KUALA LUMPUR, Oct 10 -- Technology, customisation and sustainability have been identified as the three significant drivers impacting the eight key megatrends, according to Euromonitor International.
By year-end, 72 per cent of the global household population will own at least one smartphone, with more than 100 million online users located in China and India alone, making technology one of the key megatrend drivers.
According to the white paper, ‘2019 Megatrends: State of Play’, as consumers are increasingly seeking a personalised purchasing journey, retailers are altering the concept of shopping by integrating artificial intelligence, 5G and social media into daily lives.
“Technology has become such a big part of everyday life that the word, ‘Nomophobia’ has been given for the irrational fear of being without a mobile phone,” said Euromonitor International lifestyles head, Alison Angus.
Intertwined with technology, customisation is the second driver reinventing shopping experiences, followed by sustainability as 65 per cent of global consumers are prioritising the need to make a positive impact on the environment.
As consumer activism is rapidly rising, governments worldwide are committing towards sustainable growth and challenging corporations to offer sustainable solutions.
Euromonitor International is the world’s leading provider for global business intelligence, market analysis and consumer insights. More information at https://www.euromonitor.com.
-- BERNAMA
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