June 28, 2024 – Many global macro trends, lifestyle trends, and consumer trends affect consumer behavior. Here are a few of the major forces that impact consumer trends and behaviors in Europe
Consumers Value Connections with Others
European consumers value connections with those close to them – family members, friends, and their community. Furthermore, European consumer trends show they value these connections for pleasure and also to manage stress. Several reasons explain the importance of connections. One reason is uncertainty about the economy. Consumers worry about financial pressures as well as the environment and health. Being close with others helps them deal with these pressures and worries. In fact, time with friends and family is the number one stress reliever for European consumers. According to European consumer trend research, consumers also say that spending time with family and friends brings them a lot of pleasure.
Consumers are Living More Consciously
In living more consciously, European consumers are supporting their local businesses by shopping locally. Also, European consumers are willing to pay more for food and beverages that are produced locally. Another aspect of conscious living is family mealtimes at home. Meals at home are the number one social activity for consumers over 35 years of age. These consumers also value family activities at home.
European Consumers Connect Virtually
European consumers have more opportunities to connect with each other in the virtual world. They can meet through playing on-line games, find partners for gaming, and drink virtually at a metaverse bar. The digital world offers European consumers new ways to connect with each other, have interactions that are fast and easy, and save on travel time. However, for some European consumers, the consumer trend of connecting virtually has made them more lonely. This shows the importance to European consumers of experiences that are local and physically accessible.
Consumer Trends Emphasize Home-Centric Living
Several macro trends drive European consumers toward home-centric living. The high cost of living forces European consumers to choose between spending for the home versus away from home. The transformation of technology in Europe, especially after the pandemic, has led to homes being more connected and equipped with technology.
Balance Between Home and Away From Home has Changed
Changing occasions means that European consumers can work from home and do shopping and other activities at different times of the day. That leads to more eating, cooking, and snacking at home. European consumers need more food and beverage ingredients and kitchen equipment for cooking from scratch. European consumer trends show that consumers spend more time at home partly because they are anxious about crises around the world. Also, increasing cost-of-living and rising temperatures from global warming drive European consumers to socialize more at home. Homes are becoming many things to consumers – home, office, café, lounge, and bar.
Healthcare Evolves into Self-Care
European consumer trends show that consumers feel a need to feel well, look good, and stay healthy in the future. This drives European consumers to focus more on prevention and to be open to complementary health solutions. Problems finding healthcare that is affordable and accessible motivates consumers to focus on prevention and to live healthier, more active lives. According to European consumer trends research, consumers are taking action to live more healthfully. They get regular exercise, eat more whole plant-based foods, and make hydration a priority. They also eat a healthy, nutritious diet as the number one way to live healthfully. Healthy living is an investment in the future.
Technology Boosts Health in Europe
Technology innovations such as digital devices and tools help support control and self-care for digitally savvy European consumers. Smart technologies allow European consumers to improve their physical and mental wellbeing in innovative ways.
Approaches to Health Vary with Age
European consumers have different approaches to health depending on their age. Young adult consumers are less likely to seek health advice from a doctor or GP and more likely to get advice from friends and family. They are more apt to take steps to improve their mental and emotional well-being, including getting more sleep, exercising more, simplifying their life, and changing their diet. Overall, European consumers want to age well and take action to support heart health and brain health.
Enjoyment is Wholesome
Wholesome enjoyment for European consumers means that health and pleasure have become intertwined. European consumers are socializing in healthier spaces and healthier ways. They seek better-for-you treats and eat a balanced diet to help reduce stress. Other important actions according to European consumer trends are outdoor activities as a way to manage stress, cutting down on alcohol consumption, and being more aware of how food and beverage choices affect the planet and population. Freshness, handmade, natural, and nutrient-rich drive pleasure.
European Consumers Shop and Eat Smarter
European consumers are using digital tools to be smarter shoppers. This helps them make or save money with digital tools in ways that also benefit the planet. Pressure on personal finances forces European consumers to pay attention to cost and value for the money. This is true also when European consumers take action to support the environment. European consumer trend research shows that consumers are shopping in less expensive stores, buying less convenience food, cooking from scratch, and shopping closer to home, all as a way to save money. Technology innovation makes it easier for consumers to check prices.
European Consumers Reduce Waste
European consumers are looking to save money by reducing waste. They are using leftovers, freezing more, buying less, and sharing or selling things that they no longer want.
This article is based on our report, “Consumer Insider: Europe Consumer Trends – Opportunities for 2024.” If you are interested in reading this report, feel free to request a demo.
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