There are a number of interesting consumer trends emerging of which entrepreneurs and business buyers should take note. Opportunities abound for the right business people to respond to these trends with innovative products and services.
It’s hard to ignore the increasing presence of voice activated systems in our homes, with children’s first words all over the country being “Alexa.” Ok, so maybe we’re not QUITE there yet, but we are all becoming used to these tools around the home. Incorporating AI into our everyday lives is becoming the norm and those with an eye on consumer trends will already be investing in this area.
Gardening – indoors
Gardening is quickly becoming one of the favourite pastimes of the young. Instagram is filled with pictures of flowers and plants and the renting generation are finding solace in their tiny yards and window boxes. The emergence of technology developed to help people cultivate plants indoors has also helped to transform the market for those without outdoor space or those living in very urban environments.
Socialising without booze
I know, it seems crazy, but it’s happening! People are increasingly socialising without the aid of alcohol and the leisure industry is responding, alongside the food and drinks industry. If you are looking at starting or buying a leisure or food/drinks business, ignore this trend at your peril.
Spurred by concerns about the impact of consumerism on the environment, the public are increasingly interested in buying all sorts of items second-hand. Online buying and selling sites are booming, alongside the second-hand car market, which has never before enjoyed such a golden age. Those looking to buy businesses should bear it in mind that consumers are no longer willing to blindly accumulate goods without thought as to how this might impact the environment around them.