It’s the Little Things: Consumer Product Trends

1. Retail rebound

Retailers selling non-essentials have closed in an attempt to stem the spread of the coronavirus, placing an unprecedented burden on stores nationwide. But retail sales soared in 2021. They rose 7.8% year-on-year in February and 28.5% in March. This reflects the rebound from the 2020 low when stores were closed, suggesting what many economists dare to call an emerging recovery for retail. – Retail diving

2. Townhouse, rural clothing

The sharp increase in the number of city dwellers looking for outdoor experiences represents a notable opportunity for outdoor clothing brands. The outdoor clothing market is expected to grow by $ 3.9 billion between 2020 and 2024, as the global consumer base becomes more urban. More than 34% of outdoor customers currently live in cities, a figure that is expected to increase in the years to come. – Plain mode

3. Safety obsession

COVID-19 puts health and hygiene at the forefront of consumers around the world. Going forward, companies are encouraged to implement improved security measures and innovations that target concerns to reassure consumers. Companies that incorporate exceptional sanitation features into their products and services, while communicating these benefits, will attract safety-obsessed consumers. – Euromonitor

4. E-commerce fatigue sets in

Data shows that online experiences are not a permanent substitute for in-person experiences. About 46% of people polled in a survey by digital signage company Raydiant said they still prefer to shop in person rather than online. Those who prefer on-premises experiences cite the ability to store and directly view products, as well as the unique experience that a physical business offers. – Forbes

5. Consumers support activist brands

It has become essential for brands to reinvent themselves to stay in tune with the discourse on bias and inclusiveness. Market research firm Pipslay surveyed more than 30,000 Americans and found that 49% of American consumers view the overall trend in brand activism positively. The activism in question included changes made by brands such as PepsiCo, Procter & Gamble, Mars and Hasbro to logos and product names to address social issues such as racism and gender neutrality. – Marketing dive

6. Back on the social scene

If past recessions are any indication, consumer spending will spill over into all areas of retail as pent-up demand is unleashed. One difference, however, is that services were hit particularly hard this time around. As a result, businesses that have a social element, such as restaurants and entertainment venues, will undoubtedly benefit the most from the recovery. – McKinsey & Co.

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