Issue link: https://www.ascpskindeepdigital.com/i/1489006
24 ASCP Skin Deep Winter 2023 Get to Know Your 2023 Customer Still not ready to believe it's 2023? You're not alone. The past year flew by for many business professionals as everyone attempted to settle into a more normal pace of life. To prepare you for the year ahead, market research firm Mintel released a report on global consumer trends for the next 1–5 years. The report was centered around seven key drivers of consumer behavior: identity, rights, surroundings, experiences, technology, well-being, and value. Whether you're a small business owner or an employee in a spa, here are the consumer trends you can keep an eye on this year: • Me Mentality: According to Mintel, consumers are starting to focus on themselves again after the grueling past few years of the pandemic. Companies can help them by offering mental health and wellness-focused products and services. • Power to the People: Consumers are starting to put their dollars where their values are. This means they are looking to spend on brands that invest and create with similar values in mind. Businesses should be listening to what their consumers desire and attempt to mimic it or respond to it. • Hyper Fatigue: People love to be entertained, but there is such a thing as too much stimulation. "Consumers are being stretched in many directions while being bombarded with media stories and digital content," Mintel explains. "The pandemic, rising cost of living, energy crisis, geopolitical unrest, and climate crisis are taking their toll, leaving consumers feeling overwhelmed." Because of this, consumers are looking to connect with what matters to them. • International Localism: Buying local is top of mind. Consumers want to invest their money in their local economy to give back to their community and the environment around them. • Intentional Spending: Sustainability continues to reign supreme. People are not only looking to buy and consume less, but they're also expecting more durability and quality in what they purchase. To download a copy of the full report, head to mintel.com/ global-consumer-trends.