Business Consumer Insights

Trend - Companies are opening new social media services with the intention of fostering more intimate connections between users. In a rebellion against social medias built around endless feeds, these platforms connect users with similar interests and have convenient public and private group chat systems.

Insight - While nearly everyone today engages with some form of social media platform, most agree that the social aspect of the platforms has become secondary to monetization and algorithmically-fed content streams. Many of these users find popular social media platforms isolating, and cite difficulties trying to foster real connections. In recognition of these complaints, smaller social media services are focusing on fostering direct connections between users and communities.

Trend - Pumpkin seed protein is emerging as a standout in the plant-based protein market, particularly among legume-based options. Known for containing all nine essential amino acids, it mirrors the nutritional profile of hemp protein, making it highly valued in vegan and vegetarian diets.

Insight - The rising popularity of plant-based proteins reflects a broader dietary shift towards sustainable and allergen-free nutrition. Consumers increasingly seek diverse protein sources that align with their health and environmental values. Plant-based proteins, like those derived from legumes, not only offer a rich profile of amino acids but also bring additional health benefits such as fiber, vitamins, and minerals. This shift presents a significant opportunity for nutrition brands to innovate with new plant-based offerings, appealing to a market driven by both health considerations and ethical consumerism.

Trend - Embedded lending is reshaping financial services by allowing non-financial companies to offer loans and financing, such as Buy Now, Pay Later (BNPL) options exemplified by Apple Pay Later. This trend extends beyond consumer finance into the B2B realm, providing small and medium-sized businesses with faster access to capital through various funding methods like merchant cash advances and revenue-based financing.

Insight - The rise of embedded lending showcases a pivotal shift in how companies across various industries integrate financial services, reflecting a broader trend towards embedded finance. This integration is driven by the desire to enhance customer experiences by providing seamless, on-the-spot financing options, effectively turning every company into a potential fintech player. The ability to offer tailored financial solutions not only improves customer engagement and retention but also opens new revenue streams for businesses.

Trend - Colostrum supplements are gaining momentum within the wellness industry as consumers increasingly seek natural ways to bolster their immunity and enhance gut health. Colostrum, the first form of milk produced by mammals immediately after birth, is rich in antibodies and nutrients, making it an attractive option for those looking to support their overall health.

Insight - The rising interest among consumers in preventative health is transforming the health and wellness industry. There's a noticeable shift towards proactive wellness strategies, as today's health-conscious individuals actively look for ways to boost their immune function, improve digestive health, and enhance their overall well-being. This move towards preventative care indicates a broader societal acknowledgment of health as a holistic, long-term investment, steering many away from the conventional reactive approach to healthcare.

Trend - Retail is entering a "less-is-more" era, driven by consumer desire for curated shopping experiences that simplify decision-making. Consumers, overwhelmed by past excess, now value well-edited selections that simplify decision-making. This trend prioritizes quality and guidance over sheer quantity.

Insight - The fundamental role of the retailer is evolving from supplier to curator. This shift addresses a growing psychological burden on consumers, who are increasingly overwhelmed by excessive choices. By offering a refined selection, retailers can elevate the shopping experience, making it more efficient and satisfying. This strategy not only reduces the stress of choice for the consumer but also strengthens brand loyalty by reinforcing the retailer’s role as a trusted advisor in the consumer’s style and purchase decisions.

Trend - Wallet loyalty programs are gaining prominence as consumers show increasing reluctance to download multiple apps for brand engagements. Brands are offering loyalty cards through Apple Wallet and Google Wallet as a seamless way to integrate loyalty cards directly into consumer smartphones.

Insight - In today's consumer landscape, convenience is a paramount factor that significantly influences brand interactions and loyalty strategies. Modern consumers, particularly digital natives, prioritize efficiency and seamless integration in their transactions, expecting quick and effortless interactions that mesh with their daily routines. This shift has compelled brands to rethink traditional loyalty strategies, which often felt cumbersome or disconnected from a digital-first experience.

Trend - Web3 and gaming brands are creating dedicated gaming consoles for cryptocurrency and NFT-integrated games. These consoles connect to players' crypto wallets to streamline withdrawing or using acquired cryptocurrencies on other platforms, thus increasing the attractiveness of web3 gaming.

Insight - The incorporation of web3 elements in video games is polarizing to gamers, with many either fully embracing or rejecting the field. However, some of the barriers that prevent gamers from engaging with web3 features include complexity, volatility, and security concerns. In an attempt to better address these concerns, reduce barriers to entry, and expand the web3 gaming market, brands are designing easy-to-use hardware with embedded security features.

Trend - Data storytelling, which combines data visualization with narrative techniques, is emerging as a powerful method for businesses to comprehend and act upon complex data. The growing trend is fueled by advancements in analytical tools like Tableau and Yellowfin, which have integrated data storytelling features, making them more accessible.

Insight- Organizations are looking to bridge the gap between data collection and actionable insights. Despite collecting large volumes of data, a considerable amount remains unused, underscoring the prominent inefficiencies in data management and the underperformance of traditional analytics. This issue is pushing companies to rethink their strategies for handling data and analytics, with a keen interest in improving their ability to understand data through visualization and storytelling.

Trend - Companies are launching Artificial Intelligence (AI)-powered scribes for the healthcare industry. These AI scribes automate the process of recording verbalized information from the patient and the charting, organizing, and preserving of important details—saving time for healthcare professionals.

Insight - Even in the post-covid world in North America, there is a persistent shortage of healthcare professionals leading to many being overworked. These working conditions reduce the amount of time allotted to each patient, and could potentially lead to some more menial tasks not receiving adequate attention. In recognition of these challenges, companies are launching AI tools and assistants specifically designed to perform documentation-related tasks, such as notetaking and charting patient data.

Trend - Since their inception in France in 2022, croissants filled with baked cookie dough, or 'Crookies,' have grown in popularity in restaurants and bakeries. Crookies are versatile and offer consumers a mix of the light flakiness of a croissant and the densely flavored dough of a cookie.

Insight - Foodie consumers and influencers continually seek foods with new ingredients, flavors, or cooking methods. These consumers try new products as soon as they are available, with social media bringing attention to more popular selections. Brands recognize that these consumers heavily prioritize more creative and diverse foods. In order to better capture the foodie consumer base, bakeries and restaurants are crafting hybrid pastries that blend different textures and flavors.