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Megatrends in Australia

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  • 58 Pages
  • August 2022
  • Region: Australia
  • Euromonitor International
  • ID: 5450314
This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of the publisher's eight focus megatrends and insights as to how each trend has manifested in Australia.

The 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.

Table of Contents

  • 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