The New Consumer and Coefficient Capital recently teamed up to publish their inaugural consumer trends report. It is a look at what changed this year and what might actually endure as we get past all of this.
Some of it is perhaps intuitive once you see it. Makeup consumption is, for example, way down and home scent sales are way up. See above chart.
And some of it I disagree with. Their survey results suggest that 81% of Millennials (and 66% of all consumers) are now perfectly content working out at home, as opposed to going to a gym. I am firmly in the 19% here. Get me back to the gym.
But what is clear is that this year has accelerated a number of consumer trends that were already underway and so there are likely to be some structural changes as we move forward.
To read the entire report, click here.
Chart: Consumer Trends 2021