Consumer

WHAT'S NEXT?: Technology will become the new sales assistant, always on, always friendly, always delivering. Consumers will co-create and create products to their exact needs. Brands will have to focus on seizing mobile moments on apps that already have consumer's attention. Instantly explore below how lifestyles, buying behaviors and attitudes are changing and where you fall short in the battle to win consumers hearts and minds.

• [New] Marketing strategies and advertising mainly target younger age groups, even though the elderly will likely account for 86% of the growth in consumer spending by 2030.
• [New] World output could contract further if restrictions on economic activity extend to the third quarter of the year and if fiscal responses fail to support income and consumer spending.
• [New] In light of the higher consumer demand for advanced sensor-based vehicles, the North American market is expected to grow at a higher CAGR by 2023.
• [New] The autonomous vehicle services market is expected to grow from a mere $1.1 billion in 2019 to $202.5 billion in 2030 at a CAGR of 60.1%, facilitated by mutually beneficial business models across the entire mobility value chain.
• [New] The plans by Huawei come as it faces pressure on other parts of its business, with shipments in its core smartphone segment expected to decline this year for the first time as the coronavirus pandemic hits both global supply chains and consumer demand.
• [New] The autonomous vehicle services market is expected to grow from $1.1 billion in 2019 to $202.5 billion in 2030 at a CAGR of 60.1%, facilitated by mutually beneficial business models across the entire mobility value chain.
• [New] With many experts predicting that other states will pass similar legislation in the coming years, companies across the US that take proactive steps today to better protect consumer data will be best equipped for future regulations.
• [New] The Worldwide 3D Printing Market in Aerospace and Consumer Electronics is expected to grow at a CAGR of 28.2% during the period 2016-2022 to reach an aggregate of $11,140 million by 2022.
• The global mobility as a service (MaaS) is projected to witness an 11.9% CAGR during 2019-2024, offering ample opportunities for the players in EV battery swapping market.
• In addition to all values, there is a mounting evidence of sharp declines in tourism, supply chain disruptions, weak commodity demand, and falling consumer confidence.
• Rabobank expects consumer buying in China to normalize by the second half of 2020, and some supply chains are already seeing improvement.
• Consumer spending will be reduced in response to COVID-19 in the U.S. as individual consumption routines are disrupted in the second quarter of the year.
• The Trump Administration's 'Restoring Internet Freedom' order will increase real incomes by more than $50 billion per year and consumer welfare by almost $40 billion per year.
• Deutsche Bank's US economists expect modest economic growth of about 2 per cent in the US this year, despite a resilient labour market and solid consumer spending.
• In the coming years, IBISWorld expects the popularity of POS loans to continue to grow in line with consumer spending trends.
• The Consumer Electronics Show 2020, which starts tomorrow in Las Vegas, US, will be the platform for companies to showcase their new smartphone innovations.
• The Global BYOD And Enterprise Mobility Market is expected to grow from USD 41.04 billion in 2020 to USD 95.41 billion by 2026, at a compound annual growth rate of 15.86% during the forecast period.
• Multinational companies in the agricultural chemicals and consumer business industries will need an integrated sustainability strategy to retain their current quality of earnings over the next five to 10 years..
• The Russian economy is expected to report improved, albeit modest, growth supported by consumer spending and investment activity.
• The mobile operator worldwide investment forecast will be more than a trillion dollars over the coming years, focused on rolling out advanced networks to serve both consumer and enterprise customers.
• Economic growth may sink to levels not seen in more than a decade as the coronavirus that emerged in China late last year wreaks havoc on manufacturing, consumer demand and transport.
• The technologies developed could be applied to the urban air mobility and regional aircraft markets in the next 5-10 years, but deployment into the next generation of narrowbody airliners may take a decade or more.
• 5G will be the main driver for mobility for this year with the market for 5G infrastructure expected to hit $4.2 billion, with two-thirds of companies deploying 5G in 2020.

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Last updated: 09 April 2020