The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
As consumers become more demanding and experimental, they are seeking products that meet not only their core expectations but go further to deliver benefits that are unexpected yet still highly valued. This is challenging manufacturers to push innovation boundaries and create products that satisfy a number of needs at once. The intensity of competition across fast-moving consumer goods categories makes this differentiation even more critical.
Sensory & Indulgence one of the eight mega-trends that GlobalData covers as part of our TrendSights series of consumer insight studies. This analysis covers a particularly noteworthy and fast-evolving theme within this mega-trend - the drive among manufacturers to develop products with enhanced benefits in order to differentiate themselves, create additional value, improve premium credentials, and satisfy novelty-seekers.
- The desire for new and interesting consumption experiences is most evident in the pleasure-oriented category of chocolates, confectionery, and desserts, where over a quarter of global consumers often experiment with different product varieties.
- Natural formulations - and their broader health implications - play a key role in consumers’ assessments of product quality, which must be acknowledged by manufacturers seeking to elevate products to extraordinary status.
- Almost a third of global consumers equate environmentally friendly or sustainable personal care products with higher quality. The challenge for manufacturers is to determine how environmental benefits can be positioned to make a product not only more virtuous but more exceptional.
Reasons To Buy
- Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.
- Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
- Access valuable strategic take-outs to help direct future decision-making and inform new product development.