Lifestyles

WHAT'S NEXT?: Digital lifestyles are on the rise around the world and AR and VR will likely see us all using wearables, head-mounted displays and smartphones in almost everything we do. And, most of us will be living in cities too with full amenities close by.

• [New] Shopping trends are clearly shifting and UK consumers are increasingly shunning the high-street in favour of online platforms, which offer the immediacy expected; 48% of UK consumers intend to increase their use of digital shopping channels.
• [New] Services such as the Loop are piggybacking on the growth of online food shopping in UK, where sales are expected to increase by 45% between now and 2024 to create a £16.7bn market.
• [New] In the retail sector roughly 93 percent of UK internet users are expected to do online shopping by 2021, the highest online shopping penetration rate in Europe.
• Demand for high vitamins and proteins with low calories; increasing need for on-the-go snacks; and hectic consumer lifestyles will drive growth in healthy snack consumption at a compound annual growth rate of 5.2% through 2025.
• The CSP-TES cost values follow linear interpolations between the 2016 cost value, the current value of 10.3 ¢ / kWh in 2022 (the year in which current bids could begin operations), and the 2030 cost target.
• By 2024, the World Health Organization will identify online shopping as an addictive disorder, as millions abuse digital commerce and encounter financial stress.
• Australian supermarkets could have checkout-free shopping in 10 years as innovation in retail technology and an increasing focus on costs quickly make the traditional purchasing experience redundant.
• By 2023, individual activities will be tracked digitally by an Internet of Behavior to influence, benefit and service eligibility for 40% of people worldwide.
• New innovations will continue to emerge in 2019, as retailers and suppliers deliver targeted marketing and new ways to make online shopping more social.
• Though consumers have historically done more holiday shopping in stores than online, this year, it's changing: For the first time, shoppers will spend more time online (54 percent) than in stores (46 percent).
• By 2021 roughly 93% of UK internet users are expected to do online shopping, the highest online shopping penetration rate in Europe, with Germany, France, Spain, and Italy closely following suit.
• Data scientists are going to be in high demand for 2019, as companies continue to place an increasing emphasis on harnessing the full potential of their data, diving deep into customer behavior and industry trends.
• The trend of giving and receiving gift cards is expected to continue as online shopping and digital gift cards become even more popular.
• Gartner predicts that by 2023, over 75% of large organizations will hire AI behavior forensic, privacy, and customer trust specialists to reduce brand and reputation risk.
• Considering that China will make up almost two-thirds of global growth in luxury spending by 2025 - is seeing luxury shopping repatriated to domestic points of sale, brands' physical retail strategies will increasingly focus on influencer cities.
• Eager to travel abroad and engage in healthy lifestyles, women are leading the wellness consumption trends in China: In 2019, 59 percent of outbound tourists are expected to be female, with 14 percent more in spending compared to their male counterparts.
• Retailers have fretted that another round of import of tariffs in mid-December could slow consumer spending this year, which has helped support the U.S. economic engine against global growth headwinds.
• Retailers should be pleased with projections for this year's holiday shopping season, especially online-Deloitte' s annual analysis predicts a 14% to 18% percent jump over last year, with total ecommerce sales rising to $144 billion.
• Owing to the increasing per capita disposable incomes, busy lifestyles, and growing demand for on-the-go beverages, the global RTD tea market size is projected to grow significantly in the coming years.
• When global e-commerce sales are expected to break £2.2 trillion in 2019 and 51% of UK consumers prefer online shopping over going to physical storefronts, it's a given that more vape retailers will offer their products over the internet this year.
• A 2017 study from Nasdaq on e-commerce and online shopping showed that around 22% of the world's population purchases online, and that by 2040, e-commerce will account for 95% of all purchases.
• In the coming years, a sustainable transformation of consumption and lifestyles will depend on the fundamental changes in world public opinion towards a new paradigm of ecological systems (including the economic, social, environmental and ethical dimensions).
• Last year, BNEF forecasted that China's EV sales growth in 2019-2020 would be slower than in 2017-18, as automakers' costs take time to catch up with the subsidy cut and consumer behavior adjusts.

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Last updated: 20 February 2020