An uneven recovery from the pandemic, coupled with surging inflation and international turmoil, has created an environment of profound uncertainty for consumers. Already disrupted by the pandemic, consumer habits remain very much in flux, particularly in terms of social activity. This report explores the impact of a new social environment across a wide array of industries, from beauty and fashion, to retail food and drink, to foodservice and beyond.
This report comes in PPT.
Whilst talk of a ”new Roaring ‘20s” has died down amid continued consumer uncertainty, the idea of a medium-term return to hedonism and indulgence, following a period of trauma, remains a useful lens to examine the current environment.
An inflationary global environment could further cement home socialising, as more consumers look to economise, cutting back on trips to on-trade and away-from-home outlets.
Though the global extent of working from home during the pandemic has been exaggerated, there is no question that a significant portion of the world’s higher income consumers will continue to work from home more frequently, creating new opportunities and driving new approaches.
As consumers spend more time at home in the near term, the use of delivery to support an ever wider range of social occasions will increase, creating more opportunities for impulse-driven purchases.
As more socialising moves online, the food and drinks industry, among others, will require a pivot to online occasions, both in terms of marketing and in terms of the logistics of serving this demand.
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