Digitalization – MegaTrend Overview and TrendSights Analysis, 2023
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Digitalization – Consumer TrendSights Report Overview
Digital technologies are increasingly enhancing brand operations and providing benefits for consumers in the FMCG space. The benefits include providing increased efficiency as well as improved connectivity across all product categories. The innovations are also increasing convenience for consumers, saving them time, informing shopping choices, and enabling self-expression through social media and products that align with individual values.
TrendSights Framework: Digitalization
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The “Digitalization” consumer trendsights research report assesses future developments and technological impacts of the digitalization mega-trend on brands and consumers. The report also offers the trend lifecycles that represent the period from which a consumer trend first influences the consumer landscape to its eventual saturation and decline.
Key Trend Drivers | • Convenience
• Pursuit of Optimized Productivity |
Key Brands | • Nannit
• Garmin • Cleveron • Intersport • L’Occitane • Chipotle |
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Digitalization – Key Drivers
The key trend drivers for the digitalization megatrend are the desire to stay informed, personalization demands, convenience, the pursuit of optimized productivity, and new business models.
- Convenience- Consumers are increasingly enticed by the convenience of online food and grocery delivery services. Such services allow the delivery of full grocery shopping with the click of a button, and quick delivery from food service outlets as compared to physical shopping.
- Pursuit of optimized productivity- Digital technology enables companies to optimize productivity through more efficient workflows. Companies can streamline processes, automate tasks, and improve operational efficiency. This increases the incentive to innovate further with new technologies.
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Digitalization – Innovations by Brands
Brands are making it a necessity to incorporate AI and AR into value chains, to reap future benefits including enhanced immersive shopping experiences and improved brand loyalty. The key brands leveraging the digitalization megatrend are Nannit, Garmin, Cleveron, Intersport, L’Occitane, and Chipotle among others.
Chipotle- robot assistant, US: Chipotle is integrating advanced robotics to boost efficiency in food preparation. A collaborative robot is being tested to work alongside human employees, assisting in preparing bowls and salads. The aim is to improve worker efficiency and capacity for digital orders. Food service operators can look to employ similar robotics to boost efficiency, while on-the-go consumers can benefit from faster service.
Leading Brands Leveraging Digitalization MegaTrend
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Digitalization – Relevance Across Key Industries
The key industries following digitalization practices are the packaged food and beverages industry, the personal care industry, the household care industry, babies’ and children’s products, pet products, tobacco products, food service, and the retail sector among others. For instance, in the food service sector, online food delivery remains popular, while robotics in food preparation provides an opportunity for improved efficiency. Globally, many consumers order freshly cooked food online, at least once a week, underscoring the strong dependence on such app-enabled services to feed the global consumer. Further, just over one in 10 global consumers have been using food waste apps or subscribing to meal kit delivery services to minimize food waste in the last three months, which is a reasonable proportion considering these services are still in the early stages of adoption.
Digitalization MegaTrend Lifecycle
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Digitalization Trendsights – Importance and Future Outlook
Digitalization is one of the mega-trend, which form the basis of consumer behavior. Evolution in next-generation shopping is spurring the rise in immersive shopping experiences. Recently, through artificial intelligence (AI) and augmented reality (AR) consumers’ interest has soared in immersive shopping experiences. In addition, consumers are increasingly researching ingredients, brand history, and product benefits digitally before purchasing. Thus, digitalization will play an important role in shaping the markets in the coming years.
The continued development of personal AR and VR devices will eventually result in price drops, increasing access to general populations in many countries, and leading to the development of profoundly immersive shopping experiences that could become mainstream. Consumers may become strongly dependent on smart home technology. Smart devices and IoT sensors are already impacting routines within the home. Developing technologies such as Neuralink could allow consumers to control digital devices with the mind. This may lead to digitalization in everyday tasks becoming a necessity.
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Scope
• Health concerns and online scam fear is boosting demand for improvements in informed shopping tools.
• Gen Z and Millennials are driving digitalization, with the Middle East & Africa and Central & South America being the key regions, given these regions have younger demographics.
• Millennials are the most ingredient-conscious consumer group, while Gen Z are most influenced by social media recommendations.
Key Highlights
- Health concerns and online scam fear are boosting demand for improvements in informed shopping tools.
- Gen Z and Millennials are driving digitalization, with the Middle East & Africa, and Central & South America being the key regions, given these regions have younger demographics.
- Millennials are the most ingredient-conscious consumer group, while Gen Z is most influenced by social media recommendations.
- Consumers’ online activities have increased significantly during the COVID-19 pandemic. Being online or using online tools for shopping and communication has become essential for many consumers.
- The influence of Digitalization on young and mature consumers shows the most significant difference. Indeed, some young consumers were born in the digital era, when the speed of technological development was gaining momentum.
Reasons to Buy
- Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is impacting the industry.
- Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
- Access valuable strategic take-outs to help direct future decision-making and inform new product development.
Litter-robot
Garmin
Cleveron
Intersport
L'Occitane
Chipotle
Iceland
Graze
The Ambush
Coca-Cola
Perfect Corp
L'Oreal
Perso
Nourished
FreeStyle
Dr.Harris
Doritos
Tesco
Rockit
Pietro Coricelli
e.l.f Cosmetics
HungerStation
Table of Contents
Frequently asked questions
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Which are the key trend drivers influencing the Digitalization megatrend?
The key trend drivers for the Digitalization mega trend are the desire to stay informed, personalization demands, convenience, pursuit of optimized productivity, and new business models.
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How do digital technologies benefit consumers?
Digital technologies are increasingly enhancing brand operations and providing benefits for consumers in the FMCG space such as providing increased efficiency and improved connectivity across all product categories.
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Which are some of the leading industries following practices supporting the Digitalization megatrend?
The key industries following digitalization practices are the packaged food and beverages industry, the personal care industry, the household care industry, babies’ and children’s products, pet products, tobacco products, food service, and the retail sector.
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