Understanding the Socioeconomic Drivers of Megatrends
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- Identify five drivers shaping megatrends
- Understand how the drivers are impacting consumer markets
- Learn how companies are responding to these drivers
There are five socioeconomic drivers generating and shaping consumer megatrends. These long-term shifts explain the on-going changes we see in consumer behaviour, from the emphasis being placed on experience over possessions, to the interest in healthy and ethical living.
In a rapidly changing global environment, megatrend analysis is critical for companies seeking to drive sustainable growth and remain relevant as competition increases and new ideas disrupt entire industries.
How to Apply Megatrends for Effective Strategic Planning
Megatrends are long-term shifts in consumer behaviour and are having a profound impact across consumer markets. Businesses need to conduct megatrend analysis in order to anticipate market developments, lead disruptive change in their industries and stay ahead of the competition.