INTO 2021 WEB VERSION: Click Here
and canned goods to yogurt and easy meals, people are buying more than ever.
• Sustainability and focus on a healthy planet: At the height of the pandemic, many were in favour of products that provided the highest level of virus protection as opposed to worrying about environmental impacts. But that has since shifted. Consumers have a renewed focus on the environment.
Key takeaways: In 2021, consumers will spend on FMCG/CPG products, and brands must ensure they’re in touch and presenting brand messages that resonate.
We expect that FMCG/CPG companies are laser-focused on solving distribution and eCommerce challenges. Brands that fail to consider eCommerce and new ways to get their products to consumers will suffer long- term consequences.
Trend: People are spending money on themselves where it counts. From health and fitness to entertainment and travel, consumers are increasingly investing in themselves.
Here’s what we’re seeing in the health and fitness space:
• The 2021 consumer is ready to commit to at-home fitness and exercise. Peloton, the Mirror, and many other home-based gyms that were on the decline or experiencing f lat growth before the pandemic have had a resurgence.
• As local gyms faced with continued restrictions, today’s consumer is spending money on multiple forms of fitness, from streaming solutions to in- home gadgets.
• This generation is accustomed to engaging in exercise in multiple forms — from classes to subscription to fights the tendency to get bored.
When it comes to entertainment, here’s how things are trending:
• With more time on their hands, we’re seeing people engage in new forms of entertainment across the board. From reading to traditional and online gaming, they’re willing to invest in new ways.
• We’ve seen apocalyptic impacts on the entertainment industry from movie theater closures to delayed premieres, but the industry has found new ways to engage consumers, deliver content, and provide entertainment.
Here’s what’s happening in the travel industry:
• As we gear up for December holidays that will follow a period of lockdown for consumers, we expect to see people celebrate closer to home, with smaller groups of family and friends. Airlines and holiday destinations will take another hit.
• While there are few bright spots as it relates to travel, we’re seeing a renewed interest in closer-to-home destinations, outdoor
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camping, and for some, camper or van rentals and outdoor gear.
Key takeaways: As with home improvements, there’s a continued opportunity for expansion in the health and fitness category.
We see areas of opportunity for entertainment streaming, and a likelihood these subscriptions will continue. Platforms and games that can be played with others are especially popular and will continue to be. Gaming consoles and mobile gaming have become a new means of bringing people together.
Fortunately for the travel industry, while travel is less possible, the desire for travel remains for many. More than 70 per cent report looking forward to making holiday plans in 2021. The desire to travel remains, and consumers will prioritise travel when the opportunity presents itself.
Many have said that 2020 has accelerated cultural changes that would have otherwise happened; just at a slower, less concentrated pace.
We’re seeing a new consumer emerge in 2021. One that has turned back time in some ways, and accelerated it in others. The 2021 consumer is more wired and technology- focused than ever before. They’re savvy shoppers who value personal connection, family, and self-care.
Here’s to a healthy and prosperous 2021!
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