Transform Your Innovation

Transform Your Innovation
Strategy with Megatrends

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contents
1 Why Megatrends Matter 33 How to Use Megatrends for Strategic

Planning
3 The Most Influential Megatrends
Through 2040 36 About the Author
Convenience
Digital Living 36 Contributors
Diversity and Inclusion

37 Appendix
Experience More
Personalisation
Premiumisation
Pursuit of Value
Shopper Reinvented
Sustainable Living
Wellness
© 2023 Euromonitor International v

WHY MEGATRENDS
MATTER
Transformational, powerful, global. That’s the

magnitude of a megatrend. But what exactly are
megatrends? And more importantly, how will
these influence your business trajectory?
For starters, megatrends are long-term,

fundamental shifts in consumer behaviour. They
tell you how your customers’ values, priorities and
preferences are (and continue) evolving, which
inform their lifestyle and consumption choices.
Their characteristics can overlap and intersect—
even be contradictory at times.
Megatrends often transcend economic

fluctuations but significantly shape market
direction, competitive landscapes, purchase habits
and profit.
© 2023 Euromonitor International 1

Why Megatrends Matter
But these aren’t overnight developments. Socioeconomic, technological

and environmental drivers are underlying forces that determine how these
materialise.
Your strategy needs to serve and centre around your customer. Megatrends can
point you in the right direction—if used to guide your decisions and business
planning. And we show you how to do just that later on.
Tracking and analysing megatrends will keep you one step ahead. How? Because
you’ll be able to act on the ones that impact your business now and in the future.
New opportunities become more apparent. Innovation becomes proactive, not
reactive. And you can better adapt or pivot to keep your competitive edge.
In this white paper, we outline 10 megatrends to watch over the next two
decades. You’ll gain insights on these long-term behavioural changes and what
you should focus on for each, so you can build a resilient business. Plus, we teach
you how to incorporate megatrends into your strategy to set you up for success.
These shifts are here to stay. Read on to find out which ones affect your target
audience and commercial objectives.

THE MOST INFLUENTIAL
MEGATRENDS THROUGH
2040
Convenience Premiumisation
Digital Living Pursuit of Value
Diversity and Inclusion Shopper Reinvented
Experience More Sustainable Living
Personalisation Wellness
The Most Influential Megatrends Through 2040
Convenience
Time is a crucial commodity. Every second
counts. And we’re always looking for faster or
easier solutions.
Efficiency, immediacy and simplicity are at the

core of this megatrend. Consumers demand
convenience across all aspects of their lives,
from each touchpoint or transaction, especially
as the world becomes even more complex and
noisy.
67% looked for ways to simplify their
So, what do they expect? Access to everything lives
at any time and from any place. Instant
gratification with minimal effort. Easier and, as
a result, more seamless experiences. And this 42% were willing to spend money to
level of convenience should (ideally) be woven save time
into your offer without your customer asking
for it.
41% felt under constant pressure to get
things done
Note: Percentage of consumers.

Source: Euromonitor International Voice of the Consumer: Lifestyles Survey, fielded January/February 2023

FOCUS AREAS FOR INNOVATION

Pricing
Convenience can come at a cost. Not everyone can afford
it, but many consumers would pay more for this advantage.
Regardless, the expense needs to be justified.
Shoppers continue to weigh benefit against price. You

need to create solutions that are worth the level or value of
convenience.
Simple solutions
Yes, saving time is a priority, but convenience also makes your
customers’ lives easier. You should strive for streamlined,
straightforward and effortless solutions. Keep that desire for
immediacy in mind, too.
Subscriptions are an exemplar of this megatrend due to the set-

and-forget—yet, periodic—nature. Think beyond your physical
product; an exceptional service that supports these needs can
be a differentiator.

