AI and the environment the main consumer trends in 2024 – According to Euromonitor International‘s latest report, global consumer trends in 2024 will be shaped primarily by artificial intelligence, sustainability and social, economic and political factors. In detail, the report Top Global Consumer Trends 2024 identifies six main trends:
1. Ask AI
- Generative AI-based platforms are influencing consumer decisions and redefining expectations of brand engagement.
- More than 40% of consumers would feel comfortable with voice assistants that provide personalised recommendations.
2. Delightful distractions
- Some 29% of consumers favour brands monitoring emotions to personalise experiences and offer an escape from everyday stress.
3. Faded green
- Environmental concerns remain a priority for over 60% of consumers, who question whether companies and governments are actually using resources to make a meaningful impact.
4. Progressively polarised
- Social responsibility, political affiliation and sustainability initiatives motivate purchasing decisions.
- In 2023, more than half (52%) of consumers only bought from companies they trusted.
5. Value hackers
- Consumers adapt their financial mindset to the cost of living crisis.
- In 2023, 44% of consumers planned to save more and are looking for smart strategies to get the best deals.
6. Wellness pragmatists
- Consumers are looking for quick and effective solutions to improve physical and mental wellbeing.
- 85 per cent of consumers are willing to pay more for proven beauty products.
Alison Angus, Head of Innovation at Euromonitor International, emphasises the importance for companies to handle sensitive topics with care, while remaining true to their core brand values.
AI and the environment the main consumer trends in 2024
