Redefined Households – Consumer TrendSights Analysis, 2023
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Redefined Households – Consumer TrendSights Report Overview
Redefined Households is a trend in GlobalData’s TrendSights framework, under the demographics mega-trends.
Household dynamics continue to diversify and change for consumers with external pressures and internal preferences. The diverse nature of households is becoming more common around the globe as inhibitors such as traditional stereotypes and regional barriers are being broken down. This has led to more “global” consumers with greater commonalities than may have been the case historically.
Redefined Households Consumer TrendSights
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The “Redefined Households” consumer trendsights research report explores the consumers’ focus on provenance and its impact on various industries. The report also analyses the demographics mega-trend that drives and supports the ‘redefined households’ trend.
Key Trend Drivers | · Aging populations
· The blurring of traditional life stages · Migrating influences · Economic barriers |
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Redefined Households - Key Trend Drivers
The redefined household trend is being impacted by a range of drivers such as a rise in the aging population, the blurring of traditional life stages, population migration, economic barriers, and uncertainties owing to the COVID-19 pandemic.
For instance, many consumers are choosing more fluid life stages with many getting married and having children later, preferring to prioritize education, career, or other experiences. Likewise, macroeconomic, and personal financial issues may undermine consumers’ desire, ambition, or ability to aim for or complete certain life stages such as university, marriage, or home ownership.
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Redefined Households - Innovations by Brands
Wellness sees itself paired well with both a multipack and single-serve products for redefined households. They are also delving into Long-lasting products for single households.
Alt Co.—cold coffee oat drink —UK: The cold oat coffee drink from Alt Co. in India aligns well with the redefined households and the moderation trend. Delivered in a single-serving plastic bottle, this product caters to single-household consumers who would not require larger servings or a multipack.
Twisst –Passion Fruit Mojito—UAE: Twisst’s new passion fruit mocktail aligns with the single-person households’ trend by utilizing a long expiration date. The company’s unique “cartocan” packaging format is made from carton board to be filled aseptically with liquid and has a shelf life of 12 months unchilled.
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Redefined Households - Outlook
Population growth, inflation, and globalization are the key factors that could drive the growth of the redefined households trend in the coming years.
The future of redefined households and how people live is closely tied up to cost-of-living changes. For instance, increasing inflation sees a variety of pressures across all household sizes with single and two-person households looking to take actions such as forming multi-generational houses by moving back in with parents and grandparents. Changes within households have given rise to some new markets as well. For instance, household, personal care, and pet products continue to build as emerging markets and new household types give them more of a foothold within the trend.
Scope
• Inflation pressure will continue to drive consumers into household situations they may not have necessarily chosen for themselves creating new households
• Population growth continues to slow globally creating more and more aging populations around the world
• Around the globe are found all types of household arrangement; however, depending on the region the proportion of one to another will greatly change.
Reasons to Buy
This report will help:
- Analyze emerging opportunities and threats in the fast-moving consumer goods market and gain insight into potential future consumer behavior.
- Identify new and emerging concepts, products, and ideas on offer in retail, foodservice, online spaces, and beyond.
- Understand how new concepts and ideas fit into or challenge current consumer trends.
- Access valuable strategic take-outs to help direct future decision-making and inform new product development.
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President
Twisst
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Table of Contents
Frequently asked questions
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Which mega-trend is redefined households part of?
The trend is a part of the demographics mega-trend.
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What are the key redefined households trend drivers?
The redefined household trend is being impacted by a range of drivers such as a rise in the aging population, the blurring of traditional life stages, population migration, economic barriers, and uncertainties owing to the COVID-19 pandemic.
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What are the key factors that will impact the future of the redefined households trend?
Population growth, inflation, and globalization are the key factors that could drive the growth of the redefined households trend in the coming years.
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