Abstract
Introduction
The Lifestage Complexity mega-trend reflects the concept that consumers are
making their way through life in a less predictable, clear cut fashion.
Lifestage events such as leaving home, beginning work, getting married, having
children are now longer a given, with consumers increasingly breaking from the
traditional order associated with these.
Scope of this research
- Detailed trend analysis outlining what constitutes ' value' for consumers
(trends are, after all, a reflection of what' s important to consumers)
- Global in focus, but also offers country-by-country and sector insights
thereby catering to top-line or more specific information needs
- Covers all major FMCG sectors, but also with applicability to wider
consumer goods audiences
- One of 10 dedicated mega-trend reports outlining the most important issues
shaping global consumers' buying behavior both now and in the future
Research and analysis highlights
Ideas of what constitutes the typical family are having to change. Units are
becoming smaller and more varied in structure. With this comes a
diversification of consumer needs, given the wider range of scenarios and
household dynamics at work. Consequently, the diversity of family models needs
to be reflected in marketing
The ' natural order' of lifestages has been challenged by consumers who aim to
satisfy their own individual wants rather than adhering to the status quo.
They feel that the traditional progression through life rushes decisions, and
consequently they are delaying some lifestages to focus on their particular
needs rather than societal conventions
Consumers are living longer, bringing about a fundamental shift in the Senior
lifestage. Seniors are no longer a monolithic group, now characterized by a
wide range of circumstances and needs. Changes such as delayed retirement and
"boomeranging" adult children are fundamental in changing attitudes and
consumption behaviors
Key reasons to purchase this research
- Understand the significance of the different age-aligned trends across
territories and FMCG sectors to help support market diversification plans
- Save time and gain maximal insight by using this ' one-stop-shop' resource
which offers a clear and up-to-date framework for understanding consumers
- Access data from two waves of global primary research to increase the
likelihood of being ' on-trend' with NPD and marketing activities
Table of Contents
OVERVIEW
INTRODUCTION: THE IMPORTANCE OF TREND-TRACKING
- Tracking consumer mega-trends is fundamental to long-term success
- Trend-tracking insight 1: mega-trends can be classified in two ways
according to desirable benefits and societal complexities
- Trend-tracking insight 2: trends are aligned with pre-existing, but
evolving human values, attitudes, needs and behaviors
- Trend-tracking insight 3: mega-trends can be broken down into trends and
sub-trends highlighting that trend frameworks provide structure and clarity
at a time of ' information overload'
- Trend-tracking insight 4: manufacturers, retailers and
researchers/futurologists perpetuate trends
- Trend-tracking insight 5: adopting a broader, global perspective to
trend-tracking facilitates better decision making by overcoming ' category
myopia'
- Trend-tracking insight 6: trends have longer-term implications than fads
and can be categorized by evolvement
- Trend-tracking insight 7: for every trend there is a ' counter-trend'
while ' trend-crossover' is also and important phenomena
- Takeouts and implications: a trend framework boosts the quality and
frequency of insight generation ensuring maximum return from the broader
market research processes in place
THE FUTURE DECODED: DECIPERING THE LIFESTAGE COMPLEXITY MEGA-TREND
- MEGA-TREND SYNOPSIS: Consumers' lifestages are becoming less clear cut and
predictable
- TREND: Modern household structures continue to diversify away from
traditional models
- SUB-TREND: Average household sizes have declined as the nuclear family
concept fragments
- Key takeouts and implications: the fragmentation of traditional concepts
of the household opens up new opportunities for marketers
- SUB-TREND: Multi-generational living persists as a countertrend to
shrinking household sizes
- Key takeouts and implications: multi-generational families show the
continuing importance of traditional household structures and pragmatism in
responding to the social and economic challenges of modern life
- SUB-TREND: Empty nesters are growing in number
- Key takeouts and implications: Marketers can help new Empty Nesters make
the transition from active parenting to new independence
- SUB-TREND: Boomerang children / home-bounding children are becoming more
common
- Key takeouts and implications: Boomeranging behavior among the young can
have positive connotations but reflects current challenges in establishing
independence early in life
- TREND: Consumers' priorities as they move through life are changing and
