Consumers to maximise time & money in 2015 - CNBC Africa

Consumers to maximise time & money in 2015

Special Report

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The report showed that consumers are favouring greater convenience, for which they are increasingly prepared to pay. PHOTO:

This is according to ‘Top 10 Global Consumer Trends 2015’ report by market research company Euromonitor International.

The report also indicated that consumption in 2015 is increasingly being driven by the heart, and that consumers are favouring greater convenience, for which they are increasingly prepared to pay.

“Post-recessionary consumers are prepared to pay for products that simplify their hectic on-the-go lives,” said report author and Euromonitor consumer trends consultant, Daphne Kasriel-Alexander.

“Technology plays a big part in attaining convenience, and omnichannel shopping options creates a seamless link between virtual and “real world” shops with wide consumer appeal.”

(READ MORE: Africa's middle class consumption an investment opportunity)

This year is also expected to see a rise in collaborative consumption and a culture of sharing products and services.

The report indicated that this sharing mindset has given rise to a plethora of collaborative endeavours from community gardening, to grouped workspaces and sharing via crowdfunding.

“In 2015, the sharing economy is growing and disrupting the way in which individuals think of space and ownership,” said Kasriel-Alexander.

“Consumers are increasingly preoccupied with access to goods rather than owning them outright.”

(READ MORE: Africa’s consumers increase buying power)

The top global consumer trends for 2015 also include buying convenience, malls and shopping centres in community mode, consumption as a route to progress, millennials, shopping the world, virtual to real and back, connected health and privacy matters, to name a few.

“Malls are reinventing themselves as community hubs rather than the commercial antithesis of it. Health, tracked digitally, is often benchmarked against the progress of significant others, and rising, chatty vlogger stars are appealing to millions through their relatable stories,” the report revealed.

“Individualism prevails in the heightened consumer desire to safeguard privacy, and still this conversation is shared and debated.”