The pandemic triggered consumers to make The Great Life Refresh, resulting in drastic personal changes and a collective reboot of values, lifestyles and goals according to Euromonitor's 2022 trend report. Businesses should innovate goods, services and experiences that respond to this once-in-a-generation moment, coupled with marketing that acknowledges and embraces the upheaval.
In the past year, consumers took inventory of their lives and are now actively trying to chart a new path forward. In 2015, only 12 percent of consumers prioritised time for themselves, which doubled to 24 percent in 2021. Consumers now have a higher appreciation for work-life balance. They are changing careers or leaving the workforce entirely to discover or pursue their purpose. Shaken and Stirred consumers were motivated to think about their passions and potential. Now, The Great Life Refresh represents consumers’ actions towards achieving new goals.
Change will remain the dominant trend that characterises lifestyle shifts in the short term. Activities and products that positively impact mental and physical health, such as adopting pets or having the ability to travel while working remotely, are influencing purchase decisions.
Job markets across the globe are experiencing unprecedented turnover. Certain consumers chose or needed to leave the workforce, especially caregivers, prompting LinkedIn to add new job titles like “stay-at-home parent” to accurately convey these roles. Workers are navigating government benefits, health risks and their return to normal as well as broader personal values. Employees are looking for careers that accommodate their life outside of the office. Companies implemented Workplaces in New Spaces and realised productivity levels were sustained, which permanently shifted how, when and where work can be done.
Mental wellbeing is also a part of The Great Life Refresh. Downloads of mindfulness apps like Calm and Headspace surged to help reprieve anxiety. Pet adoptions skyrocketed, and global pet care sales growth doubled from 2019 as more consumers looked for companionship. Businesses need to accommodate consumer needs, wherever they are in life.
Consumers will continue to navigate the turbulence of the pandemic. Companies catering to The Great Life Refresh stand to be seen as partners, helping consumers adapt to a new way of life. Businesses should tailor marketing to acknowledge and support consumers’ decisions to take action. Reverting to a pre-pandemic playbook might not have the same effect moving forward. Consumers will prefer brands that match the moment. Companies need to offer services and products that provide value and support personal growth to drive loyalty.