18 March 2022: Dynata published Global Consumer Trends Series: The New Experience Economy
 

Nearly everyone’s lives have been changed by the pandemic, and for almost half of the global population, the change was profound. The pandemic also led to widespread digital adoption as people were empowered to work, shop, and connect with others from the comfort of their own homes.

New mindsets and behaviours have emerged as people redefined their values and reconfigured their lives to put renewed priorities first. Ongoing isolation, stress and health concerns led people to prioritise quality time with loved ones and to focus more on their physical or mental health. Being able to work from home or have a flexible schedule has helped people find balance, and now it’s the most desired job quality.

The pandemic also moved more people to shop online, and while most appreciate the convenience, not being able to touch a product or ensure its quality are seen as the major drawbacks. Could augmented reality shopping fill the gaps? Among shoppers who expressed some interest in an AR-shopping experience, 3 out of 4 say it could lead to a purchase.

Demand for virtual culture and entertainment during the pandemic also grew as people moved online to work out, take classes, see concerts, travel or experience culture. About 1 in 4 consumers globally are interested in these types of virtual experiences but say it’s just not the same as being there in person. Will immersive technology be able to replicate the feeling of being there in person in the metaverse?

How we pay and get paid may also evolve as more people are becoming invested in alternative currencies. Globally, 1 in 5 people have bought or invested in a cryptocurrency, and 1 in 4 are open to getting paid in crypto.

Dynata’s newest report, Global Consumer Trends: The New Experience Economy, uses responses from 11,000 consumers across 11 countries – Australia, China, Japan, the US, Canada, the UK, France, Spain, Germany, Italy and the Netherlands – for innovators looking to shape the future of work, shopping, payments and culture.

To attend the Global Consumer Trends: The New Experience Economy webinar, sign up here.