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] One of the biggest shifts in Chinese consumer behavior has been from the search, pay, and leave model of traditional ecommerce to social commerce.
• [New] Incorporating future mobility thinking into strategic investment planning is vital for sub-national transport bodies as the nature and methods of travel will change greatly over the coming years.
• [New] While India is the world's second largest consumer of coal, and annually imports 247m tonnes, costing more than $20bn (£15bn), India's electricity demand is forecast to fall by up to 15% over the next five years due to the economic reverberations of Covid-19.
• [New] Further decreases in consumer demand, increases in COVID-19 case numbers in various states in the U.S. and extended periods of retail store closure could result in negative impacts on future operating results.
• [New] Can Packaging is projected to produce sales of approximately €23 million or $27 million in 2020 and provides sustainable paperboard packaging to a number of large consumer food brands distributed across Europe.
• [New] The roadmap, supported by UK Plastics Pact members, aims to help the Pact meet its targets by 2025 and ensure that more than the current 4% of flexible plastic, which accounts for a quarter of all UK consumer plastic by weight, is recycled.
• [New] Consumer prices in Ireland are expected to fall significantly in 2020 due to the drop in demand and the steep fall in oil prices, which together should more than offset isolated price increases caused by pandemic-related supply disruptions.
• [New] Japan has been consistent in the development of HRS and announced the development of 80 HRS by 2021 with the help of collaborative efforts from the Japanese government and Japan H2 Mobility.
• Over the last decade, the Asian market has become an increasingly important region for the wine industry, with China expected to overtake France as the world's second largest wine consumer by 2023.
• While developing markets will continue to account for 70% of consumer goods growth, the mix of geographies has shifted, with emerging Asia generating far more growth than other developing markets (representing about half of global private consumption growth over the next 10 years).
• Global consumer spending in 2020 on smart home related devices will drop to $44 billion in 2020, from $52 billion in 2019, due to the economic downturn driven by widespread business slowdowns caused by Covid-19.
• Most agreed the strong influence on the market exerted by the Paris Agreement on climate change could cause the share of electric mobility to rise to up to 30% of global automotive production by 2023.
• India is expected to become the third largest car market in the world by 2021, due in large part to its production goals on the supply side, coupled with rapid rises in the workforce and urbanization, which drive mobility needs on the demand side.
• The global consumer drones market is expected decline from $2.47 billion in 2019 to $2.33 billion in 2020 at a compound annual growth rate of -5.60%.
• The global market for Mobility as a Service is forecasted to grow at CAGR 38.9% to register a value of USD 484.20 Billion in 2024.
• If the world embraces AVs without a shift to shared mobility, traffic could increase by 15 or 20%, and if AVs are not electric, CO 2 emissions would increase.
• One of the most obvious use cases for the Future of AR technologies is indoor navigation, and 2020 is expected to be the year that the average consumer gets their first real taste of its potential.
• The global economy is forecast to expand by 5% in 2021 due to the easing of containment measures and a gradual recovery in consumer and business confidence.
• With automotive manufacturers such as Nissan planning to sell at least 1 million electric vehicles annually by 2022, and Audi set to reach 800,000 by 2025, it is clear that the electrification of vehicles is gathering momentum in the mobility sector.
• If Australia is hit by a significant second wave of coronavirus cases, that would postpone the economic recovery that many economists expect in the second half of 2020, unemployment would rise even further and consumer and business confidence would take a significant hit.
• UK consumer spending remains weak in several areas and growth could falter later in the year as job losses begin to mount.
• Denmark's consumer price inflation is forecast to slow to 0.3% y-o-y in 2020, in part driven by a sharp fall in energy prices in the first half of 2020.
• Led by countries such as Australia, India, and South Korea, the Enterprise Mobility market in Asia-Pacific is forecast to reach US$ 129.9 Billion by the year 2027, while Latin America will expand at a 18% CAGR through the analysis period.

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Last updated: 13 August 2020