The right tools

Digital integrations can provide hyper-convenience to improve the
customer journey.
Investing in the right technology to enable virtual experiences,

self-service options, one-click solutions and ultrafast delivery,
among other offers, will strengthen loyalty and drive recurring
business. You’ll want to focus on removing friction to create
seamless transactions and engagement.
Access and availability

Consumers want to get what they need when they need it.
You should build operations and a supply chain to guarantee
continuous inventory. That way, your customers can find
information, goods and services across platforms at their disposal.
Rappi
Explore new business models, distribution channels or SKUs and
Rappi is a technology company operating across
try to eliminate any barriers that would restrict access. When
Latin America, specialising in delivery of goods and
you expand product variety or give customers more ways to get
services.
your offer, you increase the chance of satisfying their needs while
reducing the potential for them to go elsewhere.
The app is a one-stop shop for customers and offers a
subscription service with perks like free shipping. In
2021, the company launched its Turbo service, which
promises delivery of certain items within 10 minutes.

Digital Living
Our world revolves around digital connectivity.
Infrastructure is advancing at pace. Consumers 98% 87%
expect in-person and online experiences to
operate in tandem.
Tech advancements continue to accelerate the of the population will of the population
digitalisation of our daily routines: shopping, own a smartphone by will be using the
socialising, work, education—you name it. 2040 internet by 2040
We’re able to partake in activities online that
were once only accessible in person. And much
more efficiently at that. The shift to digital also
paves the way for an inclusive global culture.
Take travel, for example. Trips abroad are less 72% 58%
restricted because anyone can visit places
virtually around the world.
Technology will only become further ingrained

of consumers used of consumers would
into our lives. And new developments like
technology to improve feel lost without
the metaverse could democratise access to
their daily lives internet access
enhanced, immersive experiences, enabling the
seamless convergence of physical and digital
realities.
Source (top): Euromonitor International
Source (bottom): Euromonitor International Voice of the Consumer Lifestyles Survey, fielded January/February 2023

The most influential megatrends through 2040

Personalise without compromise
Consumers expect digital experiences that are tailored to their
individual interests. Data is invaluable here because you’ll need
granular insights in order to execute. But privacy still remains a
concern.
Your first step should be building trust with your customers and
proving value in exchange for their information. Then, you can up
the ante. Use technology like AI to create personalised solutions
and targeted marketing.
Everything on demand
On demand is in demand. Consumers want quick and reliable
options, which led to a need for speed. That is, tightening the gap
between purchase execution and consumption.
You’ll want to accommodate consumers that are accustomed

to this level of service. Digital integrations can help you offer
expedited access and flexibility to elevate the customer experience.

Smarter homes
Think of the home as a digital hub. It’s no longer a place where
we only eat or sleep. Our households also serve as offices,
shopping centres, movie theatres, schools and gyms.
Plus, connected devices like appliances give people greater

control (even remotely) and the freedom to multitask, which
has opened the door to passive consumption. This shift requires
you to reconsider where and when your products or services are
used.
The metaverse
Immersive, multisensory experiences are on the horizon. The
metaverse will continue to gain momentum and become a new
platform for marketing and branding. First-mover brands are
Source: The LEGO Group
already making headway to stake a claim in this space with
The LEGO Group x Epic Games digital assets and partnerships.
The LEGO Group and Epic Games announced a long-
You should monitor the evolution of this next-gen virtual
term partnership to develop a family-friendly space
environment. And as development progresses, assess how the
for kids to play in the metaverse. The goal is to create
metaverse fits into your strategy based on your audience and
a safe digital environment that protects children’s
objectives.
privacy and empowers creativity.

Diversity and Inclusion

Everyone has the right to feel heard,
empowered and treated equally. Stereotypes
and stigmas are gradually being broken, but
there’s still work to be done. Fair representation
is coming to the forefront, and inclusion is
indisputable.
Purchase decisions are no longer solely based

on the end-product. Your mission also plays a
significant role. Equality should sit at the core
of corporate values.
Consumers expect brands to take action

and have a tangible impact. They demand
60% 32%
authenticity and consistency. Disingenuous
or empty promises wreak havoc on your
credibility. Brands that deliver stand to gain
trust and loyalty. Those that don’t could of consumers gave of consumers were
become irrelevant. back to those in need actively involved in social
and political issues


A holistic approach
No two people are the same. So, you need to address the
multidimensional needs of consumers. Think about tailoring,
expanding or redesigning product lines for various cultures,
communities or abilities. Your offer aside, consider how you can
create inclusive workforces, supply chains and partnerships.
But this is no simple feat; it requires investment and dedication.

