Consumer Trends of 2020 and the Effects of COVID-19
Euromonitor International revealed the Top 10 Consumer Trends for 2020 in early January, but as we all know the world is now quite different, so have those trends changed? Yes, in some ways they have. The trends they identified are still in play, half of them in fact have been accelerated by the pandemic, while others will just be delayed in their development. Let’s review those trends and how Euromonitor sees the impact of COVID-19 on them currently, any shifts in trend focuses of consumers and anticipated reactions post-pandemic.
Trends that have been accelerated by COVID-19 and are expected to continue to grow:
Trends that have been accelerated by COVID-19 but expected to return to normal post-pandemic:
Trends that have had the Consumer focus changed by COVID-19 but expected to continue:
Trends that have been decelerated or even paused by COVID-19 but expected to return to normal post-pandemic:
COVID-19 has, of course, changed the way consumers’ think and feel, now it’s up to brands and businesses to take consumers’ concerns and desires into consideration when reacting and providing their products and services.
For more on some brands that have already addressed these trends, before and after the world changing pandemic, see the full initial trend report from Euromonitor here, and their webinar on impacts COVID-19 has made on them here.
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