Global Consumer Trends: Lifestage Complexity

Introduction

The Lifestage Complexity mega-trend reflects the concept that consumers are making their way through life in a less predictable, clear cut fashion. Lifestage events such as leaving home, beginning work, getting married, having children are now longer a given, with consumers increasingly breaking from the traditional order associated with these.

Scope

*Detailed trend analysis outlining what constitutes 'value' for consumers (trends are, after all, a reflection of what's important to consumers)

*Global in focus, but also offers country-by-country and sector insights thereby catering to top-line or more specific information needs

*Covers all major FMCG sectors, but also with applicability to wider consumer goods audiences

*One of 10 dedicated mega-trend reports outlining the most important issues shaping global consumers' buying behavior both now and in the future

Highlights

Ideas of what constitutes the typical family are having to change. Units are becoming smaller and more varied in structure. With this comes a diversification of consumer needs, given the wider range of scenarios and household dynamics at work. Consequently, the diversity of family models needs to be reflected in marketing

The 'natural order' of lifestages has been challenged by consumers who aim to satisfy their own individual wants rather than adhering to the status quo. They feel that the traditional progression through life rushes decisions, and consequently they are delaying some lifestages to focus on their particular needs rather than societal conventions

Consumers are living longer, bringing about a fundamental shift in the Senior lifestage. Seniors are no longer a monolithic group, now characterized by a wide range of circumstances and needs. Changes such as delayed retirement and ""boomeranging"" adult children are fundamental in changing attitudes and consumption behaviors

Reasons to Purchase

*Understand the significance of the different age-aligned trends across territories and FMCG sectors to help support market diversification plans

*Save time and gain maximal insight by using this 'one-stop-shop' resource which offers a clear and up-to-date framework for understanding consumers

*Access data from two waves of global primary research to increase the likelihood of being 'on-trend' with NPD and marketing activities

