In the aftermath of a tumultuous few years, consumers are adapting to living in a permacrisis era, driven by economic, environmental and political turmoil. Despite this, we as citizens are unwilling to compromise on what we want from the people and organisations around us.
Economic uncertainty is playing out differently today. Consumers aren’t solely thinking about spending less; instead, they’re questioning how much value they derive from the products and services they’re purchasing. Brands and businesses need to consider whether they’re offering consumers high-value assurance, or else risk becoming obsolete.
Future Forecast 2024 attempts to capture this with the 50 accelerating trends that brands should look to in the coming year to meet consumers where they are, even if that is rapidly changing every day.
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Hero image credit: Maison Kitsuné spring/summer campaign 2023, France
From clean beauty to clinical beauty, in 2024 this sector will be defined by a desire to recreate our digitally filtered face through tweakments and science-backed products.
: Health & Wellness
The health and wellness industries have been supercharged by tech advances over the past year, but with the advent of AI – combined with consumer demand for clean medicine, this sector is set to benefit from new innovations that will contribute to our Longevity Lifestyles.
: Food & Drink
Cost-conscious and climate-friendly diets will be supplemented by rapid technological advances to develop innovative solutions including lab-synthesised meats and four-wheeled robots delivering meals on wheels.
: Travel & Hospitality
As revenge travel spending normalises, travel and hospitality brands need to find innovative strategies to distinguish themselves through bespoke loyalty programmes, cultural itineraries and integrative technologies.
The luxury industry has maintained its social and economic prestige despite precarious economic conditions. Moving forward, the industry must continue to reshape narratives surrounding heritage and legacy in order to attract a new wave of young luxurians.
In 2024, fashion brands have no choice but to meet consumer demand for sustainability and inclusivity in terms of size and disability. Innovations in technology, garment care and education will be pivotal in accelerating change in the sector.
The retail landscape has entered our home as consumers frequently explore products, consume content and make purchases on their devices. In order to remain relevant, retailers must embrace virtual technologies that can help create a seamless journey
: Pop Culture & Media
Visual aid with podcasts, dress codes for film screenings and hyperphysical activations at live concerts are some of the innovative strategies brands have adopted to distinguish themselves in a saturated media environment
As consumers continue to immerse themselves into virtual worlds – whether that is in the metaverse or through gaming – brands are racing to establish themselves in these realms by integrating new technologies into their marketing activations
As consumer lifestyles change, along with B2B requirements, designers continue to find innovative solutions that not only create better products but also have a positive impact on our environment and societies
Image: Wearables, US
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Future Forecast Report
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Image credit: Victoria Ling for The Future Laboratory