Episode 60: 2021 outlook: What brands need to know about consumer spending
In our Season Two Holiday Bonus episode, the Little Conversation hosts discuss the year ahead and share their predictions for how consumer spending, demand, and optimism (or lack thereof) will impact markets worldwide. We saw some trends, like the rise in ecommerce, accelerate in 2020. Others experienced fundamental shifts, like the focus on local business. What is the trajectory of these changes and will they stick? The events of 2020 have resulted in a consumer divide: those who are eager to get back to pre-pandemic habits, to 'revenge spend', travel, and make up for time lost during lockdowns; and those who will keep their newly-adopted habits and spending practices, still cautious to re-enter in-person experiences and favouring quality over all else. Brands' strategic planning for 2021 must take this divide into account as everything from urban spaces, convenience shopping, and wellbeing to sustainability, transparency, and value come into question. Listen now to find out what's coming in 2021! Mintel's 2021 Global Consumer Trends and 2021 Global Food and Drink Trends are referenced in this episode. Mintel clients can learn more by logging in to clients.mintel.com now or speaking with their Account Manager. For everyone else, check out mintel.com in January for summary insights. Host: Dana Macke (Associate Director, Mintel Reports US, Lifestyles and Leisure). Guests: Andrew Davidson (SVP/Chief Insights Officer), Matthew Crabbe (Director of Mintel Trends, APAC), Samantha Dover (Senior Beauty and Personal Care Analyst, Mintel Reports UK), Edward Bergen (Global Food and Drink Analyst), Andrew McDougall (Associate Director, Global Beauty and Personal Care).