10 megatrends that shape consumer landscape

10 MEGATRENDS THAT SHAPE CONSUMER LANDSCAPE

BY – SHASHANK JADHAV NMIMS MUMBAI,shashankcjadhav@yahoo.in

• Fad: unpredictable, short-lived, and without social, economic, and political significance

• Trend: is a direction or sequence of events

• Megatrend : changes that are slow to form, and once in place, they influence us for some time— between seven and ten years, or longer.

FAD , TREND & MEGATREND

TOP 10 MEGATRENDS SHAPING CONSUMER

LANDSCAPE

1.TRANSFORMATION THROUGH TECHNOLOGY

TEXTING FOR MONEYM-Pesa (“Pesa” is Swahili for money; “M” stands for mobile), a joint venture betweenSafaricom and Vodaphone, is the biggest success story in mobile applications in EastAfrica. Conceived in 2005 and initially sponsored by the UK-based Department forInternational Development (DFID), the service allows subscribers to make payments andtransfers via text messaging over their mobile phone. Since its launch in March 2007, theuptake of M-Pesa has been very impressive: Within the first nine months, M-Pesa boasted a subscription base of one million users; by January 2010, it had registered more than nine million customers across Kenya, Tanzania and Afghanistan.M-Pesa can be used by anyone with access to a mobile phone and subscribed to theSafaricom network; all that is needed is an authorization, transaction code and proof ofidentity. Safaricom has been using M-Pesa system as a loyalty product to aid in retaining and acquiring new customers. Beyond payments and transfers, M-Pesa can now be used to purchase goods and airtime.

2.INCOME SEGMENTATION

3.INCREASED AWARENESS

INSURANCE & POLICIES

• Health Travel

Life

Banking and insurance

RETIREMENT POLICY

ENVIRONMENTAL

AWARENESS

EDUCATIONAL

AWARENES

S

4.EXHIBITIONS

Property Exhibitions

Car Exhibitions

Agricultural Exhibitons

Pharma Exhibitions

Art Exhibitions

Tech Exhibitions

5. CHANGING LIFESTYLES- STYLING LIVES

Fashion Food

Entertainment Westernization

???

Trends Before Now

Westernization of the rural

areas

Change in perception-

Fashion

Marketing-Entertainment

Food

Iss Diwali kaun khush hua?

6. FOOTFALLS AT MALLS

7. AGE COMPLEXITY & GENDER SEGMENTATION

• Age Complexity -1. Cosmetics-

Eg. Anti- Aging creams, anti-wrinkle creams , roll on etc. Success Story of Olay Total Effects.

• Age Complexity 2. Child Milk Products-

3. Television channels –

• Gender Segmentation-1. Men’s Cosmetics-

2. Two Wheeler Bike Industry-

8.TRAVEL & HOLIDAYS

• Travel-1. 1 day pass-

2. Private Cabs-

• Holidays –• Holiday packages-

Manali to Macau syndrome.

9. ONLINE SHOPPING, BOOKING AND RESALE

Online Shopping

EARLIER • Touch and feel buying• Uncertainty ,

anonymity• Delayed delivery • Payment was not

secure

NOW • Risk taking • Certainty • Delivery is fast • Cash on delivery • Discounts • Guarantee on products

Online Booking

Online Resale

10.HEALTH AND WELLNESS