In 2024, consumers will be even more demanding of brands and companies. In recent years, consumers have weathered a series of crises, from the upheaval of the Covid-19 pandemic to escalating living costs, the spectre of climate disasters, and mounting political and economic uncertainties. Faced with these challenges, consumers find themselves under financial strain and yet, they want to make environmentally conscious choices while spending their money more cautiously.  

The repercussions of the pandemic extend beyond immediate health concerns or a surge of remote working arrangements. Technological advancements such as the emergence of generative AI are changing the way we consume and live our lives. Therefore, consumers are demanding brands and retailers to adapt too, catering to their shifting needs and expectations. 

In this dynamic landscape, consumer Consumers expect more from brands than ever before. 

• Integration of Technical Solutions: Incorporating technical innovations to enhance customer experience, offering tailored solutions. Examples are the application of chat bots into apps that help consumers plan better and make more informed decisions.   

• Transparency: consumers demand evidence of sustainability efforts and transparent communication from brands, aligning with their values and fostering trust. 

• Personalized Health and Wellness: As the focus is shifting to a holistic wellbeing, consumers seek brands that offer personalised health solutions, such as tailored nutrition plans.  

• Moments of Joy: In uncertain times, where consumers are constantly facing bad news, they seek some distraction. Brands can offer moments of joy and escapism.  

• Value for Money: Despite financial constraints, consumers expect brands to deliver value without compromising on quality. 

Consumer preferences are closely linked to the sustainability agenda, technological progress, and the impact of socio-political issues. Companies need to move quickly, but at the same time, they should stay true to their brand’s core values. This also has implications for packaging and label suppliers who must also align with consumer expectations and sustainability goals.  

Responding to changing consumer needs in an ever-evolving retailing landscape remains paramount for brands. By embracing those needs, companies will forge deeper connections with their audience and remain resilient for any new challenges that are to come beyond 2024. Read this whitepaper on global consumer trends for more details.

Come to this year's FINAT European Label Forum in Athens to hear Linda Lichtmess, Research Consultant at Euromonitor International, speak about 2024 consumer attitudes to watch.