DNA, AR Shape Top 10 Global Consumer Trends for 2018

Euromonitor International has revealed the top 10 global consumer trends for 2018, and according to the market research firm, people’s growing curiosity about their genetic make-up and a rising interest in personalized health and beauty are fuelling a global market expected to soar by 2022.

The top ten global consumer trends for 2018 are:

Clean Lifers
The Borrowers
Call Out Culture
It’s in the DNA – I’m so Special
Adaptive Entrepreneurs
View in My Roomers
Sleuthy Shoppers
Co-Living
I-Designers
The Survivors
 
A new wave of companies aims to provide consumers with genetic findings related to their general health, fitness and nutrition, with the market growth being global and competition in the largely unregulated Chinese market particularly intense, said Euromonitor.

“The consumer market still faces hurdles, such as country-specific regulations. Companies will need to be clear and upfront with consumers about the limitations of findings, or risk losing their trust” noted report author Alison Angus, Euromonitor International’s Head of Lifestyles. “However, things are improving on the regulatory front and with the market continuing to evolve, it is likely that further innovative start-ups will invest in new technologies.” 

With Augmented Reality (AR) having a wide range of applications in various industries, the potential in the mainstream consumer space is vast, bringing the benefits of in-store shopping into the home, said Euromonitor, which forecasts that global internet retailing value sales will increase by a further 3% in 2018. 

“Augmented Reality improves the consumer experience, providing a more lifelike view of the items and facilitates operational efficiencies for businesses by potentially reducing return rates” comments Angus. “Online captures consumers’ interest with the convenience of the hassle-free, anytime, anywhere shopping they crave. The ability to see and touch products before buying is a bonus. This is  in  part why the in-store shopping experience remains appealing, and in 2017, 88 percent of global sales in value terms were still made in-store.”
 
“In 2018 consumer expenditure is expected to grow at its strongest rate since 2011. Overall 2018 will see consumers continuing to question their values, priorities and purchasing decisions; deepening their engagement in the brands and issues that matter to them,” concludes Angus.
 
According to Euromonitor, people’s growing curiosity about their genetic make-up and a rising interest in personalized health and beauty are fueling demand for home DNA kits. Target consumers range from the “worried well” and those curious about their origins to hard-core fitness and nutrition fanatics. Companies such as 23andMe, DNAFit and AncestryDNA map genetic code via simple blood or saliva samples and explain what it all means.
 
A new wave of companies aims to provide “I’m So Special” consumers with genetic findings related to their general health, fitness and nutrition. The likes of FitnessGenes, DNAFit, Orig3n and Nutrigenomix identify genes that effect muscle mass, endurance, fat burning ability and metabolism.
 
Beauty is another area in which genomics has made an entrance, according to Euromitor. UK company Geneu, which believes that skin aging is 60% in influenced by genes, offers customers a same-day DNA testing service from Selfridges in London. It is then issues them with a personalized prescription for anti-ageing serums formulated based on their DNA and lifestyle questionnaire.