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2010 Consumer Trend Predictions
2010 Consumer Trend Predictions
2010 Consumer Trend Predictions
2010 Consumer Trend Predictions
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2010 Consumer Trend Predictions

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In a year where the global economic crisis has made its presence felt, Mintel predicts the seven key consumer behaviour trends for the year ahead, looking at how adversity has created a new set of …

In a year where the global economic crisis has made its presence felt, Mintel predicts the seven key consumer behaviour trends for the year ahead, looking at how adversity has created a new set of value systems.
While in 2009 fear played an important role in shaping consumer behaviour, 2010 will see a return of confidence and adaptation to overcome the restraints previously imposed on consumers.

Learn how the following trends are evolving:
Resilience
Reviewing and Re-evaluating
Prove it – Accountability
Escapism
Media Evolution
Ethical Responsibility
Stability

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  1. MINTEL PREDICTS CONSUMER BEHAVIOUR TRENDS FOR 2010 In a year where the global economic crisis has made its presence felt, Mintel predicts the seven key consumer behaviour trends for the year ahead, looking at how adversity has created a new set of value systems. Resilience will define consumer behaviour around the globe as strengthened resolve and changed behaviour drive a new lifestyle. While in 2009 fear played an important role in shaping consumer behaviour, 2010 will see a return of confidence and adaptation to overcome the restraints previously imposed on consumers. Balance has become the new mantra for a changed society. A balanced cheque book, and a balanced diet are all hot topics, but as some consumers find that they are able to spend again, 2010 could find balanced spending and balanced consumption key developments for the year ahead. Below, Mintel identifies the key trends which will have an impact on consumer lifestyle in 2010: Resilience What is Resilience? Following a year in which consumers have faced the impact of the recession on their lives, 2010 will see social and behavioral shifts resulting from the recession. In 2010, Mintel expects to see a trend towards resilience - consumers demonstrating an ability to recover from, or adjust easily to, any misfortune or change brought on by the recession with improved attitudes and strengthened resolve. Resilience will encompass a new skillset for consumers as in the “New Economy,” cooking, meal planning, and food budgeting are moving back into the fore as skills that women – and men – would like to have. What is the current situation? Around a third of UK consumers see growing fruit and vegetables as a good way to cut bills and after years of relying on restaurants and food manufacturers to provide ready-to-eat meals, many of us are in need of some basic cooking lessons. Meanwhile, a quarter of US consumers say they can’t make the DIY improvements they would like to due to lack of skill - highlighting another example of a skills gap which could be closed. What’s next? With many consumers still feeling the effect of the global downturn with lack of work, 2010 may see those unemployed look to online education tools to help them develop additional skills whether for the home, social or professional gain. Indeed, Mintel predicts a rise in the new skills consumers need for today’s changed society. More than ever before, the home is at the centre of everything for consumers. Businesses that can incorporate this changed mentality - and deliver what consumers need as a result - stand to benefit. continued... © 2009 Mintel International Group Limited. All Rights Reserved. Confidential to Mintel. www.mintel.com
  2. Reviewing and Re-evaluating What is Reviewing and Re-evaluating? The impact of the past year has changed consumer lifestyles and attitudes, and Mintel forecasts that 2010 will see consumers re-evaluate their current situation. The past year has increasingly seen Value become an important part of the new economy. Mintel has seen a surge in value initiatives, and even those seemingly unaffected by the recession have made cut backs to obvious status symbols out of respect. However looking ahead, the meaning of value will run deeper – price matters in 2010. What’s the current situation? Consumers today are far more deal-conscious and are cutting back on treats and luxuries to save money. Mintel research shows that in the UK, over half of Brits buy more on promotions and 28% have cut back on treats and luxuries. Meanwhile, in the US, middle-income households have been hard hit, as those with household income of $25K-75K are most likely to economize. However, even upper-end and luxury markets are benefitting from offering special deals or showcasing high-value, as in the US six in 10 households with incomes of over $100K report spending less. What’s next? Budget brands of the major grocers and discounters are benefiting from the trend to down-trading, with 36% of UK consumers buying more Budget Own Brands. However, in 2010, we will see consumers willing to purchase if they are convinced of the ‘value’ that brand offers. Consumers will not just buy discount brands, they will scrutinise products more, and buy those that they perceive as being good ‘value’. Therefore in 2010, those brands that engage consumers effectively stand to be successful despite current barriers such as price. Prove it – Accountability What is Prove it – Accountability? Because consumer confidence worldwide this year has taken a hit, 2010 will see increased consumer demand for proof – or results. The need for accountability is, in itself, nothing new, but today there’s so much information and competing ideas, ideologies, and options to wade through that without data all is lost. We’re tracking more and more areas of our lives. What’s the current situation? The explosion of micro-blogging site Twitter in 2009 has enabled users globally to track their followers and resulting analysis websites have enabled them to evaluate their status, judge popularity and ultimately aim for more exposure. In the modern world, personal informatics, or life-logging projects, are part self-help, and part fun. Furthermore, there are a growing number of online tools to help people pay attention to virtually everything, ensuring transparency – everything is out in the open in the internet age and secrecy is no longer acceptable for today’s consumers. In the UK, recent Mintel research shows that around 16 million adults use personal finance discussion boards and 23 million use price comparison sites when looking for guidance on financial products – looking to get the ‘real story’ on deals available. Meanwhile in the US, some 42% of consumers indicate they don’t know what to believe as to whether natural and organic personal care products actually are natural or organic. What’s next? As consumer demand for accountability intensifies – and with more tools at their disposal to find out – Mintel predicts that in 2010, brands will need to pull out all the stops to deliver. continued... © 2009 Mintel International Group Limited. All Rights Reserved. Confidential to Mintel. www.mintel.com
