Today’s male beauty consumers are informed and sophisticated, bolstered by dynamic sociocultural influences that are transforming gendered beauty norms. Self-care narratives driven by a digital pulse in social media education are encouraging more men to invest in and expand their skincare routines. As younger generations lead the push to normalise skincare practices for men, companies will need to continue brand-building online to reach an increasingly digital male consumer.
After re-evaluating their priorities during the pandemic, consumers continue to invest in taking care of themselves; both their bodies and minds. This impacts the way they consume and the products they use, opening new opportunities for brands that innovate and release products and services promoting body positivity, sustainability and simplicity that create a feeling of comfort and enhance the mood.
The development of embedded finance not only eases the customer journey throughout the retail funnel, which helps reduce purchase abandonment, but it also plays a critical role in driving digital transformation across channels.
As the world continues to urbanise rapidly, the share of global population living in cities is projected to reach 64% by 2040, up from 57% in 2023. This growth highlights the need for innovative and sustainable solutions to boost urban liveability, resilience and efficiency. Digital cities, accelerating climate action, and strategic planning are the key trends shaping the cities of tomorrow, vital for enhancing the quality of urban life and offering opportunities for businesses.
The airlines industry is one of the mature industries in adopting loyalty programmes as frequent flyer programmes morph into a profit centre. With shifting traveller behaviour, airlines have to transform engagement through different touchpoints to stay relevant, especially to appeal to younger generations. Airlines are working to provide mobile-led, personalised touchpoints that leverage on latest AI technology to increase their relevance with the younger generations and yield better customer loyalty.
At last year's ShopTalk event, the buzz was all about generative AI and its potential to enhance company performance and consumer experience. This year, brands and retailers, having gained some experience, are sharing their key takeaways from leveraging various AI solutions. The ups and downs in the industry have already provided valuable learning experiences, shedding light on the practical impacts of AI integration.
Understanding consumer behaviour is crucial for travel and tourism players to tailor services, identify emerging trends and adapt to market shifts. From airline to lodging and attraction companies, businesses are evolving in sustainable and digital transformation, and adopting Generative AI.
FMCG companies need to constantly think about how to launch products to stay ahead of changing consumer trends, volatile economic situations or tech advancements. This requires insight into new product development (NPD) activity.
Innovating is vital for businesses to stay competitive in today’s world, where demand for new is constant. In 2024, businesses have to innovate in pricing and value while reassessing consumer preferences to meet demand.