The ultimate goal is to create a comprehensive strategy that
weaves DEI principles throughout your business. And that will help
your long-term brand equity.
Brand purpose
Your brand values must match those of your customers. And these
have to be at the centre of your business plans and innovations.
Activism will only continue to rise, especially when it comes to

social responsibility. Many shoppers won’t buy from brands they
don’t trust or that don’t share their same beliefs. Your brand
purpose needs to connect with your customers on a deeper level.

Outreach and advocacy

Engage with marginalised communities. You can learn about
their needs to inform product development and campaigns.
Take initiative, listen and be receptive. When you understand
the real experiences and struggles these individuals encounter,
you’re able to design solutions that cater to them.
Workplace culture
Every company should cultivate a culture where employees are
supported and valued. A safe, collaborative, judgement-free
environment in which everyone has a voice is paramount. The
right policies and resources will allow your teams to flourish.
And tap into your workforce. Idea sharing should be

encouraged, even incentivised, to unlock creative potential.
Source: L'Oréal
Plus, employees can be your best advocates, so use their voices
to humanise your brand. L'Oréal
L'Oréal is piloting a new computerised handheld
makeup applicator called HAPTA that stabilises
lipstick application for those with limited hand and
arm mobility.

Experience More
Experiences > possessions. Consumers put
more value on doing than owning. And that’s 60% looked for curated experiences that
created a new standard of service. were tailored to their tastes
Consumers won’t settle for typical or basic.
They want better. Now, it’s about high-quality,
value-added interactions. Unique, captivating, 47% preferred to spend money on
curated, entertaining—these are all examples of experiences rather than tangible items
elevated engagements that are expected.
You need to connect with your customers

43% wanted to engage with brands to
in a meaningful way. Touchpoints should be
intentional, and every stage of the user journey
influence product innovation
should be enhanced. Digital storytelling,
incremental benefits, purpose-driven initiatives
and new formats can help attract consumers. 39% liked to be actively engaged with
Ultimately, they’ll gravitate towards authentic, brands
enriched or sensory experiences.


Less = more
Consumers want to get the best experience at the best price. A
no-frills strategy is often the practical route because value for
money remains a priority.
Always keep your audience in mind. What are their biggest pain
points? Adding all the bells and whistles might seem like a great
idea, but do those features actually benefit your customers?
Zero in on how you can exceed their expectations to forge long-
lasting connections.
Community and collaboration

Customer loyalty can be inconsistent. But creating a community
amongst your audience increases engagement and fosters a
sense of belonging. You can even bring these shoppers into the
product design process or solicit and onboard their feedback.
And that will help keep your brand top of mind.

Fun and functional

You can spend time, money and resources on building a top-
notch experience, but will your customers enjoy it? Of course,
benefits and value are important. And layering in an element of
entertainment should be, too.
You want to leave a lasting (positive) impression. The goal is to

form stronger customer relationships. Your brand experiences
should deliver on all levels, from functional to emotional.
TNEX
TNEX launched in 2020 to become the first digital-
only bank in Vietnam.
Gaming company Topebox built and co-designed the

app with consumers to create gamified payments and
a unique set of emojis that help customers monitor
and manage their money. A rocket emoji is fired
on screen to confirm payment, and a big red emoji
appears when the user has a low balance.

Personalisation
Consumers want bespoke products that 48% 47%
accommodate their specific lifestyles.
Merchandise, services or campaigns need to
be geared towards each individual buyer and
their particular needs. Custom dosages and wanted products and liked to be distinct
formulations are just two examples of this services uniquely from others
evolution. tailored to them
Data collection from smart devices and
digital tools unlocked a new level of insight
for consumers. They have more information
about their health, nutrition and habits than
ever before. And that is propelling demand 47% 38%
for hyper-tailored options. Despite privacy
concerns, consumers see the benefit of sharing
their data for this purpose.
expected personalised shared their data to
Brands are tasked with putting the “custom”
experiences as an receive personalised
in “customer.” You’ll want to offer solutions or
incentive for sharing their and targeted offers
deliver precision products that address certain
concerns.
preferences with retailers
or brands
Source: Euromonitor International Voice of the Consumer: Lifestyles Survey, fielded January/February 2023 and Voice
of the Consumer: Digital Survey, fielded March/April 2022

