Consumer

WHAT'S NEXT?: Technology will become the new sales assistant, always on, always friendly, always delivering. Consumers will co-create and create products to their exact needs. Brands will have to focus on seizing mobile moments on apps that already have consumer's attention. Instantly explore below how lifestyles, buying behaviors and attitudes are changing and where you fall short in the battle to win consumers hearts and minds.

• [New] Over the last decade, the Asian market has become an increasingly important region for the wine industry, with China expected to overtake France as the world's second largest wine consumer by 2023.
• [New] While developing markets will continue to account for 70% of consumer goods growth, the mix of geographies has shifted, with emerging Asia generating far more growth than other developing markets (representing about half of global private consumption growth over the next 10 years).
• [New] Global consumer spending in 2020 on smart home related devices will drop to $44 billion in 2020, from $52 billion in 2019, due to the economic downturn driven by widespread business slowdowns caused by Covid-19.
• [New] Most agreed the strong influence on the market exerted by the Paris Agreement on climate change could cause the share of electric mobility to rise to up to 30% of global automotive production by 2023.
• [New] India is expected to become the third largest car market in the world by 2021, due in large part to its production goals on the supply side, coupled with rapid rises in the workforce and urbanization, which drive mobility needs on the demand side.
• [New] The global consumer drones market is expected decline from $2.47 billion in 2019 to $2.33 billion in 2020 at a compound annual growth rate of -5.60%.
• [New] The global market for Mobility as a Service is forecasted to grow at CAGR 38.9% to register a value of USD 484.20 Billion in 2024.
• If the world embraces AVs without a shift to shared mobility, traffic could increase by 15 or 20%, and if AVs are not electric, CO 2 emissions would increase.
• One of the most obvious use cases for the Future of AR technologies is indoor navigation, and 2020 is expected to be the year that the average consumer gets their first real taste of its potential.
• The global economy is forecast to expand by 5% in 2021 due to the easing of containment measures and a gradual recovery in consumer and business confidence.
• With automotive manufacturers such as Nissan planning to sell at least 1 million electric vehicles annually by 2022, and Audi set to reach 800,000 by 2025, it is clear that the electrification of vehicles is gathering momentum in the mobility sector.
• If Australia is hit by a significant second wave of coronavirus cases, that would postpone the economic recovery that many economists expect in the second half of 2020, unemployment would rise even further and consumer and business confidence would take a significant hit.
• UK consumer spending remains weak in several areas and growth could falter later in the year as job losses begin to mount.
• Denmark's consumer price inflation is forecast to slow to 0.3% y-o-y in 2020, in part driven by a sharp fall in energy prices in the first half of 2020.
• Led by countries such as Australia, India, and South Korea, the Enterprise Mobility market in Asia-Pacific is forecast to reach US$ 129.9 Billion by the year 2027, while Latin America will expand at a 18% CAGR through the analysis period.
• Tax revenues are expected to further decline in FY2020 - 2021 due to the reduction in a number of taxes to stimulate economic activity, support tourism, restore consumer and business confidence and revive domestic demand.
• The Reduced Innovation Case would translate into a decrease in automotive battery demand in 2040 compared to the Sustainable Development Scenario equivalent to ten times the demand required for mobility in 2019.
• Similar to e-mobility, demand for shared mobility is expected to increase in the next decade, largely driven by three use cases.
• By 2030, Africa will have 1.7 billion people and a combined consumer and business spending of 6.7 trillion U.S. dollars.
• India's transport sector can save 1.7 gigatons of cumulative carbon dioxide emissions and avoid about 600 million tons of oil equivalent in fuel demand by 2030 through shared, electric, and connected passenger mobility and cost-effective, clean, and optimized freight transport.
• The next 20 years will bring significant changes as electrification, shared mobility, vehicle connectivity and, eventually, autonomous vehicles reshape automotive and freight markets around the world.
• The United States can deliver 90% clean, carbon-free electricity nationwide by 2035, dependably, at no extra cost to consumer bills and without the need for new fossil fuel plants.
• Concerning the growth of consumer eSIM-enabled devices over a five year period (2019-2024), smartphones will continue to have a larger share of the market at about 31% followed by wearables and laptops.

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Last updated: 06 August 2020