📈#021: Consumer shifts set to make or break global markets by 2026

Yet another fresh edition of Market Mosiac is here and delivered hot to your inbox! Thank you for always reading and depending on our intelligence insights and analysis on key global economic forces, industry disruptions, and data-driven consumer trends. 📈

In this week's edition, we dive into the emerging consumer profiles that will shape retail over the next two years, explore how changing sentiments are redefining shopping experiences, and analyze how these shifts are forcing retailers and business leaders like you to rethink their strategies.

— Insights Team, Rwazi

Our Edition this week:

• Data Spotlight

• The Pulse

• Sector Scan

• Our Competitive Watch

DATA SPOTLIGHT
The evolving consumer landscape (2024-2026)

Over the next two years, retailers will need to adapt to four distinct consumer profiles that are reshaping the market. Our analysis of data from 50+ countries found:

1. The Fact-Focused Consumers: Valuing transparency and factual information, this cohort is doubtful of marketing tactics and demands honesty from brands.

   ● 37% increase in consumers seeking detailed product information before purchasing

   ● 62% of consumers aged 25-40 have abandoned a purchase due to lack of transparency

2. The Non-Conformist Shoppers: Defying traditional consumer expectations, this group often opts out of conventional consumerism.

   ● 28% year-on-year increase in consumers identifying as "anti-consumerist"

3. The Awe-Seekers: These consumers will prioritize experiences that inspire awe (2024), fuel imagination (2025), and provide "glimmers" of joy (2026).

   ● 45% increase in consumers valuing experiences over mere products

   ● 73% desire products/services that help them "reconnect with themselves"

4. The Curious Technophiles: Driven by a desire to make technology more useful, equitable, and accessible, this group is interested in human-centric tech solutions.

   ● 56% increase in interest in "human-centric technology"

   ● 68% would pay a premium for products blending digital innovation with tangible benefits

Key Insight: Retailers must balance transparency, innovation, experience creation, and human-centric technology to effectively engage these diverse consumer groups.

THE PULSE
Featured Chart: The fastest-growing consumer markets where those profiles are emerging from

SECTOR SCAN
Retail adaptation strategies for the future

To align with these emerging consumer profiles, retailers should consider:

• Implementing blockchain for supply chain transparency and tracking

• Developing AI-powered personalized shopping experiences

• Creating in-store "awe stations" for immersive brand experiences

• Investing in human-centric technological solutions

• Adopting age-agnostic product and service designs

Key Insight: Success in this new landscape requires a holistic approach that addresses the needs of all these consumer cohorts simultaneously.

OUR COMPETITIVE WATCH
Pioneers in the new retail frontier

While we can't name specific brands, our global market analysis has identified several companies already leading the way:

• A Scandinavian furniture retailer investing in augmented reality for home design

• A US-based outdoor apparel company setting new standards for supply chain transparency

• An Asian beauty brand creating hyper-personalized products based on real-time data

• A European grocer experimenting with in-store "micro-joy" experiences

Key Insight: The most successful retailers are those creating holistic experiences that resonate with the deeper needs and values of these emerging consumer cohorts, and not just selling products.

WHAT IS HAPPENING AT RWAZI?
Explore trends we share on Market Mosaic deeper at Rwazi CEO Forum 2024

Speaking of staying ahead, we're delighted about the Rwazi CEO Forum scheduled for July 11th, 2024, in the vibrant city of Lagos, Nigeria. This exclusive gathering will bring together industry leaders to explore the market trends we discuss in the Market Mosaic newsletter and more, offering you the chance to:

• Gain firsthand insights into shifting consumer behaviours

• Discover emerging market opportunities

• Master data-driven growth strategies

• Network with visionaries shaping the future of retail

The forum will be a live embodiment of the insights we share in Market Mosaic, offering you the unique opportunity to engage directly with our intelligence. Together, let's not just predict the future of retail – let's reshape it together.

To learn, discover and explore more, visit the business forum’s website here.

Thank you for reading and joining us on Market Mosaic this week. We hope this edition provides valuable, actionable insights for deciding with data. 📊 

You can read the more extended version of this newsletter edition with detailed insights here.