Samsung
FOCUS AREAS FOR Samsung’s Bespoke Design Studio
gives consumers creative control with
INNOVATION custom colour selections for their
appliances. In 2022, Samsung added
Competitive advantage
the ability for shoppers to incorporate
Personalised products and services are rapidly
artwork—even their own photographs
expanding. Prices are falling through scale and
—into the design.
tech improvements. Plus, the competition can be
fierce.
Source: Samsung
You’ll need to differentiate your value
proposition. That could be through credible
analytics, transparent methods or tapping into
unmet consumer needs, for example.
Education and efficacy Get ahead or get left behind

Consumer interest in these products is rising, Personalisation remains a niche segment but is shifting towards mass market. You
but knowledge is limited. And that’s especially should begin to invest now if you want to play in this space.
true when scientific solutions are involved,
You can start with tools you already use like social media to run simple and cost-
which means they’re still sceptical.
effective surveys or questionnaires that can be tailored. Companies that fail to adapt
Targeting a broader audience requires education to this megatrend will falter.
and transparency to generate trust. You’ll have to
demonstrate measurable results. Proven efficacy
goes a long way here.

See why over

3,000 organisations
partner with us
TOUR THE PLATFORM
Premiumisation
Premium holds a variety of meanings for
different people. And individual priorities are
often the force behind those perceptions.
Consumers will spend money on the things

they value most. Their desire for healthier,
sustainable, unique and intentional living drives
their willingness to pay more for what matters.
Personal growth and self-improvement can also
motivate these purchases because consumers
want to invest in their development.
Ingredients, materials, design, features—these

are all aspects you can level up to improve
your offer. Regardless, products that command 43% of consumers preferred branded
a premium price point must help consumers goods to non-branded products
achieve their lifestyles and align with their
personal choices. Benefits need to be obvious
and equate to the cost.
34% of consumers would rather
buy fewer but higher-quality items


Services that add value
Consumers can be selective about what they indulge in.
Purchase choices are often driven by more than just a luxury
brand or high-end product.
Instead, they look for services that complement a product,

upgraded functionality or expertise. You’ll want to consider all
use cases for your offer and how you can elevate or enhance
those.
Positioning
Your positioning strategy is crucial. You really need to lean into
your USPs and convey benefits or quality. Align with consumer
values to create a level of aspiration. Demonstrating how your
products contribute to their lifestyles or further their goals can
entice consumers to trade up.

A wellness lens
Health is high on the list of priorities for consumers. And
they’re more inclined to try new items, even higher-cost
solutions, to live better and for longer. You should tout your
wellness benefits.
If you’re not an inherent health brand, still consider how your

products can help or encourage wellbeing. Communicate those
qualities in your product marketing.
Digital capabilities
Tech is often the driver of many premium solutions. The use
of AI and robotics, for example, supports the development of
Source: Carrefour tailored and time-saving solutions that warrant a higher price
point. The right integrations can improve your offer and user
Carrefour experience, which could assert a premium positioning.
Carrefour launched a new range of premium craft
beers in Poland that are brewed with natural
vegetable juices. The locally sourced products are
fully vegan and appeal to consumers willing to pay for
healthier varieties.

Pursuit of Value
Economic volatility over the years created
cautious spending habits. Consumers across
income classes and markets have a savvier
mindset, which helps them prepare for future
shocks.
They’ll actively find ways to get better quality

at a lower cost. And they’re on the hunt for
54% extensively researched bargains or discounts. Brand loyalty becomes

less apparent because value for money takes
products and services precedence. Price is important but must align
with other purchase motivators like durability
or convenience.
44% planned to put more money
aside into savings Keep in mind, consumers seek value in different
ways. Stretching resources also means a shift
towards conscious consumption and the need
44% liked to find bargains or desire to be less wasteful. Brands will need to
cater to varying demands.
30% liked to repair items instead of

purchasing new ones
Source: Euromonitor International Voice of the Consumer: Lifestyles Survey, fielded January/February © 2023 Euromonitor International 22
2023
FOCUS AREAS FOR

