2021 is presenting new challenges to the market in order to answer the new needs of the consumers. In the following article, we will review how some changes triggered off by the pandemic have accelerated some of the trends foreseen for the next 5 years.
Here is our analysis of the seven key aspects that any product strategy should consider this year:
1 | Well-being | Unlimited health
In the next 12 months we will observe how mental health will become a growing concern for the consumer. With the gradual return to normality and the impact of the pandemic, the brands will need to work on how to give mental health support to the consumers. This is a clear opportunity not only to provide mental health auxiliary products but also for the brands to act as guidance and support.
The brands have a responsibility and are given an opportunity to establish new rules regarding health and well-being.
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Some of the latest launches seen on the market are functional products that give support to the immune health, which is included within the consumers’ well-being.
“39% of the United Kingdom adults regularly include in their diet food that stimulate the immune system.” This rate will keep growing as the consumers will be observing the corresponding everyday benefits.
The product’s composition is an added value element to connect with the consumer, apart from its many health benefits than can contribute to social and environmental care with Organic or Fairtrade certifications.
Some other elements that allow connect with the consumer are an easy incorporation of the product in the daily routine, and its association to determined moments of consumption.
Because of the pandemic, the consumer has found more meaning in a proactive form of care, as we can check with the following insight:
“I’m ready to make short term sacrifices for a long-term impact on my health”.
- 82% of the Italian consumers agree
- 70% of the British consumers agree
To conclude this well-being and health first part, let’s see in detail what considerations should be taken in account in every strategy:
- WELL-BEING. How can we help the consumers with their different well-being issues?
- MENTAL AND PHYSICAL HEALTH. How can we be of any help to the people taking them from the “looking good” point to the “feeling good” point?
- PERSONALIZED NUTRITION. What opportunities can be found to give a personalized well-being support to the consumers?
- How can we keep up to date on how the concept of home has changed?
- How will technology affect the consumer’s attitude towards health? Technology and Big data will create future opportunities for the consumers to know better their health and its evolution.
2 | Experiences | Virtual lives
The digital experiences are not new, but lately they have become more important, especially the collective ones. The brands have to consider new spaces of interaction and communication with the consumers, such as online gaming and virtual events.
In fact, the consumers are getting more and more familiar with the different formats of digital experiences that allow them to relax, socialize, learn, and create.
3 | Environment | Sustainable spaces
Over the last year, a fast-growing demand for sustainability has been observed. The consumers are looking for transparent brands, they want to know how their actions can help protecting their community and environment.
One of the aspects that will determine the consumers’ attitude will be the climate crisis, that will keeping having more and more impact on our daily lives.
In fact, in the UK: “77% of the consumers state that they try to lead a daily life that is harmless to the environment.”
The consumers opt increasingly for brands that show environmental ethics. In fact, “53% of adults in the UK prefer brands that are aligned with their own values”.
The brands should think about what role to play to support their local community and how to guide the consumers into reducing their environmental footprint.
4 | Technology | Digital dilemmas
Technology has been playing an important role in the consumers’ trends, especially in the past 12 months.
Moreover, connectivity will go along the increasing need to look for human interaction, in other words humanizing the digital channels.
Even though the technological progresses show a huge potential for improving people’s life, caution is also growing along with technology dependency.
The consumers want to rely on technology as long as it favours and contributes positively to their lifestyle.
Hyper connectivity is producing the consumers’ exhaustion, and they will look for support in brands that can help disconnecting.
The brands must think about how to offer the consumers ways to support their community and how they can disconnect from digital life.
5 | Rights | Collective empowerment
The consumers are striving to have their voices heard loud and clear in favour of promoting equity and rights.
The current situation is an unprecedented global activism, both online and offline.
Meanwhile, the consumers demand more and more protection of their personal information. As a matter of fact, in Poland 81% of the consumers state that it is important the companies protect their personal information.
The consumers expect the brands to promote equality, thus they should reflect upon:
- Can the brands encourage global solidarity to develop a long-term commitment?
- CONSUMER PRIVACY. What can the brands do to position the strategies towards the consumers’ rights?
6 | Identity | Let’s go together
The consumers are joining like-minded communities to connect and support each other, as a result of the world pandemic.
This is an opportunity for the brands to support the consumers who feel socially isolated. They can’t fix their situation, but they can support them and create a community so that they connect.
We can highlight the following thoughts that the brands should keep in mind:
- EMOTIONAL HEALTH. How can the brands help the consumers feel more connected in order to support their emotional health? Which platforms could be used to get there?
7 | Value | Change of priority
The consumers are eager to return to the basics, focusing on flexible possessions and rethinking the true meaning of property.
The consumers are trying to revaluate what is essential and show more awareness when they purchase. A key aspect will be getting to standardize the principles of circular economy in the consumers’ purchases.
Trust has turned into a fundamental demand from the consumers; it has always been a main concern, but it will gain more importance still.
The way to define the brands’ credibility will be to act with determination and fulfill the ethical commitments that had been previously made.
The statistics show that the consumers declare it is worth paying more for higher quality products. This is a clear opportunity for the brands to reposition their products in terms of value and quality, through their elaboration process or their positive impact on the environment.
HoneyGreen+ | How do we support our customers in the product strategy?
One of the key pillars of the service we offer is the Beeconsulting, focused on supporting our customers to boost their sales through solutions that are aligned with the market’s trends and the final consumers’ demand.
- We advise our customers about what the ideal ingredient could be, according to the pursued benefit. We are aware of the consumers’ demand for products that support immune health, that is why our portfolio contains ingredients that respond to that need. We’re inviting you to read the latest article in which we answer the question How can Propolis help reinforce your brand with immune health?
- We work with ingredients whose characteristics adapt to the market and the consumers’ demands: organic ingredients, GMO free, low glycaemic index, no additives and no allergens.
- Working on the consumer’s trust is one of our customers’ challenge, that is why we collaborate with different certifications that are aligned with our commitments to society and environment, such as the Organic, Fairtrade, Kosher and Halal certifications.
- One of our team members is a market Intelligence partner, with whom we design tailored made studies to find out: the evolution of the ingredients, which claims go along with our ingredients on the different markets, and what ingredients are being combined with them. Contact here with our team.