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How Covid-19 brought the future forward (Part One)

COVID-19 is having a profound impact on the global economy and consumer markets. Mintel examines the big shifts in behaviour that have taken place thus far, the changes it expects will persist, and predictions for the future.

Many of the predictions set forth in Mintel’s 2030 Global Consumer Trends have been accelerated.

Wellbeing

Seeking physical and mental wellness.

Mintel’s predictions

  • Conscious movement and mindful exercise will become as important as physical fitness.
  • Increased focus on air quality and air filtration systems in the home.
  • A re-imagining of what a “clean and safe” home looks like.
  • Technology will create room to embrace fitness in smaller spaces.

What’s shifted

Globally, we are experiencing a collective grief unlike anything before, and while much of what is felt today is temporary, there will be lasting impacts on individual wellbeing.

As a result, our attitudes toward mental health are changing, with people more open to talking about their struggles, and Mintel predicts that support for mental health conditions will become an essential part of the healthcare system.

COVID-19 has reinforced the importance of having a healthy immune system, which also includes strong mental health. Products that offer immunity benefits will surge as people look for ways to protect themselves from a second wave or as a way to support their immune system for ongoing protection.

Consumers are turning to stress-relieving, calming, and comforting products amid COVID-19 fears, and Mintel predicts a continued focus on ingredients and products that help consumers relax and cope with stress and anxiety.

What’s next

Wellbeing takes on new meaning: Holistic health is no longer just about the whole human, or even the whole human community, but the whole human biosphere.

Wellbeing + technology: Connection through social media has been a lifeline for consumers both physically and mentally, and that reliance won’t fade away once in-person engagement resumes. While consumers are more open to tech monitoring, there’s still much to be done to ease consumer privacy concerns.

Mental health a priority: Consumers are showcasing a raw and personal side of their identity, and as life returns to normal, mental health priorities will be top of mind.

Experiences

Seeking and discovering stimulation.

Mintel’s predictions

  • Experiences will go from being exclusive to inclusive as technology enables anyone to view a live concert from their phones.
  • Education will become a social experience, especially as consumers embrace and learn new skills in the kitchen.
  • eSports will be adopted among mainstream consumers.
  • Being bored will take on new meaning as consumers seek to find ways to appreciate and accept what it means to have nothing to do.
  • Collective experiences will take on new meaning.

What’s shifted

With people all across the world living in lockdown, they have been forced to appreciate this new state of slowness. Heading into 2020, convenience and 24/7 on-demand services reigned supreme. We predicted in 2030 a greater importance placed on ‘shutting down’ for pleasure and an emphasis on the benefits of the ‘nothing experience’.

COVID-19 has only accelerated those predictions to be realities of today and we’ve seen a notable shift from extroversion to introversion. While there’s value in the experience of shutting down, the drive for experiences remains and Mintel predicts that consumers will seek new ways to find fulfillment, placing an even greater emphasis on experiences over things, and the value of the human connection.

As physical and social distancing become the norm, the demand for brands to provide support through collective experiences will grow. Further ahead, whether at home or not, consumers will be driven to try out new, exciting experiences and will seek out the brands that bring them an opportunity to try them.

As a result, we will see a whole host of brands (even those outside the leisure industry) take advantage of the benefits of both online and offline channels to complement each other, which can offer consumers more options and richer experiences…..

Mintel: Read the full story HERE

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