Xianyu
INNOVATION Alibaba’s secondhand platform Xianyu
Value for money brings preloved, recycled, refurbished and
Price positioning is a huge component here rental products to consumers in a seamless,
but shouldn’t be the only consideration. easy-to-use app linked to Alibaba’s
You’ll need to compete on factors that centre ecosystem in China.
around perceived value. That could be quality
or longevity, for example. You could also
incorporate extra functions or features.
Source: Alizila
Regardless, you should have a clear
understanding of what your customers want.
Use that knowledge to guide your approach.
Creative solutions
Explicit benefits
Think about new business models or solutions that help extend the life of
Shoppers make purchases based on
products. Refurbished or secondhand goods can make your brand accessible
research, recommendations or facts. Though
at a lower cost. Plus, these options cater to conscious consumption and waste
motivations tend to differ, their decisions are
reduction. You could also explore alternatives to pure ownership like renting or
informed because they’re weighing all options.
net-new production like repairing.
Your product marketing needs to clearly
communicate the value of your offer. Be
transparent and use trusted information
sources like customer reviews as
reinforcement.

Shopper Reinvented PURCHASE CHANNELS FOR GOODS AND SERVICES

% of consumers who made these purchases in the past year
How we buy goods and services is radically In store Online
changing. New business models amplified the

100% 100% 100%
competition. Social media and voice-enabled
devices like smart speakers double as commerce
platforms. Consumers browse and place orders
with a few clicks on their smartphones. Brand 50% 50% 50%
discovery can happen anytime, anywhere.
The buying process extends beyond the

transaction. It’s about building and establishing 0%
Apparel and accessories
0%
Beauty and personal care
0%
Food for delivery or takeaway
relationships before, during and after
purchases. You need to be where your target 100% 100% 100%
audience is, and the entire experience has to

be stellar. That’s how you’ll foster and retain
loyalty. 50% 50% 50%
Technology powers an enriched customer

journey. Automation can improve efficiencies
while AR and VR can elevate brand 0% 0% 0%
Large consumer electronics or Small consumer electronics or Toys, games or movies
engagements. You can make use of digital tools appliances appliances
to deliver a truly curated, consumer-centric Source: Euromonitor International Voice of the Consumer: Lifestyles Survey, fielded January/February 2023
experience.


Ubiquity Tech upgrades
Consumers expect a seamless user experience Retail operators should be investing in tech to stay relevant and competitive. Before
across all touchpoints. Map and analyse taking the plunge, understand which integrations will solve your customers’ pain
your customer lifecycle, so you can improve points or further brand ethos. The wrong applications or tools might not result in
interactions and get closer to your target strong ROI. Assess where to invest based on specific use cases, product categories or
audience. your customer base.
Retail operations need to be agile and adaptable

to serve shoppers at any moment. Aim to be
omnipresent.
New selling models

Digital transformation created new, alternative
business models. More companies are Buo
cutting out the middleman and going direct Online supermarket Buo in Spain helps
to consumer, for example. Click-and-collect customers save up to 30% on purchases
and curbside pickup options are the current compared to traditional grocers. The
wave of solutions in response to e-commerce company sells surplus items at a
acceleration. discount to fight food waste and offers
But services and store formats will continue to a group-buying model to lower costs.
evolve alongside future developments. Make Source: Buo
sure you’re selling through the right channels
before it’s too late to pivot.

TOP 3 ENVIRONMENTAL ACTIONS

% of consumers
Sustainable Living
We want to have a positive impact on the planet Reduce food waste
and communities. That means consumers are

paying more attention to business ethics and
moral values. Reduce plastics use
Sustainability, animal welfare and production

or labour practices have a bigger impact on Recycle items
consumption habits. Environmental and social
issues will continue to influence purchase 0% 10% 20% 30% 40% 50% 60% 70%
decisions for generations to come.
TOP 3 SOCIOPOLITICAL ACTIONS
The pressure is on for companies to set % of consumers
responsible standards and champion a
sustainable future. Every business must play
Vote in elections
an active part in protecting people and natural
resources.
But a big challenge remains: the price tag. Share my opinion on social or political issues
on social media
Consumers aren’t typically willing (or even
able) to pay a premium for these solutions.
Brands will need to make the sustainable option Buy from brands that support social and
political issues aligned with my values
an affordable one, too.
0% 10% 20% 30% 40% 50% 60% 70%


