Consumer Trends 2022: Mid-Year Update

The summary of Consumer Trends 2022: Mid-Year Update by New Consumer states that there are several noteworthy trends that have emerged or gained momentum in the first half of 2022. With the world moving beyond the COVID-19 pandemic, there is a growing trend towards the return to normal life, with more people frequenting restaurants, traveling, and going to fitness centers. However, there is also a concern about the height of inflation impacting consumer spending power. The older millennials and Generation Z are entering an active spending phase, which makes them a critical target market. There is also a rise in home medicine and consumer health and wellness, with a greater interest in fitness, nutrition, telehealth, and other related products and services. As far as the job market is concerned, offices in New York are still struggling to get back to pre-pandemic levels, with occupancy rates at only 40%. Finally, despite his political controversies, Donald Trump continues to enjoy popularity among many Americans.