Time Scarcity Trends and Consumer Insights Analysis Report 2017 – Research and Markets
DUBLIN–(BUSINESS WIRE)–Research and Markets has announced the addition of the “TrendSights
Analysis: Time Scarcity” report to their offering.
Time scarcity has intensified in light of more dual-earner families and
long/non-standard employment hours. The boundaries between work and
private lives have blurred. With time at a premium, time itself has
become a form of currency, evidenced by popular convenient products
commanding significant price premiums (even if consumers are now
becoming more reluctant to pay).
Demand for ease and convenience derives from being time-poor and a
perception of not having enough time to do all the things that one wants
or needs to do. Convenience needs pervade all aspects of life, forcing
dependence on highly efficient and effective products that better
facilitate busy lifestyles and maximize leisure time.
Whether people actually have more or less free time than they used to
(the evidence is conflicting and perceptions are often worse than the
reality) is largely irrelevant as consumers focus on leisure-time
maximization regardless. So, irrespective of whether time compression is
self-imposed, convenience attributes (both the type and timing of
convenience) become important coping tools.
The majority of consumers want to minimize the amount of time they spend
on doing chores such as cleaning and laundry. As such household care
manufacturers need to develop products that help people increase their
leisure time in their weekly routine, and minimize time spent on chores.
Multi-functional products that offer several benefits in one can save
the consumer time and even storage space. They are also viewed to be
better value for money by 44% of respondents.
Trends
– Financial pressure and economic anxiety in today’s world has
intensified the need to work more and for longer placing greater
restrictions on personal downtime.
– Age of connectivity has fueled an always on mode among consumers
seeking instant gratification from the products and services they use
– Desire for simplicity fuels demand for time-saving products.
Consumer Insights
– Millennials heavily rely on time-saving products, and are most likely
to work long hours and/or have a long commute compared to other cohorts.
– 35-44 year olds are most likely to rely heavily on time-saving
products. Juggling child-rearing with other commitments is a primary
reason for this.
Scope:
– Age of connectivity has fueled an “always on” mode among consumers
seeking instant gratification from the products and services they use.
– Millennials heavily rely on time-saving products, and are most likely
to work long hours and/or have a long commute compared to other cohorts.
– Fortification provides a “quick fix” way to boost nutrient levels,
with 49% of consumers agreeing that food and drink is the most effective
format for delivering health-enhancing ingredients.
Key Topics Covered:
1 Trend Snapshot
2. What is Time Scarcity?
3. Why is Time Scarcity important?
4. Who is driving Time Scarcity?
5. How can Time Scarcity be capitalized on?
6. What Next in Time Scarcity?
7. Appendix
Companies Mentioned
– Tesco
– The Saucy Fish Co.
– Barilla
– Weetabix
– Tea of a Kind
– No More Tea Bags
– Wilder Willi
– Benefit
– St Tropez
– Milk Makeup
– Evolve
– PetCube
– Procter & Gamble
For more information about this report visit http://www.researchandmarkets.com/research/xcgqcx/trendsights
Contacts
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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