Euromonitor report: Consumers will evolve past being frugal this year. Consumers will buy more secondhand items and work around supply-chain issues. The company’s annual trend report forecasts what consumers will value in the coming year and how companies should adapt to those behaviors.

The fast-spreading Omicron variant has slowed down recovery efforts across industries and among consumers. Euromonitor traditionally begins the forecasting process around July. “We see the middle class resetting and thinking about their spending, but we see that way beyond—everybody’s being a lot more frugal,” said Alison Angus.

Companies need to adapt to these individuals by offering alternatives to items, said Ms. Angus. Virtual queue systems present an opportunity for shoppers to get a place in line and hope they receive a product. Offering rental or refurbished products is another chance to keep that customer’s loyalty.

In 2022, younger consumers will have more of an impact on their peers, parents and grandparents. People are looking to cut back on food waste, reduce their plastic use and recycle more. The pandemic forced many people to adjust their behaviors, such as shopping for groceries online for the first time.
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