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Megatrends in Australia

Megatrends in Australia

This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s eight focus megatrends and insights as to how each trend has manifested in Australia.

Euromonitor's Megatrends in Australia report analyses factors influencing national consumer expenditure. Consumer lifestyles reports include coverage of: population, urban development, home ownership, household profiles, labour, income, consumer and family expenditure, health, education, eating habits, drinking habits, shopping habits, personal grooming, clothing, leisure habits, savings and investments, media, communication, transport and travel and tourism. Use this report to understand the factors influencing a nation's lifestyle choices.

Data coverage:market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?
* Get a detailed picture of the Megatrends market;
* Pinpoint growth sectors and identify factors driving change;
* Understand the competitive environment, the market’s major players and leading brands;
* Use five-year forecasts to assess how the market is predicted to develop.


Scope
The drivers shaping consumer behaviour
Megatrends framework
Businesses harness megatrends to renovate, innovate and disrupt
Digital living
Woolworths launches a new QR code payment system
Virtual assistant devices are more popular among Australians compared to global peers
Nearly half of Australians actively manage their privacy settings and data sharing online
Baby boomers are the most concerned about targeted ads
Recommendations of friends and family remain the most trusted source of information
While returning to in-person events after the pandemic, online activities remain important
Experience more
Aesop’s Sensorium offers clients a new fragrance exploration experience
Most Australians prefer real world experiences and are keen to explore other cultures
In-person socialising getting back to normal, but online get-togethers remain popular
Safe travel destination remains a key feature for Australians
Millennials less inclined to shift to online platforms in future
Middle class reset
IKEA launches online shopping platform “As is” for second-hand items
Baby boomers are the biggest bargain hunters and more willing to repair old items
Australians are keen to buy and sell used or second-hand items
Generation Z and millennials are most eager to buy second-hand items and seek discounts
Premiumisation
Australian Agave NFT offers new possibilities for spirits premiumisation
Millennials are the most individualistic cohort who seek curated experiences
Millennials have the most faith in the long-term value of their investments
High quality is the most desired feature for nearly a quarter of Australian consumers
Shifting market frontiers
InvertiGro partners with Woolworths Metro to launch Australia’s first in-store vertical farm
All generations in agreement on the importance of experiencing other cultures
Baby boomers are the most focused on supporting local business
Shopping reinvented
Priceline Pharmacy improves access to pharmacists, offering a new shopping experience
Tickets and travel purchased online, with all other categories mostly bought in-store
Australians are less likely to engage with brands on social media compared to global peers
Generation Z and millennials are the most likely to interact with brands online
Sustainable living
Unilever and Coles introduce refill stations for laundry detergents
60% of Australians are trying to have a positive impact on the planet
Recycling is the top environmental priority for Australian consumers
Australians will boycott brands/companies that do not share their beliefs, on par with global
Recyclable packaging is seen as the most sustainable
Wellness
Dan Murphy’s opens an alcohol-free bar in Melbourne
Two thirds of Australians exercise regularly with millennials leading the way
Meditation is considered by many Australians as the best stress reduction activity
Millennials are the most frequent users of health-related technologies
Health and safety precautions remain a priority even after the pandemic

Report Title: Megatrends in Australia


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