Euromonitor International details digital consumer trends at PLMA Global
Continuing its four-day PLMA Global online event, the Private Label Manufacturers Association hosted speakers on Tuesday from Euromonitor International who discussed the top five digital consumer trends in 2022.
Michelle Evans, global lead of retail and digital consumer, Maxim Hofer, consultant, and Bob Hoyler, consultant, participated in the seminar. Euromonitor International is a global provider of marketing intelligence, with 100 countries in its in-depth consumer analysis network.
Euromonitor International listed the five tech-driven trends that will "redefine commerce," including the private label grocery landscape, as predictive personalization, delivery in minutes, green eCommerce, pickup perks and metaverse shopping.
“Consumers are more digitally savvy, leading to increased expectations,” said Evans of predictive personalization. “Fortunately there’s more data and types of data that retailers, brands and hospitality operators can use to not only get more personal, but also more predictive.”
Evans said that Euromonitor International found that the pandemic made consumers less loyal. With the pandemic seemingly on the downswing, consumers could soon be seeking loyalty again as they settle post-pandemic.
In 2022, private label retailers can expect savvier digital consumers who will expect more from interactions with brands, next-gen loyalty to evolve from points to personalized experiences, branded digital ecosystems, and a shift from reactive to predictive customer strategies.
Another emerging trend, green eCommerce, is a result of two factors: a surge in eCommerce paired with rising environmental concerns of pollution and climate change.
“eCommerce is quickly turning into the default shopping model,” said Hofer. “It is expected to record a 60% value growth globally until 2026. To benefit from the rise of eCommerce, companies will have to embrace sustainable business models, and in this context, 2022 will be critical because early movers will have a comparative advantage. The shift to green eCommerce is primarily driven by consumers.”
In 2022, Hofer said that private label retailers can expect an accelerated transition towards green eCommerce, new online shopping expectations set by Gen Z, sustainable solutions becoming a differentiating factor and conversations shifting to reducing waste and emissions.
For more on PLMA Global, visit PLMAglobal.com.