Consumer Trends (Cont’d from Page 11)
Industry Events
dominant trend that characterizes lifestyle shifts in the short term. Activities and products that positively impact mental and physical health, such as adopting pets or having the ability to travel while working remotely, are influencing purchase decisions. Job markets across the globe are experiencing un- precedented turnover. Certain consumers chose or needed to leave the workforce, especially caregiv- ers, prompting LinkedIn to add new job titles like “stay-at-home parent” to accurately convey these roles. Workers are navigating government benefits, health risks and their return to normal as well as broader personal values. Employees are looking for careers that accommodate their life outside of the office. Companies implemented Workplaces in New Spaces and realized productivity levels were sus- tained, which permanently shifted how, when and where work can be done. Mental wellbeing is also a part of The Great Life Refresh. Downloads of mindfulness apps like Calm and Headspace surged to help reprieve anx- iety. Pet adoptions skyrocketed, and global pet care sales growth doubled from 2019 as more consumers looked for companionship. Businesses need to accommodate consumer needs, wherever they are in life. Consumers will continue to navigate the turbu- lence of the pandemic. Companies catering to The Great Life Refresh stand to be seen as partners, helping consumers adapt to a new way of life. Busi- nesses should tailor marketing to acknowledge and support consumers’ decisions to take action. Reverting to a pre-pandemic playbook might not have the same effect moving forward. Consumers will prefer brands that match the moment. Compa- nies need to offer policies and products that pro- vide value and support personal growth to drive loyalty. Final Trends The final five consumer trends — The Metaverse Movement, Pursuit Of Preloved, Rural Urbanites, Self-Love Seekers, and The Socialization Paradox — will be investigated in the next issue of Flexo Market News . Vaibhav Global Acquires Stake In Encase Packaging Indian retailer Vaibhav Global (VGL) has agreed to acquire a majority stake in packaging company Encase Packaging Private.
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Flexo Market News January 31, 2022 13
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