Commit to the cause
Sustainability is a broad concept. There are several issues
to tackle and goals to accomplish. And the market for these
products continues to expand.
Ask yourself: what do our customers care about? Which
concerns are they passionate about? Then, make a concerted
effort to incorporate those matters into your mission. You
need to understand where demand or market gaps exist and
the values of your target audience to make sound investment
decisions.
Don’t stop at your product lines or services, though. You can
review all business functions like strategic partnerships or
supply chain management and find opportunities to effect
positive change.

Affordable alternatives
The intent and desire to live sustainably is evident. But
affordability continues to be the top challenge preventing mass
adoption.
Consumers are often faced with a trade-off between cost-

effective or sustainable products. Significant price differences
can be prohibitive. Create economical alternatives, so the
sustainable choice also becomes the easy one for your
customers.
Circularity
Consumers turn to rentals, refurbished items or secondhand
goods for lower-cost and more resourceful options. Circular
business models can help bridge the gap between sustainability
and affordability. Dole
Fruit and vegetable producer Dole repurposes
Explore these revenue streams for your brand, and think misshapen crops at its Thai farms to reduce food
outside your offer, too. Consider how you can reduce waste or waste. The company turns unsellable produce into
reuse materials throughout your supply chain. packaging made from banana leaves, snacks made
from vegetables and electricity processed in biogas
facilities.

HOW CONSUMERS DEFINED HEALTH Wellness

% of consumers
Holistic health gets further embedded into
Mental wellbeing our lifestyle choices. Consumers are taking
ownership of their entire wellbeing. This
A healthy immune system extends beyond their physical condition to
encompass mental, spiritual and emotional,
Getting enough sleep too. Self-care becomes centre stage, and
preventative care is prioritised.
Feeling “good”
Products that help improve sleep, mood and
mindfulness are early iterations of this shift.
Emotional wellbeing
Consumer perceptions are also evolving
to comprise broader wellness dimensions
A healthy weight
around emotions, including environmental
consciousness and economic inclusivity.
Absence of disease
Scientific developments and digital adoption
0% 10% 20% 30% 40% 50% 60% 70%
will continue to expand market potential.
Source: Euromonitor International Voice of the Consumer: Health and Nutrition Survey, fielded January/ Tech-enabled wellness creates precise, data-
February 2022
driven solutions and advanced diagnostics.
Your products or services should help your
customers achieve optimal health.


Multiple dimensions
When you describe wellness, what comes to mind? Physical and
mental health, presumably. But those are only two components
of this megatrend. Environmental, social and financial, for
example, are just as important and link directly to emotional
wellbeing.
The different pillars of wellness don’t exist in isolation. You

should adopt a 360-degree view for new product development
and brand building. Think of wellness as an integrated
ecosystem.
Reliable and credible products

Consumers are looking for real results, and product claims need
to be supported. Proven efficacy can sway purchase decisions.
Back your brand with testimonials, before-and-after pictures or

research studies, for example. Be transparent and substantiate
evidence. You may need to lean on medical expertise to validate
credibility.

Precise data
Consumers want accurate data to make informed decisions
about their health. Robust tech capabilities can help you provide
real-time monitoring and predictive solutions.
These digital integrations improve the user experience and give

consumers more control.
Source: Lumen
Lumen
Lumen created the first handheld device to track
metabolism.
The company combines science-backed technology

with a breath analyser to measure CO2 levels to
assess each user’s source of energy. Consumers
get real-time data, meal recommendations and
personalised nutrition insights to help improve their
wellbeing.

