Lifestyles

WHAT'S NEXT?: Digital lifestyles are on the rise around the world and AR and VR will likely see us all using wearables, head-mounted displays and smartphones in almost everything we do. And, most of us will be living in cities too with full amenities close by.

• Increased cost of healthcare services coupled with high prevalence of lifestyle diseases as compared to the earlier years will likely to accelerate the growth of the health insurance market in the forecast period of 2020-2027.
• Social Shopping: With the growing influence of social media, in 2020 will mark a crucial tipping point for social commerce as a prominent channel for online shopping.
• The global market for container management software and services will increase from a base of US$ 465.8 million in 2020 to reach values of $944 million in 2024, driven by the adoption in cloud-native applications and infrastructure.
• Knight Frank expects rental values in London to remain flat over 2020, with some upward pressure returning in the second half of the year.
• Increasing awareness regarding healthy lifestyle and changing consumer preferences are the major factors driving the growth of sparkling water market in the forecast period of 2020-2027.
• Rapid urbanization, coupled with high disposable income of individuals, busy lifestyle, and growing awareness among consumers for healthy diet are some of the other factors expected to fuel growth of the non-thermal pasteurization market in the next coming years.
• Rental values in prime central and outer London will remain flat over the course of 2020, with some upwards pressure returning during the second half the year.
• The convenience retail market in the UK will grow 8% to £44.7bn in 2020 - up from 2.6% growth last year - as the sector benefits from changing shopper behaviour during the coronavirus outbreak.
• While the target state of consumer behavior and expectations may not be known for a while, the Covid-19 crisis will cause at least some segments of consumers to fundamentally rethink their risk management and insurance solution needs.
• Fueled largely by poor lifestyle choices, diabetes kills almost 100,000 Americans every year, and by 2030, the US may be looking at an annual death toll of 400,000.
• There is strong potential for consumers, previously cautious around online shopping, to gain confidence and retain a higher proportion of spending online after the crisis, which will drive increased demand for 'last touch' logistics in particular.
• 2020 was set to be a year of collective action on climate change until COVID-19 brought many unknowns, including how future travel behavior will develop and whether sustainable initiatives will be forgotten or gain priority.
• United States home values have gone up 3.8% over the past year and Zillow predicts they will rise 4.1% within the next year.
• For merchants that will spend will spend the next few years figuring out how to counter Amazon's dominance, the expansion of autonomous checkout and the decline of traditional retail, ideas that make it easier to respond to new shopping and payment habits will be in high demand.
• COVID-19 has undeniably accelerated the growth of online grocery shopping across all age demographics, with 50% of all American consumers projected to have tried online grocery by the end of 2020.
• In Europe alone, the online grocery market is expected to grow by 66% by 2023 while Nielsen forecasts that 70% of consumers globally will do their grocery shopping online by 2024.
• The Energy Systems Catapult found Net Zero by 2050 is possible if the UK supports innovation and scale-up across three essential areas - Low Carbon Technology, Land Use and Lifestyle.
• Retail stores may take a big hit: 100,000 locations could close by 2025 - a trend accelerated by the COVID-19 outbreak - if more Americans opt for online shopping.
• Consumers are reliant on digital devices now more than ever, and Business Insider Intelligence predicts that mobile will inch closer to becoming consumers' preferred channel for online shopping within the next five years.
• The Asia Pacific market is projected to register fastest growth rate in the next 10 years, owing to rapid urbanization, hectic lifestyle, and increasing spending capacity.
• Unhealthy UK lifestyles continue to cost the NHS around £11 billion every year and potentially preventable health risks cause 40% of ill health and early death in the population.
• The coronavirus outbreak is going to have a lasting impact on consumer behavior, meaning there's a higher chance that oil demand will peak this decade.

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Last updated: 06 August 2020