2020 to be “the year of renewal”
Today, Zenith UK released its consumer trend report for 2020, The View, which predicts 2020 will be the “year of renewal”, a year of renewed optimism where consumers will be re-focusing their time and attention around simplified, realistic and attainable goals and interests. The report reflects on 2019 and shares predictions for the top consumer trends in the coming year, with a special focus every year on three cultural trends, which for 2020 they are: Renewed Passions, Easy Living and Media Gets Real.
Below is a summary of key trends and top findings, pulled from The View, for easy reading. You can read the full report here. Discussions on these trends are also available via the Zenith UK podcast which is available to listen to here.
The podcast is hosted by Zenith UK’s Katharine Hansford, Strategic Innovation Director. Experts featured in the podcasts include Amy Williams, CEO and Founder of Good-Loop and IAB’s Tom Stevens, Head of Marketing, as well as Zenith UK’s Gabriella Corper, Insights Manager and Richard Clay, Group Strategy Director.
Renewed Passions: Consumers Spending More Quality Time With Things That Matter
Consumers optimizing their indulgences (less drinking, finding more sustainable products), working harder to take longer holiday breaks and escape from professional pressure, and a renewed priority on mental health and self-care.
- Indulgence optimizing: With more and more people embracing sustainability, it’s projected that the second-hand clothing market is predicted to be 1.5x bigger than fast fashion in 2028.
- Escapism through social activism: Younger demographics are looking to escape the strains of everyday life, and they’re increasingly looking for more fulfilling and meaningful ways of doing this. 68% of British Gen Z’ers say completing a challenge for a good cause brings them joy.
- Self-care is everywhere: mental health awareness leading to a boom in the health and wellness industry and consumers are making healthier choices when it comes to food, exercise, and medication. By 2020, we’ll see the wellness industry in the UK reach £22.8B.
Easy Living: People Looking For Guidance, Streamlined Choices
With a growing array of choices today, consumers are gravitating toward streamlined services, seeking guidance in decision-making and taking recommendations from “the stars.”
- Simplification of choice: In 2020, we’ll see peak streamlining with more people investing in subscription boxes and services—turning to curated options to simplify decision-making and maximise convenience. 46% of online shoppers have failed to complete a purchase online because there were too many options to choose from.
- Attainable sustainable: consumers today want to be accountable and prefer changes in their lives be little and often vs. in dramatic shifts. 54% of people feel living healthily and sustainably is a major personal priority but only 6% are actually doing so.
- Look to the stars: consumers finding newfound trust in astrology and we’re seeing brands bringing astrology-related propositions to market. 31% of UK adults think there may be some truth to astrology and star signs and searches for “birth chart” have increased 80% since 2014.
Media Gets Real: Consumers Want Authenticity, Safety and Seamless Connectivity
The rise of devices, 5G connectivity and the fact that everyone now has a platform to share their stories or their products, people are seeking out authentic and meaningful experiences.
- Back to reality: consumers want to see an increase in “authentic” content – particularly that which comes from influencers. Only 22% believe that social media celebrities portray their lives honestly and 61% of consumers don’t think brands are transparent about how they actually use influencers for branding purposes.
- Digital world needs to get its act together: Growing concerns about the impact of devices, social media and services on individuals’ well-being is on the rise, with 80% of children not feeling safe on social media.
- Fluid access, thanks to 5G: Buying has become more reliant on seamless connectivity and we’re seeing more and more platforms become directly shoppable. 30% of GB consumers say they’re interested in TV programmes that allow them to directly buy products they see.
Leonie Galliford, Head of Insight at Zenith UK explains: “Pre-2020 people have experienced years of instability and uncertainty both in their own finances, and politically, as well as seeing massive shifts in ways they can communicate, consume media, and even shop. This in turn has made planning their lives more complicated. 2020 gives the opportunity for renewed optimism, and we predict this year will see consumers shift to re-focus their time and interests around more simplified, attainable and self-focussed goals, rejecting inauthentic, negative, or complicated life choices.”
The View was created by Zenith Insights, Zenith’s dynamic team of Insight generalists and specialists. The team comprises eight people who work across the range of Zenith clients, providing in-depth analysis of secondary research, as well as producing their own award winning work, incorporating quantitative, qualitative and behavioural insights.
The report is a combination of Zenith insight, researcher interpretation, and recent research pulled from a variety of sources including: Mintel, Future Foundation, Canvas 8, IPA, TGI, Zenith Forecasts, Gfk.