Which trends
should you
TREND ANALYSIS
Start with one trend and answer each question below. Keep your target market, buyer perso
plans in mind. Then, repeat this process for each trend you selected.
focus on? 1 Trend 2 Define this trend. 5 How can your cu
Start to find your answer in our

trend analysis workbook. 3 Which macro-level drivers are influencing this trend? (e.g., economic, consumer behaviour, technology, climate, etc.)
6 How are your co
Let’s turn these insights into

innovations.
4 What are two potential consumer needs or pain points related to this trend?
7 Which new prod
GET THE WORKBOOK
START OVER REVIEW ANOTHER TREND TAKE THE NEXT STEP

How to Use Megatrends for Strategic Planning
HOW TO USE
MEGATRENDS
FOR STRATEGIC
PLANNING
Now, let’s put the power of megatrends into your

business, so you can shift from reactive execution
to proactive implementation.
A traditional market analysis helps you find gaps

and pockets of growth, but you shouldn’t base
decisions solely off these insights. When you
track megatrends, you’re able to innovate for your
customer and their evolving demands or values.
And you start to discover opportunities that could
drive long-term profit.
Follow these four steps to incorporate megatrend

analysis into your strategy.

1. Identify and Prioritise 2. Assess
First, you need to identify which megatrends are the most Next, evaluate the impact of each on your sectors or product
relevant for your business. Remember, there can be similarities categories. You’ll also want to examine quantitative shifts of the
and synergies but also contrasts. top drivers (e.g., population, internet access, expenditure, etc.).
Both exercises help you understand how the megatrends you
Take Pursuit of Value, for example. Consumers are reducing
selected will evolve over time.
waste or trading down, which converges with Sustainable Living
and Shopper Reinvented, among other megatrends. On the flip Begin to pinpoint specific consumer needs per megatrend that
side, their search for lower-priced options and bargains can also you can explore and look for relevant campaigns or case studies
counter Premiumisation. to see how each is materialising in the market. This insight can
direct your decisions and commercial roadmap.
Keep your customer top of mind. The ones you focus on should
align with their evolving needs but also your product portfolio
and market dynamics. Here’s a template to help guide your
selection process.
After you nail down your top ones, it’s time to prioritise. No
single organisation—no matter how global or diversified—can
address more than three or four of these at once. Megatrends
are powerful forces. Concentrate on the few that best appeal
to your brand, so your product development, acquisition and
marketing plans are positioned for success.

3. Build Your Innovation Pipeline
Once you have a clear vision of growth potential, divide

opportunities into immediate and long-term timelines.
Put into motion the initiatives that your existing portfolio

and capabilities can capitalise on with limited investment.
And start planning for those long-term activations, which
require further exploration but will help futureproof your
brand.
4. Review and Evolve
Consumer behaviour and priorities change with the world

around us, and your business strategy needs to do the
same.
Don’t make this a one-time process. These developments

shift over time as new milestones, technologies or events
alter our habits. You’ll be better equipped to compete and
innovate for your customer base if you pay close attention
to and act on relevant megatrends.

About the Author Contributors
CONVENIENCE Joao Garcia — Consulting Manager
ALISON ANGUS DIGITAL LIVING Tim Chuah — Head of Consumer Appliances

Head of Practice, Innovation Research
Connect on Linkedin
DIVERSITY AND INCLUSION Jana Rude — Consumer Insights
Manager
EXPERIENCE MORE Caroline Bremner — Senior Head of Travel

Research
Alison Angus leads Euromonitor’s research on corporate innovation
PERSONALISATION Matthew Oster —Senior Head of Consumer
strategies and new product launches as well as understanding
Health Research
consumer behaviour, attitudes and shifting trends driving
innovation. PREMIUMISATION Alison Angus — Head of Practice,
Innovation
Alison has worked in research for more than 20 years across
consumer and service industries globally. She brings extensive PURSUIT OF VALUE An Hodgson — Head of Practice, Consumers
knowledge and expertise on research and analysis, producing
SHOPPER REINVENTED Michelle Evans —Global Lead, Retail and
compelling consumer-focused strategic content and working with
Digital Consumer Research
clients to inform and support strategic thinking.
SUSTAINABLE LIVING Maria Coronado Robles — Head of Practice,
Sustainability
WELLNESS Irina Barbalova — Global Lead, Health and Beauty

