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Consumer services and behaviors are reshaped by disruptive trends.

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The Quest for Immortality: What impact will longer lifespans have on consumer behaviors?

The global movement towards healthier lifestyles has been one of the most important consumer trends over the past few years. A number of factors, including increasing consumer familiarity and comfort with scientific concepts, have contributed to the trend, which has been further accelerated by the global COVID-19 pandemic. In the next five years, we believe that this trend will become increasingly important.

Consumer health will improve, both as a result of breakthroughs in medicines and therapeutics, and because consumers actively choose healthier life options. This will manifest in further interests in healthier foods and beverages, more active lifestyles, and a focus on mental health. As lifespans increase, the time spent in healthy old age will also extend, changing the demographics and spending patterns of consumers.

Find out more about how longer lifespans will impact consumer behaviors.

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The Individual Revolution: How can consumer brands harness the power of the individual?

As power shifts from institutions to individuals, there will be several implications for the consumer sector. Most notable will be an even greater focus on customization and personalization, from highly targeted advertising to genetically tailored healthcare. Retailers are leveraging data analytics to present a more tailored offering to their consumers, thereby driving increased traffic, both physically and online. Consumer packaged goods companies are further leveraging data to provide more personalized products and services.

“Brands want more data about customers to help with better assortment planning and demand forecasting. Retailers can provide this, and it should be a win-win relationship.”

Nik Modi
Consumer Staples Analyst, RBC Capital Markets

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It is, once again, scientific and technological advances that are driving the individual revolution, giving us access to data about ourselves, our health and our lifestyles, and allowing us to share recommendations and reviews on products and services.

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AI Activated: How will AI transform the future of the consumer industry?

In the last ten years, the focus has been on understanding the potential benefits of AI for companies and acquiring capabilities. Over the next decade, AI will become a critical component of every part of consumer companies’ operations, from R&D to manufacturing to sales and marketing. AI will be particularly useful behind the scenes in the consumer space, improving operational efficiencies with greater automation and accelerating R&D. But it will also allow AI-enabled products and services, along with more personalized, products that leverage consumer data.

“We’d expect AI improvements to result in increased efficiency for consumer companies, leading to cost savings and potential margin improvements.”

Nik Modi
Consumer Staples Analyst, RBC Capital Markets

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Get the in-depth viewpoint on how AI will transform the consumer sector.

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Hybrid Living: What impact will an increasingly virtual world have on brands and consumers?

As consumers adapt to a new hybrid way of living, with less focus on physical spaces and an increased focus on virtual and digital spaces, consumer companies need to rethink their internal structures to adapt to a new working environment. They will also need to increase their marketing and advertising reach in the virtual world.

Traditional brands have succeeded for centuries in the physical world, with stores nationwide, large advertising campaigns, sponsorships and celebrity endorsements. In a hybrid world, consumer companies will face many challenges to keep their brands at the top of mind of consumers.

Gaming platforms provide a natural testing ground for the internet’s transition to the metaverse, especially given their rapid increase in usage over the last decade. As augmented and virtual realities make gaming more immersive, consumers companies that shift towards the virtual will better reach their consumers.

Discover more about consumers and the virtual world.

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The Great Balancing Act: Can we meet growing consumer demand with declining resources?

As the world population continues to rise, access to limited natural resources, as well as data and technology, will become increasingly important. It will lead to rising geopolitical tensions, an increase in cyberterrorism incidents, and trade conflicts among nations. This will create an even more challenging operating environment for consumer companies, particularly multinational companies with operations in several markets around the world.

We expect multinational companies will have to localize their business, increasing autonomy of local regions. They may also have to find new ways to secure raw materials in a challenging global environment.

Find out more about the threats and opportunities for the consumer sector.

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