Trend Three: We (customer/consumer) demand immediacy!
Firstly, I want it now
I want it now consumers seek frictionless experiences that mesh with their lifestyles, allowing them to dedicate more time to their professional and social lives. They often turn to apps that help them organize their lives and especially intrigued by innovations that help them avoid queues, reduce waiting time, and synchronize their personal information and preferences
Secondly, The time premium is on the rise
Efficiency-driven lifestyle trend is driven by those aged 30 to 44 years, with almost 50% of this segment indicating they are willing to spend money on products or services that save time
Thirdly, Mobile app technology has helped people keep up
With mobile as the primary device consumed, apps that improve your lifestyle will continue to rise, ie. mobile banking, ride-sharing etc. No need to travel to a bricks & mortar, nor wait on the phone for customer service
Primary learnings and or take away:
- Consumers are as busy as ever.
They are beginning to EXPECT more from companies and want products and services delivered as quickly as possible. Efficiency-driven lifestyles transcend instant gratification. Time is of essence, and brands who can bring products, and or services that save us time will benefit. And not surprisingly, the ratio between purchases via in-store/person versus on computer/tablet versus on smartphone, the two latter are increasing across all demo groups. This was identified in the four categories: Apparel & Personal Accessories, Beauty & Personal Care Products, Large Consumer Electronics and lastly, Food for Takeaway & Delivery.