  3. Escapism What is Escapism? The past year has meant a huge amount of economising and scaling back on previously normalised treats or experiences. While consumers are becoming accustomed to staycations, small indulgences, cooking at home, and home entertainment, their discipline is not perfect and Mintel predicts Escapism to be a key trend of 2010. Consumers will look for ways to escape from the tyranny of value, cutting back and saving such as splurging or lashing out on a big purchase – consumption has never been solely rational…and it never will be. What’s the current situation? Not only do consumers have more to watch than ever – with use of multichannel TV, video on demand and TV online continuing to rise – but consumers are investing in increasingly larger and more sophisticated home equipment (such as widescreen and HD-ready TVs) to watch it on, ramping up the ideas of escape and immersion in entertainment. In the US, Mintel research reveals some 34% of consumers are interested in flat-panel televisions for themselves, while 27% are interested in purchasing a laptop PC for themselves. What’s next? In 2010, Escapism will resonate both in and outside of the home. Savvy brands are already capilitising on differentiation into experiences and the merging of mediums such as 3-D media, audio literature and vertical integrated platforms has created a new landscape. A plethora of elements are being gradually turned into experiences and attractions and in 2010, this will provide the key to delivering the escape consumers are seeking, going beyond the price tag to deliver real value. Media Evolution What is Media Evolution? The past year has seen an explosion of consumers adopting Micro-blogging, social networking, and interactive media as part of their everyday lives. As confidence in usage grows, 2010 will see consumers incorporating these forms of media ever more into their daily lives and looking for ways in which doing so can change and simplify daily tasks. Consumers will increasingly look for what’s next in the media sphere and want to examine how these changes will affect the way they do things. What’s the current situation? Technological innovation is increasingly usurping the traditional way of doing things and consumers are seeking to make decisions about media influence, where they go to get information and the gadgets they use to receive it. Viewing habits are changing and fragmentation is growing, meaning advertising is changing too – more potential for targeting in unusual places, such as TVs on public transport. What’s next? While in 2010 use of these tools will continue to evolve, the big questions for consumers will revolve around the nature of authority and effective uses of media to engage. Media evolution will continue to be a growing influence on the method in which brands interact with and attract consumers. In 2010, the emphasis for consumers will be sourcing engagement at a wider level than ever before and harnessing the growth in partnerships and technology in order to achieve it. continued... © 2009 Mintel International Group Limited. All Rights Reserved. Confidential to Mintel. www.mintel.com
  4. Ethical Responsibility What is Ethical Responsibility? While we’ve witnessed the rise of corporate social responsibility and sustainability efforts over recent years, in 2010 it’s going to be even more important to coax consumers out of their spending slumber and to wean retailers off perpetual discounting. Ethics will play a large part in building up brands and influencing purchase. For businesses to rebuild brands through ethical efforts they will need to consider the connection with the consumer – giving an emotional reason to buy. What’s the current situation? Environmental and ethical issues retain the power to attract attention and spend with nearly half of UK adults (25 million) viewing them as important or very important and in the US 39% say they’d pay more for environmentally friendly products. Awareness is fast becoming a key driver in consumer engagement. Currently just 30% of tea drinkers in the US say they usually purchase fair trade certified tea and in the UK 44% say they actively look for appliances that use less water. What’s next? While price implications still resonate, raising awareness of ethical responsibility in 2010 and its associated benefits for the consumer in 2010 will pay dividends for the industry. In addition, 2010 will see activity in eco-friendly labels and inks, and subtle changes in packaging. As consumers are ever more demanding, they will want responsibility to be a chief concern for brands and businesses, creating more scrutiny on ethical claims than ever before. Stability What is Stability? The overall effect of the past year has left its mark on consumers around the globe. We have left the spending binge of the past few decades and have just now begun to find that moderation and preparation are possibilities. Mintel predicts 2010 will be a year for increasingly seeking balance and readjusting to the economic situation as it is now and adapting lifestyles accordingly. What’s the current situation? The world is already responding to this demand in many industries as it impacts at the end of 2009. Luxury designers have begun offering lower priced lines, pushing fashion back from its elite status so that it sits between expensive and discount. In addition, increased manufacture of multi-use products are helping people save money by doing a little of everything. Food is also affected by consumer reaction to this, with “real’ food back on the menu once more due to consumer demand. What’s next? Balance has become the new mantra for a changed society. A balanced cheque book, a balanced diet are all hot topics, but as some consumers find that they are able to spend again, 2010 could find balanced spending and balanced consumption the key developments for 2010. © 2009 Mintel International Group Limited. All Rights Reserved. Confidential to Mintel. www.mintel.com

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