Euromonitor International’s 2019 Megatrends report focused on eight trends that will have significant impact on a wide range of industries. Below we will drill down on our top 3 picks and provide examples of products or services that are on target with these trends.
Healthy Living
The study reports that consumers are demonstrating a more holistic approach to wellness, encompassing physical, spiritual and mental wellbeing. Saje Natural Wellness offers consumers a variety of essential oils and natural products for purchase online and in-store. The company also demonstrates their commitment to helping customers in their quest for wellness via their podcast, titled Well Now, which features conversations with doctors, wellness experts, and healers of all kinds geared towards helping customers achieve their best personal wellness.
Pulp & Press Juices has made its way into many grocery retailers across Ontario and British Columbia over the past four years. The company markets their cleansing and detox juice packages as a way for people to take better control of their health and well-being to feel their best.
Experience More
Euromonitor International reported a shift in behavioural patterns from possessions to experiences, particularly among millennials.
Escape Rooms are rapidly growing in popularity in Canada and the US. Consumers pay to participate in real-life adventure games in which players solve a series of puzzles using clues and strategy. Players pay roughly $24-40 per game to share in this experience with colleagues and friends.
Perfect Day Experiences, a Vancouver-based company, offers over 500 different experiences that people can purchase as gifts across Canada. Segway tours, stunt driving, flight simulators, cocktail making, and tree trek adventures are a few of the many experiences available on their website.
Ethical Living
Ethical and moral values are becoming increasingly integrated into consumer’s everyday lives and corporate strategies.
Iris Skateboard, based in California, has made a business out of building furniture out of discarded skateboards. Their furniture is built using the wood from old skateboards, which would normally go to the landfill for funky and eco-friendly products.
Starbucks continues to focus on their commitment to being socially responsible. The company proudly posts its mission statement in messaging – and, all over the walls of their stores.
Source: Euromonitor Megatrends Report, 2019
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