What to Expect from Consumers in 2014?
As 2014 begins, Mintel’s Consumer Trends Analysts Jennifer Zegler and Stacy Glasgow outline the four trends set to impact the American consumer market, examining the areas of commercial opportunity for brands — and what consumers will be buying this year. Here is an excerpt from their report:
Internationalism on the Agenda: In 2013, the world’s attention was rapt with the arrival of the UK’s royal baby. Later in the year, people around the world mourned the passing of former South African President Nelson Mandela. Whether to share joy or to remember, the global community has become close-knit. Connections are heightened by the immediacy provided by technology; each day, people are using social media and other innovations to eliminate the barriers and the boundaries formerly presented by geography. This interest in "internationalism" is already influencing shopping habits, as Mintel research finds that 67 percent of legal U.S. spirits drinkers are interested in trying alcoholic drinks from other countries.
People also are touring the world one meal at a time through more adventurous cuisine choices. Today, 62 percent of adults who have eaten ethnic food say they are confident in their ability to prepare ethnic and international food, and some 66 percent of ethnic food eaters who are parents say their children enjoy eating ethnic or international food. In 2014, we will see new cuisine trends, including Brazilian and Russian food given the connection to sporting events, but also a rise in popularity of emerging fare such as Vietnamese, Argentinian, or African.
As we head into 2014, we’re already seeing brands approach consumers with this international mentality, including mobile service providers competing for globe-trotting consumers.
Life, Streamlined: In a time when smart watches and Google Glass mean people can access apps without so much as touching a smartphone, the demand for instant gratification will continue to drive consumers in 2014. We see a perpetuated cycle where consumers want faster solutions to their problems, resulting in technology that answers those problems — only to lead to a demand for even faster solutions. In the coming year, wearable and more accessible technology will provide consumers with solutions to problems they weren’t even aware of having.
In general, consumers and their devices are becoming easier to find — and ping solutions to — as geolocation is brought indoors and given more granularity. Ultimately, this will cut down on the need for people to find products, information and services; instead, the roles are being reversed and the products, information and services find people – allowing them to quickly move on with their more efficient and improved lives. The “Internet of Things” will begin to truly connect our bodies, our devices, and our homes.
In 2014, approaches to convenience in retail will also be taken to the next level. Concepts like virtual shopping walls, mobile in-store checkouts, sizing technology, smart fridges and mobile wallets will be overshadowed by retailers who are beginning to promise one-hour deliveries, and — on a more extreme scale — discussion around delivery via drones could herald an era where next-day delivery becomes a concept of yesteryear.
Drawing the Digital Line: In reaction to concerns resulting from hyper-connectivity, in 2014 consumers will become exceedingly cognizant of the need to unplug, to simplify and to reconnect with the world around them. As America sees increased discussion around the value and usability of wearable and ubiquitous technology, we will in tandem see increased discussion around data privacy. And as digitalization becomes even more pervasive, it will foster a growing culture of impatience, over-sharing, and of privacy concerns — leading to a demand for more of a balance between living online and "real world" experiences.
Privacy concerns are paramount for all consumers. Today, 44 percent of U.S. consumers are concerned that social networking sites display too much information about them, and 81 percent are wary of using their mobile phone as a payment device because they worry about the security of their personal information. Because many consumers have seen ramifications from over-sharing (whether firsthand or through the media), they will at last feel the demand to take measures that will protect their information.
Investing in Prevention: Skittish Americans have adopted an ongoing emotional state of "prepar-nation", in which they are focused on anticipating and preparing for both the major and the minor events that could interrupt their status quo. Most people have not forgotten the 2008 global financial crisis, causing them to be more mindful of the state of their finances with 72 percent of U.S. adults claiming "I don’t like the idea of being in debt". Likewise, half of adults say making sure they do not fall behind on bills or other financial commitments is very important to them in the coming year. Indeed, the country’s debt ceiling crisis in October 2013, which caused a 16-day partial government shutdown, reminded Americans of the frailty of the economy. In 2014, across all industries, Americans are open to investing in solutions that can help them be more responsible in the present, while also preparing for any less-than-desirable scenarios that could arise down the road.
Find out more about Mintel’s 2014 U.S. consumer trends and download a free copy of the trends in full by visiting www.mintel.com/us2014.
Related Articles:
What Will Consumer Goods Look Like in 2014?