diversifying
- SUB-TREND: Consumers are delaying the responsibility of marriage and
children
- Key takeouts and implications: consumers are reprioritizing their
lifestages, pushing back on getting married and having children
- SUB-TREND: Career paths are becoming more complex
- Key takeouts and implications: few consumers have the desire to work in
the same job uninterrupted throughout their whole lives
- TREND: The Seniors lifestage is extending and encompassing a wider range
of scenarios
- SUB-TREND: Populations are aging and life expectancies expanding
- Key takeouts and implications: the aging of the population is a
long-term trend that will continue long into the future
- SUB-TREND: The senior lifestage is characterized by a wider range of
attitudes and circumstances
- Key takeouts and implications: Senior consumers are becoming more
technologically and culturally savvy, and are particularly reluctant to
think of themselves as ' old'
- SUB-TREND: Delayed and phased retirement will rise
- Key takeouts and implications: consumers are working until they are
older in order to support themselves later in life
APPENDIX
- Definitions
- Methodology
- Further reading and references
- Ask the analyst
- Datamonitor consulting
- Disclaimer
FIGURES
- Figure: Datamonitor' s mega-trends are having a long-term and substantive
impact on the marketing landscape and can be grouped into two categories
- Figure: Consumer behavior and the innovations targeting it inevitably fit
into a ' trend hierarchy'
- Figure: Trend tracking can be a source of (comparative) competitive
analysis
- Figure: Datamonitor' s mega-trend framework helps set the agenda for the
specific topics covered in the New Consumer Insight (NCI) research stream
- Figure: Trend development is dictated by both ' consumer pull' and
' manufacturer push' and Datamonitor offers the intelligence tools to
capitalize on this reaity
- Figure: In a consumerist global culture, the broad consumption
spheres/segments transcend borders
- Figure: Several factors distinguish a trend from a fad
- Figure: Consumers are not necessarily living their lives in the same way
as those from previous generations
- Figure: Lifestage complexity is brought about by a number of conflicting
drivers and inhibitors
- Figure: Household structures are changing as illustrated by the decline of
the nuclear household
- Figure: The expanded family status lifecycle model reflects the trend of
complexing lifestages and drives the diversification of modern households
- Figure: The average number of occupants per household around the world is
flat or showing gradual decline over time
- Figure: The growth of single person households is expected to decrease
slightly in Europe in the lead up to 2014 as people look for the most
cost-effective forms of dwelling
- Figure: Economic circumstances are slowing the growth in single person
households in the Americas, particularly in the US
- Figure: Growth in the percentage of single person households is most
apparent in China and Korea within Asia Pacific as consumers seek enhanced
independence
- Figure: The cultural dominance and practicality of multi-generational
living means only a small percentage of households in Saudi Arabia and the UAE
are single person households
- Figure: Numerous factors both economic and social have resulted in an
increase in the number of multi-generational households worldwide
- Figure: The Swedish have the lowest toleration for consumers in their late
20s living in the parental home
- Figure: Consumers of all ages in the Americas have comparably favorable
views of children remaining in the family home until their late-20s
- Figure: Asian family-oriented culture influences the positive views
towards twenty-somethings living at home
- Figure: Consumers are changing their priorities and therefore altering how
their lifestages play out
- Figure: In the US, marriage rates are continually decreasing, which also
has a knock-on effect on divorce rates
- Figure: Websites are dedicated to providing consumers interested in career
breaks with a wealth of information and recommendations about the decision
- Figure: There are a number of social implications that are occurring
within the Senior lifestage category
- Figure: Seniors are making up an increasing proportion of the global
population
- Figure: Life expectancy is particularly high in Europe but growing fastest
in Asia Pacific
- Figure: The aging population means that the prevalence of age-related
conditions such as osteoporosis is set to rise
- Figure: Much is being made of society getting older
- Figure: The Baby Boomer generation are generally embracing technology and
seek enjoyment out of life
- Figure: Rising retirement ages is bucking a strong historical trend
- Figure: There are differences between consumer values and attitudes
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