Time Scarcity - Consumer TrendSights Analysis, 2023

Time Scarcity - Consumer TrendSights Analysis, 2023

Summary

Time Scarcity is one of the 63 sub-trends that GlobalData covers as part of our TrendSights series of Consumer Insight studies. The analysis covers what the trend is, why it is important, who is most influenced by it and how brands and manufacturers can capitalize. The research concludes by identifying where the trend is heading next and how long it will last.

Demand for ease and convenience derives from being time-poor, and a perception of not having enough time to do all the things that one wants or needs to do. Convenience needs pervade all aspects of life, forcing dependence on highly efficient and effective products that better facilitate busy lifestyles.

Scope

• The COVID-19 pandemic completely transformed how consumers view, allocate, and value their time. The greater incidence of remote working for example, made grab-and-go breakfasts and desk lunches less frequent.
• The future of convenience in the context of consumer goods does not sit with grocery, food, or convenience retailers, but rather with technology companies.
• Consumers will not necessarily prioritize time above all other factors when making purchases, regardless of how busy they are. In fact, simplicity is generally deemed more important than simply saving time.

Reasons to Buy

• Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.
• Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
• Access valuable strategic take-outs to help direct future decision-making and inform new product development.