced today that kintone has been named “Bronze Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. kintone promotes cloud-based workgroup productivity, transparency and profitability with a seamless collaboration space, build your own business applic...
SYS-CON Events announced today that Stratoscale, the new data center operating system, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Based in Herzeliya, Israel, Stratoscale is redefining the data center, developing a hardware-agnostic, software platform hyper-converging compute, storage and networking across the rack or data center. The self-optimizing platform automatically distributes all physical...
of cloud, colocation, managed services and disaster recovery solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. TierPoint, LLC, is a leading national provider of information technology and data center services, including cloud, colocation, disaster recovery and managed IT services, with corporate headquarters in St. Louis, MO. TierPoint was formed through the strategic combination of some of t...
How do you securely enable access to your applications in AWS without exposing any attack surfaces? The answer is usually very complicated because application environments morph over time in response to growing requirements from your employee base, your partners and your customers. In his session at 16th Cloud Expo, Haseeb Budhani, CEO and Co-founder of Soha, will share five common approaches that DevOps teams follow to secure access to applications deployed in AWS, Azure, etc., and the frict...