Rising internet penetration, denser urban locations, faster paced lifestyles and challenging working hours are adding more and more layers of complexity to consumers’ lives. According to the World Health Organization, “workplace stress is the health epidemic of the 21st century,” and multiple agencies have tracked the steady rise of anxiety related illnesses around the world. Consumers are feeling more stretched than ever before, and are increasingly striving for convenient solutions which help to simplify their busy lives.
Around the globe, consumers need and look for convenience in all forms—whether simplicity, time saving or suitability. When it comes to the fast-moving consumer goods (FMCG) space, convenience is not only about store formats, products or packaging. It means more than the latest technologies or new engagement strategies. Rather, it is about every encounter, interaction and action that can help fulfil consumers’ growing demand for efficiency.
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’s increasingly important to understand the regional and global trends centered around the need for convenience. There are six key factors driving consumers toward convenience and by understanding them, fast-moving consumer goods (FMCG) 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 quarter (25%) of consumers in the Middle East and Africa regions use restaurant or meal delivery services. Grab-and-go meals from quick-service, fast food and street vendors are also on the rise — 32% of consumers in these regions are opting to eat outside on a weekly basis.
Circumstances, culture, location, market maturity and technology are key influences that are driving the need for FMCG companies toward 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. FMCG companies need to adapt ‘convenience’ at the centre of their offering so that they can address consumers with better products and solutions and remain ahead of the curve.