FMCG Gurus – Top Ten Trends for 2024 – Global Report
This report provides an in-depth analysis of the top ten trends that will govern consumer attitudes and behaviors across the food, drink, and supplement industries over the next twelve months. It identifies and explores the most important and influential factors driving purchasing habits, what priorities consumers have, and how brands can help maximize perceptions of value and transparency.
This report will look at the following areas:
- Price Sensitivity: The extent to which price inflation is impacting financial confidence and how this is manifesting in shopper behavior. This covers how consumers are making changes to their shopping habits and trying to save money, whilst trying to seek out small indulgences for reward and escapism purposes and worry about the impact of rising prices on health.
- Attitudes and Aspects of Skincare: Evolving attitudes to wellness in a post-pandemic society, with the focus moving away from health at all costs to considered health due to financial constraints. The report focuses on the extent to which people are taking a proactive approach to health, how they evaluate their well-being, what are the key health goals for the year, and how wellness brands can maximize perceptions of value.
- Sustainability: Levels of concern about the environment, and the extent that these worries are influencing purchasing and dietary habits at a time when spending is more considered. The report looks at the importance of resourcefulness along the supply chain and addresses key issues such as food waste, whilst positioning products in a way that are win-win for the individual and the planet.
How This Report Can Benefit the Industry:
- Strategic Planning: Develop a clear and concise strategy in an era of uncertainty that factors in macroeconomic uncertainty and consumer attitudes and behavior that are prone to change. Establish key messages and objectives that can be incorporated into the whole of the supply chain that are responsive to consumer priorities.
- Effective Marketing and Sales Growth: Recognize what product claims and attributes are most likely to capture consumer attention and shape perceptions of value. Determine what the key messages are that should be communicated to consumers to help drive sales and reduce price sensitivity. Help maintain and grow brand loyalty by helping position products as essential, effective, and relevant.
- New Product Development: Create stand-out appeal in a crowded market and minimize the risk of failure. Evaluate what product factors are most important to consumers and prompt willingness to pay a premium, and how to develop products that successfully align with key need states relating to health, indulgence, convenience, and sustainability.
Files included in this report: