'Delightful distractions' and 'value hackers' amongst top 2024 consumer trends: report
Euromonitor International said AI and sustainability initiatives will continue to trend next year.
Environmental concerns and AI initiatives will continue to prevail in consumers' behaviour when buying products or supporting brands by 2024, a report from Euromonitor showed.
In the report, Euromonitor mentioned some new trends such as delightful distractions, which means consumers will seek an escape from stress and anxiety.
"Some 29% of consumers would be comfortable with brands tracking their emotions and personalising experiences to their moods," read the report.
Another trend is Progressively Polarised where political and social issues are at the core of personal identities. These belief systems will influence perspectives, values and attitudes.
"Consumers will not refrain from expressing their convictions. Social responsibility, political affiliation and sustainability initiatives will motivate spending," read the report.
Next trend is value hackers where the cost-of-living crisis will continue to influence consumers' buying behaviour.
Four in 10 consumers planned to save more money in 2023. They are employing increasingly clever strategies to get the very best deals.
Wellness Pragmatists is the next trend as consumers are seeking fast and effective solutions to improve both their physical and mental wellbeing.
AI will continue to evolve next year, which will influence consumers' decisions and reshape their expectations of brand engagement.
"These platforms will become increasingly integrated into consumers' daily lives. Businesses should utilise generative AI to enhance personalisation and improve the overall customer experience," read the statement.
"Greenwashed Out," meanwhile, will continue to prevail as consumers demand that companies and governments are fully utilising available resources to create a meaningful impact. They also want organisations to step up and show proof of their eco pledges.