3 key industry trends to watch out for in 2021

Consumption battle for every brand is fought at home

Pandemic has quite unprecedentedly brought the focus on homes. With a large set of
population spending the majority of their time at home, in-home consumption of goods and
services has sharply increased and is likely to remain advantaged even during new normal.
Consumption at home is changing in F&B( owe it to new found cooking love by lillions),
entertainment, connectivity and all walks of home improvement.

Health is wealth

Never before did greetings mentioned better health, as profoundly as it did last year and that
showcases how old adage “health is wealth” is connecting with everyone. The focus on physical
and mental well being has significantly improved and it is changing the wallet share of larger
society to a great extent. All products and services portraying a positive connotation of good
health will get advantage while the opposite ones shall have risk of getting marginalized.

ESG (Environmentional, Social and Governance) needs to get integral to business

Increasingly, consumers are wanting to see brands and corporations being responsible and
sensitive towards the greater good of humanity. This change is emerging from a brewing
revolution right from end-consumers who want companies to demonstrate their commitment to
the environment, make a meaningful impact in society by giving back and be transparent,
forthcoming on disclosures. And that is rather clearly reflecting through the buying decisions
made by millennials and generation Y, nowadays. Companies have no choice but to boost up
their ESG commitments.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of ET Edge Insights, its management, or its members

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