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Consumer lifestyle trend 2018- Impact on fashion and product

Consumer lifestyle trend 2018- Impact on fashion and product

We at F-trend bring the key global consumer trend that is shaping up the 2018 consumer's attitude and the opportunity to brands based on the psychological changes caused by these behavioral shifts. These key trends are relevant to Europe, US, UK, Aisa Pacific region, China, and India

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Here are the top ten Key attributes of the 2018 consumer's lifestyle trend and its impact on fashion and product.

1- Globe Traveller

The Millennials are love to explore the world, the new trend developing among consumers are they are now devoting their life to explore the globe via investing all their earned money. This trend has been developing for past few years now it's reaching the peak point. There is the huge shift in the profit of the Travel-leisure companies 

According to the survey if travel time could be replaced by another activity most of the respondent felt to give time for their rest/leisure and learning the new hobby skill were the top priorities, also they love to swipe fingers for online shopping.

2- Rebels

The rise of cultural internationalization has started the new global trend where Millennials are breaking the social cliche, be it based on religion, gender. They abide by their own codes of trans-culture and transgender. For such changes, creative industry has come forward to bring changes in fashion as we have witnessed on Ramp during the fashion show of New York AW17

The millennials being impatient are joining the movement to solve the societal problems through self-efforts as they have lost the faith in government. Some of them have decided to take the challenge as the agent of change. 

This phenomenon is not limited to only political movement, youth are now also breaking the stereotype in the fashion where they are now more concerned about the individual style conscious rather than following the styles of Luxury brands. According to the reports, 70% consumers prefer the subtle brand label as well they have forcing luxury brands to come up the price that product deserves. 

3- Power Women

The trend sparked in 2017 at the runway and on street brought by the designers to make women look powerful through styling is the outcome of the social changes where women look for equal opportunity in the workplace as well as maintaining equilibrium being women. The term feminist has caught the women's sentiment, women now feel as authoritative as men that is why huge demand surges in women suits surges as well as the new broad shoulder trend.

the women in this new generation are seeking personal and professional satisfaction. Sometimes – in fact, often – they combine the two, forgoing a filter. They do their own thing. Their objectives are not exclusively material: making a tonne of money is no longer a valid goal in and of itself.

4-Digital Pressure

In the UK, studies by Ofcom and the University of Sheffield have shown that the time spent online by kids aged 8-15 has doubled in the past decade and that spending just one hour each day on social media reduces happiness indexes by 14%.

These emerging pressures around online bullying, body image (filters and functions like Samsung’s Selfie Mode have become the norm) and academic stress are contributing greatly to an 18% global growth in depression over the past decade, according to the World Health Organization (WHO). By way of response, we’re seeing more mental health and well-being charities—like the UK’s YoungMinds—focused on the needs of today’s youth.

Pan-European studies reveal the economic, digital and emotional pressures facing today’s youth, demanding a response from consumer-facing brands. Whilst according to Eurostat, youth unemployment across the EU-28 has fallen from 23.9% in March 2013 to 16.9% in July 2017, these rates remain double the rates for the general population and we’re starting to see automation encroach on youth employment prospects.

Teens are increasingly defined by anxieties around image, health, and work, and are looking for brands to alleviate the pressure and help them build both their confidence and prospects.

There is a growing understanding of the digital pressures facing young people and how parents are adding to these problems.

5-Sober Generation

Binge-drinking has been endemic in student culture for decades, despite endless health warnings and much hand-wringing by the grown-ups but millennials have changed the perception, it's more to be getting fit and healthy.

The number of under-25s opting for total abstinence from drink has leaped by 40 percent in just eight years as young people overtake the elderly as the soberest generation.

“People exercise more and are more into being healthy, There’s so much emphasis on the idea that we need to get jobs so people probably think of studying as a bigger thing than it used to be.”

6-Artificial Intelligence and Machine Learning

Merger and Acquisition deals till 2017-ET
Merger and Acquisition deals till 2017-ET

The AI and Machine learning are now gradually becoming part of life since, after the companies like Apple, Google, Microsoft and Now Samsung jumped into the Virtual assistance war.  The Tesla's new self-driving car and Google is an equally innovating self-driving car. While virtual assistants such as Alexa and Google Home assisting to remind users calendar, setting up alarm and waking up as well as helping to find the information from the web through voice command are ready to serve.  

7-Entrepreneurial mindset.

The Millennials want to be the free-spirit, this is the reason the new global phenomena of being own boss is emerging gradually. The freelance sites such as freelancers.com, Upwork, and Fiverr has captured this trend and seeing the growth in their userbase year over year.

The trend is not just limited to work as the freelancer but many youths are looking to learn the new skill and start own firm. People are now looking to earn and learn through flexible ways. According to recent surveys for the Asian region, 80% Chinese youths are looking to start own company within 10 years of graduation.

80% Chinese youths are looking to start own company within 10 years of graduation.

 

8- Visualization - Playful animations

The future of communication is shaping now in the form of visual texts, animated images, short 3-7 second videos. As we are moving from 4G to 5G internet technology as well as augmented reality and virtual reality are gradually becoming the reality the method of communication is changing. It is now must for brands to start working on communicating their brand through these channels.

9- Hyper-Nationalism

With the Modi's big win in 2014 Indian general election and the rise of local Ayurvedic brand Patanjali in 2016 and 2017, we have witnessed hyper Nationalism or ultra-Nationalism as the key polarizing term attracting Indian youth. Though this trend is not limited to India America, Europe, and many other Asian countries. Meanwhile, Chinese nationalism has become so angry and vengeful that the party struggles to control it. True, the country depends upon open markets, embraces some global institutions and wants to be close to America.

In India, prime minister Narendra Modi leads a Hindu nationalist movement that simultaneously seeks to modernize India while appealing to Hindu pride in a glorious (and sometimes mythologized) past.

Indians are increasingly defined by Ultra-Nationalist or the anti-nationalist, where more than the 60 percent people are youth fall for nationalism as the key driving force. 

Brexit and the election of Donald Trump to spark a real conversation about the global rise in ultra-nationalism. Western European and North American journalists, intellectuals and academics are just now getting to grips with the magnitude of this trend.

10-Mindful consumer

The pollution and the rise of social awareness by leaders have awakened the youth for the healthy lifestyle and mental peace. Celebrities spotted in pure white yoga suits, the rise of Gym wear and the opening of the Juice parlors at the street is the new trend. 

11- Social Stress

Higher levels of social stress are driving China’s youngest generations to demand more informal and playful interactions in both the virtual and physical world.

Growing up in an environment that is obsessed with academic and social success, China’s younger generations, especially those who will soon graduate and enter the workforce, are concerned about their future and whether they can perform according to the high expectations of their surroundings. While consumers are striving to express and act upon their personal beliefs, the pressures of a collectivist culture continue to make young people conscious of their own behavior.