Page 22 - Toy & Hobby Retailer Magazine Mar-Apr 2019

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This focus on a reduction in plastic waste
has been demonstrated in the toy industry with many manufacturers looking to use and/or already using eco-friendly plastic or materials and recyclable packaging. Many Australian toy suppliers already offer environmentally friendly products ranging from eco-friendly cork toys to sustainable sugar-cane plastic toys, meaning that it would be no surprise to see the availability of these products increase in the coming year, driven by the consumer demand for eco-friendly toys.
I WANT IT NOW! - EFFICIENCY- DRIVELIFESTYLESAND FRICTIONLESS EXPERIENCES Although benefiting society in many ways, the internet has also reduced consumer's patience and attention span. Living increasingly busier lives has also affected consumers' ability to spend time waiting for a product.
This trend identified by Euromonitor, suggests that consumers are increasingly seeking frictionless experiences with retailers, so as to not disrupt their busy lifestyles. Apps that help with organisation are relied on to help manage scheduling and tasks. According to the report, consumers are also very interested in technology that can help avoid queues, reduce waiting time and synchronise personal information and preferences.
This trend is prominent in those aged 30-44 who live in urban areas in developed countries. This segment of consumers are also willing to spend money on products or services that save them time.
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“Companies now put their customers on a pedestal. We’re sent discount codes, free gifts, special offers—what used to be considered VIP treatment—simply for buying something. The power has switched. Whereas retailers used to hold customers in the palm of their hands, now shoppers must be given a good reason to buy something in the first place.
“Everyone’s an Expert, but everyone’s more entitled too. No free delivery? Forget it. No loyalty rewards programme? I’ll take my business elsewhere. Unless brands cater to the consumer, they are not going to survive in this new shopping realm,” she says.
I WANT A PLASTIC FREE WORLD – CONSUMERS TAKING DIRECT ACTION TO ELIMINATE
PLASTIC WASTE
This trend aligns closely with the Conscious Consumer trend, whereby shoppers are hyper-aware of plastic's negative impact on the environment.
Euromonitor says the desire for a plastic- free world will only continue to grow in 2019. Consumers are willing to pay more for eco- friendly products, and according to the report, the proportion of consumers doing this has risen in the past two years. Similarly, recyclable packaging has also become a strong influence on a customer's purchase decision.
According to a report from the Australian Department of the Environment and Energy, 2016-17 saw Australian's consume 3,513,100
reviews at my fingertips
information on the product and they expect to
find it available at multiple retailers.
Lifestyles Survey (2017)
online to find the best deal.
China, Japan, the USA, the UK and India are
© Euromonitor International
the countries that will generate the most revenue in online shopping in 2022, according to the report. The search term 'best' was one of the most highly searched words in these countries in 2018 too.
This trend sees a power switch between the retailer and a consumer. Instead of the consumer consulting a retailer or brand for information, consumers now look to reviews, influencers and their friends to find the best deal. No longer is one source of information considered trustworthy or reliable, perpetuated by the amount of fake news and information found on social media.
Consumers also expect that retailers will be innovative in their approach, drive prices down and make their products and displays streamlined and aesthetically pleasing.
“The shift towards a higher standard of consumer experience, choice and knowledge is a permanent change driven by the millennial and generation
Z demographics,” says industry manager of retailing at Euromonitor, Michelle Grant.
“Consumers today rely on the expertise of their peers to make sure they get the best in a sea of sameness. Shoppers meticulously check reviews before committing to a product and are increasingly more likely to leave their own feedback.
“Consumers are giving themselves extra work before, during and after the purchasing
In 2018, Australians saw the ban on single-
use plastic bags from major supermarkets.
Within three months of the ban, an estimated 1.5 billion bags were stopped from entering the
22 TOY & HOBBY RETAILER MARCH / APRIL 2019
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Source: Euromonitor International’s Lifestyles Survey (2017)
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