Five Social Media Trends Happening Right Now
Top 10 Food Trend Predictions for 2014
Five Trends to Follow in Retail
Internationalism on the Agenda: In 2013, the world’s attention was rapt with the arrival of the UK’s royal baby. Later in the year, people around the world mourned the passing of former South African President Nelson Mandela. Whether to share joy or to remember, the global community has become close-knit. Connections are heightened by the immediacy provided by technology; each day, people are using social media and other innovations to eliminate the barriers and the boundaries formerly presented by geography. This interest in "internationalism" is already influencing shopping habits, as Mintel research finds that 67 percent of legal U.S. spirits drinkers are interested in trying alcoholic drinks from other countries.
People also are touring the world one meal at a time through more adventurous cuisine choices. Today, 62 percent of adults who have eaten ethnic food say they are confident in their ability to prepare ethnic and international food, and some 66 percent of ethnic food eaters who are parents say their children enjoy eating ethnic or international food. In 2014, we will see new cuisine trends, including Brazilian and Russian food given the connection to sporting events, but also a rise in popularity of emerging fare such as Vietnamese, Argentinian, or African.
As we head into 2014, we’re already seeing brands approach consumers with this international mentality, including mobile service providers competing for globe-trotting consumers.
Life, Streamlined: In a time when smart watches and Google Glass mean people can access apps without so much as touching a smartphone, the demand for instant gratification will continue to drive consumers in 2014. We see a perpetuated cycle where consumers want faster solutions to their problems, resulting in technology that answers those problems — only to lead to a demand for even faster solutions. In the coming year, wearable and more accessible technology will provide consumers with solutions to problems they weren’t even aware of having.
In general, consumers and their devices are becoming easier to find — and ping solutions to — as geolocation is brought indoors and given more granularity. Ultimately, this will cut down on the need for people to find products, information and services; instead, the roles are being reversed and the products, information and services find people – allowing them to quickly move on with their more efficient and improved lives. The “Internet of Things” will begin to truly connect our bodies, our devices, and our homes.
In 2014, approaches to convenience in retail will also be taken to the next level. Concepts like virtual shopping walls, mobile in-store checkouts, sizing technology, smart fridges and mobile wallets will be overshadowed by retailers who are beginning to promise one-hour deliveries, and — on a more extreme scale — discussion around delivery via drones could herald an era where next-day delivery becomes a concept of yesteryear.
Drawing the Digital Line: In reaction to concerns resulting from hyper-connectivity, in 2014 consumers will become exceedingly cognizant of the need to unplug, to simplify and to reconnect with the world around them. As America sees increased discussion around the value and usability of wearable and ubiquitous technology, we will in tandem see increased discussion around data privacy. And as digitalization becomes even more pervasive, it will foster a growing culture of impatience, over-sharing, and of privacy concerns — leading to a demand for more of a balance between living online and "real world" experiences.
Privacy concerns are paramount for all consumers. Today, 44 percent of U.S. consumers are concerned that social networking sites display too much information about them, and 81 percent are wary of using their mobile phone as a payment device because they worry about the security of their personal information. Because many consumers have seen ramifications from over-sharing (whether firsthand or through the media), they will at last feel the demand to take measures that will protect their information.
Investing in Prevention: Skittish Americans have adopted an ongoing emotional state of "prepar-nation", in which they are focused on anticipating and preparing for both the major and the minor events that could interrupt their status quo. Most people have not forgotten the 2008 global financial crisis, causing them to be more mindful of the state of their finances with 72 percent of U.S. adults claiming "I don’t like the idea of being in debt". Likewise, half of adults say making sure they do not fall behind on bills or other financial commitments is very important to them in the coming year. Indeed, the country’s debt ceiling crisis in October 2013, which caused a 16-day partial government shutdown, reminded Americans of the frailty of the economy. In 2014, across all industries, Americans are open to investing in solutions that can help them be more responsible in the present, while also preparing for any less-than-desirable scenarios that could arise down the road.
Find out more about Mintel’s 2014 U.S. consumer trends and download a free copy of the trends in full by visiting www.mintel.com/us2014.
Related Articles:
What Will Consumer Goods Look Like in 2014?
Five Social Media Trends Happening Right Now
Top 10 Food Trend Predictions for 2014
Five Trends to Follow in Retail