Megatrends: Convenience - Impact on Consumer Goods and Services Categories

As the impacts of technology advance and some consumer habits that started in 2020-2021 solidify, new industries feel the impact of greater demand for Convenience. This briefing will analyse how this megatrend has shaped to different consumer industries, as well as services, showing that Convenience goes well beyond fast delivery, manifesting through a strong consumer desire for simpler, faster, effortless and frictionless solutions.

Key Findings

In a moment of financial constraints, consumers search for benefits through convenience

As the world goes through uncertainties, interest rates are on the rise and employment slows down, consumers become more cautious in their expenditure and look for products and services that can offer multiple benefits, including intangible ones, connecting to other megatrends, such as Pursuit of Value.

Blurred categories favour consumer shopping behaviour

In the FMCG landscape, every time, more products serve two or more purposes, with clear examples in the beauty and personal care industry, where skin care and colour cosmetics compete for consumers, while in food, more ready meals tend to be shelf stable and closer to natural food.

Service providers pressured to adapt to new technologies

While in the consumer foodservice industry the use of artificial intelligence to build menus and identify consumer preferences is on the rise, the consumer finance industry is heavily impacted by ultra-fast payments and all-in-one apps bringing more competition, but also opportunities to increase the number of banked people.

Food and drinks players trying to explore healthy claims through convenience

Usually perceived as unhealthy, convenient food has been going through rapid transformation as snacks are usually added with proteins, vitamins and other healthy inputs, and powder beverages are exploring the hydration and energy boosting space to sell to a new group of consumers.

Relatively behind other industries, travel takes steps to improve consumer experience

Fast passes and loyalty programmes have long been used by the travel industry. Recent initiatives that eliminate bureaucratic processes in airports and facilitate the travel experience have been tested by the industry, but a joint effort by different stakeholders will be necessary to increase travellers' experience globally.

The Megatrends: Convenience - Impact on Consumer Goods and Services Categories Megatrend briefing offers latest insights into long-term consumer-based trends impacting businesses globally. It highlights important shifts in consumer values and behaviour, how these are affecting the evolution of the trend and offers strategic analysis into the implications for companies across categories and geographies. It identifies where opportunities lie for business and showcases relevant product and service manifestations responding to the trend(s) and the changing consumer need.

Product coverage: Changing Values as a Megatrend Driver, Convenience, Digital Living, Diversity and Inclusion, Environmental Shifts and Pressures as a Megatrend Driver, Experience More, Personalisation, Population Change as a Megatrend Driver, Premiumisation, Pursuit of Value, Shifting Economic Power as a Megatrend Driver, Shifting Market Frontiers, Shopper Reinvented, Sustainable Living, Technology as a Megatrend Driver, Wellness.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

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• Get a detailed picture of the Megatrends market
• Pinpoint growth sectors and identify factors driving change
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• Use five-year forecasts to assess how the market is predicted to develop.