5 Consumer Trends That Are Paving the Way In 2021

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Consumer trends are paving the way for major opportunities for businesses. The new normal of remote work and online shopping causes consumer patterns to shift businesses need to be ready. Here are 5 consumer trends for 2021.

A Change in Financial Habits & An Improvement in Financial Literacy

Younger generations don't have the same views when it comes to saving money, home ownership, and investing. They think differently when it comes to earning money and what they spend that money on. They're much more aware of personal finance and they're prepared to do what it takes to reduce their monthly expenses. 

If you're a student today, the idea of refinancing your existing student loans into a new loan with a private lender has most likely crossed your mind. Using a student loan refinance calculator that will show your repayment options is all part of the process and all you're thinking about is how you'll benefit in the long run. Younger generations aren't being scared into paying into a retirement program and they prefer to have a varied investment portfolio. The opportunity? New financial solutions that address these changes in consumer habits. 

Family & Household Productivity

Zoom, Trello and Slack have changed life at the office for many people, but what about when they go home? Have there been any breakthroughs in technology that will make life a little less complex at home? The answer is no and the stats tell us that people - especially working parents - need innovative tools and software that will help them to manage their lives at home as effortlessly as they manage projects at the office. The opportunity? Tools and software that are focused on household management and productivity. 

Custom Healthcare Plans

With the rising cost of healthcare comes the demand for better services and personalized healthcare plans. It's 2021 and patients should have access to professional care that fits their lifestyle and their specific needs, and not a one-size-fits-all healthcare plan. The opportunity? Advancements in telemedicine and patient-doctor communication. 

Mindfulness & Self-Care

People are leading increasingly hectic lifestyles and, as a result, they are prioritizing their mental health and wellness. Self-care is the new buzzword and younger generations are choosing to peruse careers that align with their passions rather than choosing a career just for the benefit of getting a healthy pay cheque at the end of each month. People are becoming more conscious of how they spend their down-time and this is an area that will see huge growth over the next few years. The opportunity? Apps and software that promotes optimal physical, emotional, spiritual and psychological health. 

Sharing Live Experiences

We used to shop, go to concerts and drink beers with our friends and live in those moments. Today, consumers are used to sharing these experiences live with the wider community and the demand for platforms that promote live user engagement is growing. The gaming market is already experiencing huge growth in this area and more innovation is coming that will allow for magical shared live experiences. The opportunity? Platforms that enable consumers to share their experiences live in real-time with their wider community.