Technology, customisation and sustainability are the three significant drivers impacting the eight key megatrends identified by Euromonitor International.
By the end of 2019, 72% of the global household population will own at least one smartphone, with more than 100 million online users located in China and India alone, making technology one of the key megatrends’ drivers. “Technology has become such a big part of everyday life that the word ‘Nomophobia’ has been given for the irrational fear of being without a mobile phone,” says Alison Angus, head of lifestyles at Euromonitor International.
Intertwined with technology, customisation is the second driver reinventing shopping experiences. According to the white paper ‘2019 Megatrends: State of Play’, as consumers are increasingly seeking a personalised purchasing journey, retailers are altering the concept of shopping by integrating artificial Intelligence, 5G and social media into everyday lives.
With 65% of global consumers prioritising the need to make a positive impact on the environment, sustainability is the final key driver. As consumer activism is rapidly rising, governments worldwide are committing towards sustainable growth and challenging corporations to offer sustainable solutions. “The change in consumer demands will contribute towards a rise in investments amongst emerging economies, driving businesses to develop innovative strategies to meet those demands” concludes Angus.
To understand how the eight megatrends have been evolving through the three key drivers, download the free whitepaper here
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