Dublin, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The "Megatrends: Convenience - Impact on Consumer Goods and Services Categories" report has been added to ResearchAndMarkets.com's offering.
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.
Company Coverage:
- BuzzBallz
- Cathay Pacific
- MTR
- Pop-Tarts Bites
- Suzuki Shuzoten
Key Topics Covered:
Introduction
- Megatrends: Convenience - Impact on Consumer Goods and Services Categories
- Leaders harness megatrends to disrupt a market
- Key findings
- The pillars of Convenience, explained
- Consumer view on convenience expands beyond traditional uses and applications
Convenience in beauty and personal care
- Product innovation in beauty and personal care focuses on on-the-go and multipurpose products
- Blurred lines between make-up and sunscreen support convenience products
- Colour cosmetics that go beyond beauty, adding nutrients to the skin, simplify steps
Convenience in beverages
- Convenience propels innovation in formats, flavours, benefits and cross-category partnerships
- Powder concentrates boom offering functionality, convenience and affordability
- US brand BuzzBallz mixes RTD convenience with unique flavours and higher ABV
Convenience in consumer finance
- Frictionless payments continue to drive convenience to retail and services
- Embedded cross-border payments reduce the need for currency exchange in Asia Pacific
- Digital payments bring convenience to traditional retail in Latin America
Convenience in consumer foodservice
- Convenience is the ultimate goal of foodservice, but the format is changing rapidly
- Suzuki Shuzoten uses AI to create sake that pairs with locally-caught fish to boost sales
- Ultrafast delivery becomes the foodservice and grocery industries standard
Convenience in food
- The food industry relies on snack attributes to change eating habits in a convenient way
- Tastybite brings convenience to ethnic Indian food with tasteful and affordable single-serve
- Pop-Tarts Bites reinvent themselves in convenient snack-bite portions
Convenience in travel
- Convenience is all about giving travellers more time to experience great things
- Seamless travel is powered by biometrics to cut queues at airport checkpoints
- Cathay Pacific and MTR's partnership make baggage drop easy with in-town check-in option
Implications for future growth
- Evolving consumer needs will demand fast adaptation of industry
- Leverage the power of megatrends to shape your strategy today
For more information about this report visit https://www.researchandmarkets.com/r/kaci5g
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