In its most recent report, Euromonitor International researchers revealed their "Top 10 Global Consumer Trends for 2018," which offers insights into the behavior of shoppers that impacts retail.The report shows consumer cohorts who are frugal and community-minded while demanding experiences that can leverage technology such as augmented reality.Report author Alison Angus, head of lifestyles at Euromonitor International, said although the consumer market still faces various hurdles, "such as country-specific regulations, things are improving on the regulatory front and with the market continuing to evolve, it is likely that further innovative start-ups will invest in new technologies." The report noted that with AR's potential across many industrial sectors, "the potential in the mainstream consumer space is vast, bringing the benefits of in-store shopping into the home."Meanwhile, online shopping will continue to see robust growth. “Online captures consumers’ interest with the convenience of the hassle-free, anytime, anywhere shopping they crave," Angus said. "The ability to see and touch products before buying is a bonus. This is in part why the in-store shopping experience remains appealing, and in 2017, 88 percent of global sales in value terms were still made in-store. In 2018 consumer expenditure is expected to grow at its strongest rate since 2011. Overall 2018 will see consumers continuing to question their values, priorities and purchasing decisions; deepening their engagement in the brands and issues that matter to them.”The top 10 trends includes: "clean lifers," who are twenty-something shoppers that adopt "clean-living" and a more minimalist lifestyles where less is more and is influenced by living through the "deep recession, terrorism and troubled politics;" the "borrowers" who are a "new generation of community-minded sharers, renters and subscribers" that is "reshaping the economy" via preferring experiences over buying stuff; the "call out culture," which is anchored by "hashtag activism;" consumers are who concerned over their heritage and genetic makeup; "adaptive entrepreneurs" who seek "flexibility in their lifestyles," and "view in my roomers" who connect "perception and reality."Other consumer behavior trends include shoppers who are political and weary of mass-produced products and consumers who are embracing the sharing economy and, like the borrowers previously mentioned, shun buying things. And finally, there are: consumers who are embracing co-living where people share living space as well as interests and values; and "the survivors" who have been traumatized by the Great Recession and remain "entrenched" in a frugal mind-set.
Exclusive: @longchamp is planning to stage its first official runway show at New York Fashion Week this fall. The French leather goods firm has expanded into ready-to-wear as part of its repositioning as a lifestyle brand. The show, scheduled for September 8, will also cap the brand’s 70th anniversary celebration. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @dominiquemaitre)
The Duke and Duchess of Sussex undertook their first overseas engagement as a married couple in Dublin. The trip included multiple events and outfits changes, including this black dress by @emiliawickstead that Meghan Markle wore for a party at the British Ambassador’s home. #wwdfashion #royals
At 20 years old – and with an estimated net worth of $900 million - @kyliejenner is the youngest person to ever make @forbes’ annual list of America’s Richest #SelfMadeWomen. “It’s incredible to be recognized for something I’m so passionate about, and I’m really grateful for that. I’ve always loved makeup and worked really hard to bring the first lip kit to the market,” said Jenner on founding @kyliecosmetics. See who else is on the list on WWD.com. #wwdnews #wwdbeauty (📷: @rainerhosch)
“The collection is inspired by Tulum and the Mayan Riviera – its laid-back luxury, life of cabanas, untouched coastline, natural habitats, exotic cocktails and jungle parties with renowned DJs,” said Matteo Maniatty, creative director and cofounder of @descendantofthieves, on the brand’s inspiration for its latest collection. See more designer sketches and inspirations on WWD.com. #wwdfashion #nyfwmens #nyfw
@riccardotisci17 is releasing a limited-edition capsule collection as part of his anticipated runway debut for @burberry in September. Delivered in a series of instant drops, this is the second Burberry capsule collection announced since Friday, when Tisci broke the news on his collaboration with @viviennewestwood. Get all the details on WWD.com. #wwdfashion #wwdnews
“It’s like a Cinderella story. You get a little fake, you get a little real, you put it together and voilà,” said legendary rapper Slick Rick, who helped pioneer the merge of luxury and streetwear. WWD’s @ariahughes spoke to @therulernyc about his jewelry collection, his collaboration with @bally and how the industry has evolved – link in bio. (📷: @kristaschlueter)
@ragandbone and @eminem are teaming up on a special capsule collection of streetwear pieces. Sold at a one-day pop-up in London’s Soho on Friday, the collection features three different T-shirt designs and a hoodie. The capsule is set to kick off the rest of Eminem’s shows in his European Revival Tour, which ends on Sunday. Get all the details on WWD.com. #wwdfashion