Easy and Affordable – Consumer TrendSights Analysis, 2023
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Easy and Affordable – Consumer TrendSights Report Overview
The easy & affordable consumer trend remains the second most influential mega trend, maintaining stability in 2022 after gaining significance in Q1. It is driven by consumers’ desire to optimize time and money without compromising on quality. Consumers are actively looking for the most cost-effective and valuable purchasing options, especially in light of the cost-of-living crisis, which has caused consumers to reassess purchasing preferences as per more important demands.
Easy and Affordable TrendSights Framework
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The easy and affordable consumer trendsights research report will help to recognize core drivers of the market shifts and how these are likely to play out in the future from a consumer insight perspective. Furthermore, relevant case studies will allow readers to learn from and apply lessons discovered from key developments in the market. 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 | • Cost-of-Living Crisis
• Availability Of Solutions • Access to Information • Enhanced Personalization Facilitating Convenience |
Key Innovation Segments | • Innovations in Value for Money
• Innovations in Added Functionality of Products • Innovations in Next-Generation Shopping |
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Easy & Affordable – Key Drivers
The key trend drivers are the cost-of-living crisis and the availability of solutions. The other drivers that will influence the trend growth positively in the future are access to information and enhanced personalization facilitating convenience.
Ease of gratification—Consumers are faced with ample options to fulfill their desires for convenient and on-demand services, particularly through e-commerce.
Availability of solutions—There is a greater variety of choices on the market for consumers to ensure a product/service aligns with their time and money constraints, and it is easier for consumers to locate these, for example through online shopping or retailer comparison tools.
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Easy & Affordable – Key Innovations by Brands
The easy & affordable consumer trendsights analysis report covers innovations in value for money, added functionality of products, and next-generation shopping among others. Brands are maximizing savings with smart deals to entice consumers with value-oriented offers. Products that offer multiple benefits in one, especially with added functional ingredients, equate to good value for consumers. Furthermore, retail innovation makes the user experience more convenient and hassle-free. A few of the leading innovations by brands include Mashgin self-checkouts, Co-op pop-up store, Woolworths Online Storefront, Boots value packs, and Miniso Double Effect blotting paper among others.
Brand innovations in value for money: Boots delivers value for money through its value packs and bundles. These packs include a variety of products across health, beauty, vitamins, and baby essentials. By offering supersize packs, Boots ensures that customers can enjoy their items for longer periods, maximizing cost efficiency. Emphasizing affordability, Boots’ value packs and bundles cater to those seeking high-quality products without the hefty price tag.
Leading Brands Leveraging Easy & Affordable TrendSight
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Easy & Affordable – Relevance Across Key Industries
The key sectors in the easy and affordable are packaged food, pet products, babies and children’s products, household care, personal care, alcoholic drinks, and non-alcoholic drinks among others.
Relevance in Packaged Food: Amid economic uncertainty, consumers are increasingly prioritizing value-for-money in the packaged food sector. High-quality products and ingredients are essential across all categories, with dairy and bakery, cereals, and morning goods being particularly significant. Brands can capitalize on this trend by emphasizing ingredient quality and highlighting the value of their offerings in terms of both taste and nutrition. At the same time, providing affordable options that cater to cost-conscious consumers is crucial, especially in popular categories like dairy and savory snacks. By striking a balance between quality and affordability, brands can appeal to a broad range of consumers seeking value for money in their packaged food choices.
Easy & Affordable TrendSight Lifecycle
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Key Highlights
- In 2023, the Easy & Affordable trend is mainly driven by macroeconomic uncertainty and the cost-of-living crisis, as consumers are forced to put affordability at the forefront of their purchasing decisions, to decide how they can best achieve value for money.
- Other core drivers include the accessibility of information and solutions to provide consumers with the easiest option to find low prices, the ease of gratification with the rise of e-commerce, and innovation from brands to cater to these needs.
Reasons to Buy
- Consumer insight-focused analysis of the Easy & Affordable mega-trend in the consumer sector and what it means for operators as well as the market as a whole.
- Learn about core drivers of the market shifts and how these are likely to play out in the future from a consumer insight perspective.
- Relevant case studies will allow readers to learn from and apply lessons discovered from key developments in the market.
Omo Para
McDonalds
Abbot
Miniso
Ka
Mashgin
Co-op
Woolworths
Mcaffeine
Carnation
Isey
Haringtons
Wattie's
L'Oreal
Lab Weston
Wasabi
Table of Contents
Frequently asked questions
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What are the key easy & affordable trend drivers?
The key trend drivers impacting easy & affordable across the consumer and innovation landscape are the cost-of-living crisis, availability of solutions, access to information, and enhanced personalization facilitating convenience.
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Which are the key sectors relevant to the easy & affordable trend?
The easy & affordable trend has high relevance in packaged food products, pet products, babies and children’s products, household care, personal care, alcoholic drinks, and non-alcoholic drinks among others.
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What are the key innovation segments in easy & affordable trends?
The easy & affordable consumer trendSights analysis report covers innovations in value for money, added functionality of products, and next-generation shopping among others.
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