Research
Appendix
Megatrend Methodology Voice of the Consumer: Digital Survey
Euromonitor International conducted a rigorous research process Euromonitor International’s annual consumer tracking survey
to identify the megatrends that are expected to have significant explores consumer behaviours and attitudes across topics like
influence on businesses in the coming years. Quantitative data and the customer experience, device ownership and activities, digital
qualitative insights were analysed to define the five socioeconomic wallets and payments and emerging technologies.
drivers that serve as a framework. A diverse set of online panellists in 20 developed and emerging
Extensive inputs from our global network of research experts, countries were invited to participate between March and April
2022. 1,000 responses were captured in each market. Panellists
market intelligence database, consumer surveys and analytics tools
were pre-screened to ensure that the sample matched each
were collected to compile the initial set of potential megatrends.
country’s population according to nested quotas for age (from 15
Our experts then reviewed each against a set of criteria and
to 74) and gender.
assigned a score for significance across countries and industries.
Scores were calculated for those that met the criteria to form our
megatrends with the highest global and cross-industry impact.

Appendix
Voice of the Consumer: Health and Nutrition Survey Voice of the Consumer: Lifestyles Survey
Euromonitor International’s annual consumer tracking Euromonitor International’s annual consumer tracking survey
survey explores health and nutrition behaviours, perceptions, explores all areas of consumer life, from eating habits to home
expectations and attitudes. A diverse set of online panellists activities to online shopping to outlook for the future. A diverse
in 20 developed and emerging countries were invited to set of online panellists in 40 developed and emerging countries
participate between January and February 2022. 1,000 were invited to participate between January and February 2023.
responses were captured in each market. Panellists were pre- 1,000 responses were captured in each market. Panellists were
screened to ensure that the sample matched each country’s pre-screened to ensure that the sample matched each country’s
population according to nested quotas for age (from 15 to 74) population according to nested quotas for age (from 15 to 74)
and gender. and gender.

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Strategy with Megatrends

You’ll find answers and opportunities

Passport is your go-to resource

See what’s possible

Search for products,

Drill down to spot

1 Why Megatrends Matter 33 How to Use Megatrends for Strategic

Digital Living 36 Contributors

Diversity and Inclusion

© 2023 Euromonitor International v

Transformational, powerful, global. That’s the

For starters, megatrends are long-term,

Megatrends often transcend economic

© 2023 Euromonitor International 1

But these aren’t overnight developments. Socioeconomic, technological

© 2023 Euromonitor International 2

Digital Living Pursuit of Value

Diversity and Inclusion Shopper Reinvented

Experience More Sustainable Living

Efficiency, immediacy and simplicity are at the

Note: Percentage of consumers.

© 2023 Euromonitor International 4

FOCUS AREAS FOR INNOVATION

Shoppers continue to weigh benefit against price. You

Subscriptions are an exemplar of this megatrend due to the set-

© 2023 Euromonitor International 5

The right tools

Investing in the right technology to enable virtual experiences,

Access and availability

© 2023 Euromonitor International 6

Technology will only become further ingrained

© 2023 Euromonitor International 7

FOCUS AREAS FOR INNOVATION

You’ll want to accommodate consumers that are accustomed

© 2023 Euromonitor International 8

Plus, connected devices like appliances give people greater

© 2023 Euromonitor International 9

Diversity and Inclusion

Purchase decisions are no longer solely based

Consumers expect brands to take action

© 2023 Euromonitor International 10

FOCUS AREAS FOR INNOVATION

But this is no simple feat; it requires investment and dedication.

Activism will only continue to rise, especially when it comes to

© 2023 Euromonitor International 11

Outreach and advocacy

And tap into your workforce. Idea sharing should be

© 2023 Euromonitor International 12

You need to connect with your customers

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FOCUS AREAS FOR INNOVATION

Community and collaboration

© 2023 Euromonitor International 14

Fun and functional

You want to leave a lasting (positive) impression. The goal is to

Gaming company Topebox built and co-designed the

© 2023 Euromonitor International 15

© 2023 Euromonitor International 16

Education and efficacy Get ahead or get left behind

© 2023 Euromonitor International 17

See why over

Consumers will spend money on the things