Report Highlights

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Overview 1
Catalyst 1
Summary 1
Table of Contents 2
Table of figures 3
INTRODUCTION: THE IMPORTANCE OF TREND-TRACKING 4
Tracking consumer mega-trends is fundamental to long-term success 4
Trend-tracking insight 1: mega-trends can be classified in two ways according to desirable benefits and societal complexities 5
Trend-tracking insight 2: trends are aligned with pre-existing, but evolving human values, attitudes, needs and behaviors 6
Trend-tracking insight 3: mega-trends can be broken down into trends and sub-trends highlighting that trend frameworks provide structure and clarity at a time of 'information overload' 7
Trend-tracking insight 4: manufacturers, retailers and researchers/futurologists perpetuate trends 11
Trend-tracking insight 5: adopting a broader, global perspective to trend-tracking facilitates better decision making by overcoming 'category myopia' 13
Trend-tracking insight 6: trends have longer-term implications than fads and can be categorized by evolvement 14
Trend-tracking insight 7: for every trend there is a 'counter-trend' while 'trend-crossover' is also and important phenomena 16
Takeouts and implications: a trend framework boosts the quality and frequency of insight generation ensuring maximum return from the broader market research processes in place 17
THE FUTURE DECODED: DECIPERING THE LIFESTAGE COMPLEXITY MEGA-TREND 19
MEGA-TREND SYNOPSIS: Consumers' lifestages are becoming less clear cut and predictable 19
TREND: Modern household structures continue to diversify away from traditional models 21
SUB-TREND: Average household sizes have declined as the nuclear family concept fragments 22
Key takeouts and implications: the fragmentation of traditional concepts of the household opens up new opportunities for marketers 28
SUB-TREND: Multi-generational living persists as a countertrend to shrinking household sizes 29
Key takeouts and implications: multi-generational families show the continuing importance of traditional household structures and pragmatism in responding to the social and economic challenges of modern life 31
SUB-TREND: Empty nesters are growing in number 31
Key takeouts and implications: Marketers can help new Empty Nesters make the transition from active parenting to new independence 33
SUB-TREND: Boomerang children / home-bounding children are becoming more common 34
European Mid-Lifers in particular support the idea of remaining in the family home until your late-20s 36
Boomerang behavior among the young is widely accepted in the Americas, based on traditional social values surrounding family and practical reality in today's society 38
Strong familial bonds in Asia Pacific enable consumers to be dependent on their parents for longer 38
Key takeouts and implications: Boomeranging behavior among the young can have positive connotations but reflects current challenges in establishing independence early in life 39
TREND: Consumers' priorities as they move through life are changing and diversifying 40
SUB-TREND: Consumers are delaying the responsibility of marriage and children 42
Key takeouts and implications: consumers are reprioritizing their lifestages, pushing back on getting married and having children 44
SUB-TREND: Career paths are becoming more complex 45
Key takeouts and implications: few consumers have the desire to work in the same job uninterrupted throughout their whole lives 46
TREND: The Seniors lifestage is extending and encompassing a wider range of scenarios 47
SUB-TREND: Populations are aging and life expectancies expanding 48
Key takeouts and implications: the aging of the population is a long-term trend that will continue long into the future 53
SUB-TREND: The senior lifestage is characterized by a wider range of attitudes and circumstances 53
Key takeouts and implications: Senior consumers are becoming more technologically and culturally savvy, and are particularly reluctant to think of themselves as 'old' 56
SUB-TREND: Delayed and phased retirement will rise 56
Key takeouts and implications: consumers are working until they are older in order to support themselves later in life 59
APPENDIX 61
Definitions 61
Methodology 61
Further reading and references 62
Ask the analyst 63
Datamonitor consulting 63
Disclaimer 63
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List of Tables
List of Figures
Figure 1: Datamonitor's mega-trends are having a long-term and substantive impact on the marketing landscape and can be grouped into two categories 6
Figure 2: Consumer behavior and the innovations targeting it inevitably fit into a 'trend hierarchy' 7
Figure 3: Trend tracking can be a source of (comparative) competitive analysis 9
Figure 4: Datamonitor's mega-trend framework helps set the agenda for the specific topics covered in the New Consumer Insight (NCI) research stream 10
Figure 5: Trend development is dictated by both 'consumer pull' and 'manufacturer push' and Datamonitor offers the intelligence tools to capitalize on this reaity 12
Figure 6: In a consumerist global culture, the broad consumption spheres/segments transcend borders 14
Figure 7: Several factors distinguish a trend from a fad 16
Figure 8: Consumers are not necessarily living their lives in the same way as those from previous generations 20
Figure 9: Lifestage complexity is brought about by a number of conflicting drivers and inhibitors 21
Figure 10: Household structures are changing as illustrated by the decline of the nuclear household 22
Figure 11: The expanded family status lifecycle model reflects the trend of complexing lifestages and drives the diversification of modern households 22
Figure 12: The average number of occupants per household around the world is flat or showing gradual decline over time 26
Figure 13: The growth of single person households is expected to decrease slightly in Europe in the lead up to 2014 as people look for the most cost-effective forms of dwelling 27
Figure 14: Economic circumstances are slowing the growth in single person households in the Americas, particularly in the US 27
Figure 15: Growth in the percentage of single person households is most apparent in China and Korea within Asia Pacific as consumers seek enhanced independence 27
Figure 16: The cultural dominance and practicality of multi-generational living means only a small percentage of households in Saudi Arabia and the UAE are single person households 28
Figure 17: Numerous factors both economic and social have resulted in an increase in the number of multi-generational households worldwide 30
Figure 18: The Swedish have the lowest toleration for consumers in their late 20s living in the parental home 37
Figure 19: Consumers of all ages in the Americas have comparably favorable views of children remaining in the family home until their late-20s 38
Figure 20: Asian family-oriented culture influences the positive views towards twenty-somethings living at home 39
Figure 21: Consumers are changing their priorities and therefore altering how their lifestages play out 41
Figure 22: In the US, marriage rates are continually decreasing, which also has a knock-on effect on divorce rates 43
Figure 23: Websites are dedicated to providing consumers interested in career breaks with a wealth of information and recommendations about the decision 46
Figure 24: There are a number of social implications that are occurring within the Senior lifestage category 48
Figure 25: Seniors are making up an increasing proportion of the global population 50
Figure 26: Life expectancy is particularly high in Europe but growing fastest in Asia Pacific 51
Figure 27: The aging population means that the prevalence of age-related conditions such as osteoporosis is set to rise 52
Figure 28: Much is being made of society getting older 52
Figure 29: The Baby Boomer generation are generally embracing technology and seek enjoyment out of life 55
Figure 30: Rising retirement ages is bucking a strong historical trend 59
Figure 31: There are differences between consumer values and attitudes 61
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