Digital Consumer Trends

Goals

To find 2-3 recent trends related to how consumer behavior is changing as new technology and apps become more common. Focus on industries like (but not limited to) financial services, technology, communications, and consumer products.

Early Findings

During this hour of research, we explored "cocooning" as one trend related to how consumer behavior is evolving with the introduction of new technologies.

Trend #1: Cocooning

  • New technologies like smart homes and digital home security systems are spurring what has been coined the "cocooning trend." Consumers are making their homes a digital oasis where they can essentially hide away from the rest of the world. It has even become popular to bring the outdoors inside in order to enjoy the health benefits of plants by creating interior gardens.
  • Voice devices like Amazon's Alexa — more than 100 million of which have been sold across the US — and home surveillance systems like the Ring Video Doorbell make it even easier for consumers to use technology to avoid leaving their homes.
  • A 2018 USA Today article explained that consumers' perceptions might actually be skewed when it comes to registering how much time they're spending indoors. Data collected by YouGov reveals "a pronounced disparity between how much time people think they’re spending inside versus the reality of how many hours a day are actually spent indoors."
  • Netflix is one example of a tech application driving this particular trend. The concepts of "Netflix and chill" and "binge-watching" have modified the way people are consuming entertainment. Instead of going to the movies or participating in other activities outside of the home, viewers are opting to stay inside and watch streaming services for hours on end.
  • Amazon is another company driving this trend. Its Prime Pantry and AmazonFresh services have essentially given consumers a digital grocery store where they can get everyday food and household items shipped directly to their homes.

Proprietary Research

In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.

Proposed next steps:

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