Friday, 24 May 2013

Ten Lifestyle Trends Affecting Global Business

Lifestyles of the people in the modern day has a huge difference compared to a decade ago, with the advance of technology, transport and medical science have lend to a change of expectation and demand in life, which at the same time changes the global business.

    Royale International Group
  1. Time pressures – consumers have less time available and are most commonly felt in emerging markets.
  2. Cultural flows – The spread of ideas, brands and products to interconnect the world exposing consumers in developed and emerging markets to ideas products and new ways of thinking.
  3. Asia Growth – Asia is becoming stronger economically and raising their prominence all over the world.
  4. Mass media growth – consumers have increased accessibility to the media through computers, television, radios and mobile phones increasing accessibility and choice.
  5. Mobility – consumers are able to move freely due to the rise in mobility. They are able to go further and travel faster impacting on lifestyles and new mobility related products and services.
  6. Networking – Networks have allowed people to connect and increase the speed in which information travels.
  7. Monetisation – Time is being equated with money and this is resulting in an increase of services that save time and make life more convenient for the consumer.
  8. Transparency – Gathering, viewing and storing information allows people to learn more about the people, products, companies and governments.
  9. Migration – as people move their lives are affected by changes in social values, food, language entertainment and almost all aspects of their daily lives. International and domestic migration is expected to continue rising over the next few decades.
  10. Consumerism – Rising incomes and globalisation have opened up consumerism for more people. Lifestyles that are reliant on goods are spreading around the world at a fast pace.

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