As consumers become more aware of the impact their spending has on the environment and certain social issues, the way they make purchasing decisions is changing. With this in mind, Vogue Business looks ahead to 2023 to forecast some of the major trends in consumerism. We explore how brands are responding to backlash, what fashionable food looks like and much more.
1. The Top Consumer Trends for 2023
With the digital revolution continuing to rapidly expand, 2023 is sure to bring more change in the world of consumer trends. From the way we shop, to the way we engage with others, modern consumers are leaving their mark in a big way.
- Experience is King: Physical and virtual experiences are becoming the most valuable commodity in the consumer market. Companies are investing more in experiential activities, from virtual rooms to virtual events, to enhance the consumer experience.
- Social Shopping: Social media is now driving a huge amount of consumer purchases. Consumers are looking to influencers, brands and their peers for advice on what brands and products they should be buying.
- 3D Printing: 3D printing technology is improving and becoming more widely adopted. Consumers can now easily access their own custom 3D printed products at costs lower than ever before.
- Voice Shopping: Voice-enabled devices are gaining popularity in the consumer market. Consumers are taking full advantage of these devices to quickly and conveniently order products while on the go.
The consumer market is evolving at a rapid pace, and 2023 is sure to bring some exciting discoveries. Consumers are increasingly looking for new and improved experiences, and we’re excited to see what the industry has to offer.
2. Evolving Attitudes Towards Brands
Gone are the days when buying from brands meant simply spending money for a desired product. The modern consumer is eager for brands that offer something more. They want to buy from brands with a meaningful message and purpose. This generational shift has led brands to adapt to fit changing attitudes and expectations.
Today, customers are much more informed when it comes to making decisions. They actively seek out companies that align with their values. They are seeking brands that are truly transparent and passionate about positive impacts on environmental and social issues. As a result, many corporations have made conscious efforts to strengthen their community involvements, embrace technology, maintain honest customer relationships and prove their commitment to making a difference.
- Many corporations have made conscious efforts to strengthen their community involvements.
- Customers are actively seeking out companies that align with their values.
- Many brands are embracing technology to meet the demands of their customers.
3. The Rise of Fashionable Food
Whether for the pleasure of enjoyably quirky diversions or a putting an emphasis on healthy living, fashionable food has been gaining momentum in recent years. And with it, an entire industry is being born around it, highlighting a deep connection between our wardrobe and the food we eat.
From rainbow coloured smoothies to chia puddings, Instagram is awash with mesmerising images of vibrant fruit and veggie dishes. Fashion and food creativity are becoming one, as the old dichotomy between plating aesthetics and nutrition is fading. Superfoods such as Kale, Maca, and Chia seeds are now seen as must-have ingredients for all healthy and stylish eaters, and chic anytime snacks such as protein bars, soups, vegan ice cream cones and even personalised salads are creating a whole new industry around food.
- Rainbow-coloured smoothies
- Chia puddings
- Kale
- Maca
- Chia seeds
- Protein bars
- Soups
- Vegan ice cream cones
- Personalised salads
4. Capturing the Consumer of the Future
We can no longer afford to ignore the wrenching changes that are being driven by emerging trends. Technology is simply too big, too disruptive, and too dynamic to ignore. The consumer of the future is a completely different beast, and organizations that want to stay profitable will have to make adjustments.
Here are some things companies must do to capture the consumer of the future:
- Adapt to Changing Trends: Anticipate customer needs and wants in order to be ahead of the game.
- Engage with Your Customer: Create meaningful engagements with customers using various online and offline channels.
- Be Flexible: Consumers today demand pricing flexibility and other customizations. Companies must meet their demands to continue to be relevant.
Change is happening faster than ever before, and the future consumer will be well-equipped to make their own wants and needs known. Companies must adapt accordingly or else risk getting left behind.
As the world continues to grapple with a new consumer reality, one thing is becoming increasingly clear: the future of consumer trends is looking far more uncertain, creative, and unpredictable than ever before. By staying ahead of the curve and being aware of the ever-changing socio-cultural fabric, companies and consumers alike can continue to make informed and responsible choices in the marketplace.
