Convenience is the ultimate currency to win global consumers
Hyperconnectivity and busy lifestyles are influencing buying decisions of global consumers. Global consumers want convenience at every stage of shopping and brand engagement with products and services. However, convenience means different things to different consumers and it is increasingly important to understand the regional and global trends centered around the need for convenience. There are six key factors driving consumers towards convenience and by understanding them, companies can adapt and enhance their solutions as consumer needs rapidly evolve.
The evolving demand for convenience has given rise to a slew of life-simplifying products such as ready prepared and on-the-go meal solutions, home or office grocery delivery offerings, and tech-driven “on-demand” services. One third (33%) of global consumers use restaurant or meal delivery services (11% at least once a week). Grab-and-go meals from quick-service, fast food and street vendors are also on the rise — 57% of consumers globally have visited a fast food outlet in the past six months. Lunch and dinner are the meals most likely to be substituted with out-of-home dining options, with 39% of global online consumers opting to eat outside on a weekly basis, and as many as 48% of consumers in Asia-Pacific and 47% in North America grabbing meals on the go.
Circumstances, culture, location, market maturity and technology are key influences and are driving the need for fast moving consumer goods (FMCG) towards convenience solutions tailored to cater to different segments of society and geographical areas. Since consumers don’t articulate convenience directly, FMCG companies can get insights from consumer activities during their start-to-finish experience with products and solutions.
For FMCG companies, and many other industry players, the quest for convenience begins with many areas to consider and explore. Their ability to accelerate the response time to consumer demands, offer omnichannel facilities and greater product visibility are some of the starting points to consider. The ability to remove consumer pain points and satisfy the elements of convenience – Ease, Utility and Simplicity, will lead companies ahead of the curve.
View our Quest for Convenience webinar playback for more insights on what consumers mean when they seek convenience in their online, retail and home environment or download the infographic for summary.