Euromonitor themes transforming consumer markets

This piece sets out six themes that Euromonitor International suggest will shape consumer markets in a post-COVID world.  At least for the foreseeable future the study argues that consumers will behave differently, changing their daily routines and lifestyles, with social distancing becoming engrained.  Economic challenges are both real as unemployment increases but reinforced by increasingly anxious consumers. 

The six themes proposed are; ‘From sustainability to purpose’, ‘Hometainment and the new experiential consumer’, ‘Where and how consumers shop’, ‘Wellness redefined’, ‘The new normal, what’s here to stay?’ and ‘Innovation and the new core’. 

At the heart of many of the themes is the idea that consumers will be more risk averse in the future, will be less inclined to purchase non-essential goods and services and will continue to spend more time in and around their own home. 

The report has a couple of slides on each ‘theme’ but by and large does not focus on travel and tourism, it is more about ‘consumables’.  That said it is noted that those wishing to attract consumers to venues where they mingle with lots of others will have to work harder to justify to consumers why they should still visit.   

It is also argued that ‘health and wellness’ will be a key driver of recovery in the travel sector and that restaurants may need to diversify into providing groceries and to assist with home meal preparation.