Megatrend

A Megatrend is a long-term driving force that is observable now and will continue to have a global impact in years to come

Increasing consumer demand for goods and services is driven by factors such as population growth, rising incomes and changing lifestyles, but it brings sustainability challenges. By 2030, the global middle class, also termed the consumer class, is expected to reach 4.8 billion people - that is 1.3 billion more people with increased purchasing power than today. The rise of the middle class in emerging economies and the increase in business models targeting people at the ‘bottom of the income pyramid’, are collectively making consumption patterns an increasingly important force shaping global production systems, evident in various sectors (e.g. retail and entertainment).

Consumers are seeking convenience, personalization and unique experiences, leading to a surge in online shopping, subscription services and experiential offerings. Behaviour and choices matter and are changing, with trends towards sustainability, wellbeing and civic brands. Efforts to promote conscious consumption, such as minimalism and sufficiency, ethical sourcing, and eco-friendly products are gaining traction. Balancing consumption with sustainability and responsible choices is becoming increasingly important. 

This Megatrend is part of the Megatrends Hub