Megatrends Digital Living A Framework For The Future

Megatrends: Digital Living – A Framework for
the Future
July 2023
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International 2021.
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at time of publication: July 2023
Contents
Introduction
Digital Living: Always on
Digital Living: Story of one
Digital Living: The metaverse
Implications for future growth
Introduction
INTRODUCTION 55
Megatrends: Digital Living – A Framework for the Future
This report is part of Euromonitor

International’s Megatrends series. It focuses
on the Convenience Megatrend, one of
Euromonitor's 10 megatrends impacting
business, exploring the forces driving
consumers’ prioritisation of convenience, how
the trend manifests in terms of consumer
behaviour and purchase motivations, and
summarises the main practices that
businesses should know about to best serve
consumers seeking convenience.
Disclaimer
Much of the information in this briefing is of a
This report provides an update on Digital Living – one of Euromonitor International’s 10 statistical nature and, while every attempt has
megatrends, exploring the three key pillars of the trend to highlight where opportunities lie for been made to ensure accuracy and reliability,
Euromonitor International cannot be held
business. responsible for omissions or errors.
Figures in tables and analyses are calculated
Technological advancements continue to accelerate the digitalisation of all our daily routines
from unrounded data and may not sum. Analyses
from shopping, entertainment and socialising through to work and learning. The evolution of found in the briefings may not totally reflect the
the metaverse promises to enable the seamless convergence of our physical and digital lives. companies’ opinions, reader discretion is advised.
INTRODUCTION 66
Leaders harness megatrends to disrupt a market
Megatrends represent fundamental shifts in consumer behaviour that define what is happening in consumer markets. They highlight what
is important to consumers and how their values, priorities and preferences are changing, forming their lifestyle and consumption choices.
These changes in consumer behaviour are underpinned by forces (drivers) that evolve over time and play a large part in the disruption we
see in consumer markets everywhere.
Businesses across categories should embrace megatrends analysis, understand the drivers shaping the world and the resulting consumer-
led megatrends, and what this means for them and the competitive environment. Putting future consumer needs at the centre of strategic
thinking can help companies stay relevant and transform how they operate. It enables business leaders to recognise the opportunities and
innovate, shift from reactive to proactive strategies, disrupt before competitors and stay relevant in the long term.
INTRODUCTION 77
Key findings
The launch of Matter, an open-source industry standard, will accelerate adoption of smart
USD600 billion market
appliances, electronics and related services. As building a smart home becomes easier, the
opportunity in 2030
market will expand. We expect the market to be greater than USD600 billion in 2030.
Personalisation will be greatly accelerated. Consumers will gain access to personalised health,
Everything will be
fitness, medical, meal, and many other services. More than 50% of respondents in a 2022
personalised
survey want products and services that are personalised.
Everything down to the simplest light bulb is now connected. As a result, each person is
Everything is being
estimated to generate 2MB of data every second. In China, for categories such as TVs and
connected
robotic vacuum cleaners, almost 100% of the products sold are now smart devices.
Every consumer story has the potential to go viral. Corporations are at a disadvantage as it is a
Consumers have asymmetric
match-up of one corporation against many consumers. A responsive and engaged corporate PR
power
will be critical for corporations selling to the Digital Living consumer.
There is no single vision of the metaverse. This fragmentation is an opportunity for first movers
First-mover advantage to shape the future. The metaverse hardware market has the vibe of the smartphone market in
its early days.
INTRODUCTION 88
The rise of Digital Living

The shift to Digital Living is moving at a more rapid rate than ever. Global Smartphone Activities, At Least Weekly, 2019-2023
Consumers who were reluctant to go online prior to the COVID-19 % of respondents
pandemic years have since embraced the shift to digital. With the 90
help of technology, it is now entirely possible for consumers to live 80

seamlessly in both physical and digital spaces.
70
By 2040, nearly 90% of the global population will be using the
internet and more than 99% will own a smartphone. The use of the 60
internet and mobile apps is extensive and still growing across all 50
aspects of life and with the shift to remote working, another part of
our daily routine has been digitalised. While it would have been 40
abnormal, even unhealthy, in the past to spend large parts of our 30
lives in the digital space, it is now the norm. The inefficiency of
doing many activities in the real world, be it banking, shopping or 20
even seeing a doctor, has solidified the position of digital services. 10
Looking ahead, with the amount of money being invested in the
0
metaverse (Meta Platforms spent USD10.2 billion in 2021 alone, up Use a Use a banking Take a voice Use an app to Make an in- Buy an item
from USD6.6 billion in 2020), digital living will likely shift more messaging service call over the track my store mobile of service
towards these virtual spaces. Yet, there is no single definition of app internet health payment
what the metaverse is; it will likely evolve to be a convergence of 2019 2020 2021 2022 2023
our physical and digital lives enabled by AR and VR, blockchain, 5G
and many other technologies. Source: Euromonitor Voice of the Consumer: Lifestyles Survey, 2023
INTRODUCTION 99
The pillars of Digital Living
Life on demand
Always on
Internet of everything
Consumer power
Digital Living Story of one

Consumer centricity
Enhanced engagement
The metaverse
First-mover advantage
INTRODUCTION 10
10
The pillars of Digital Living in detail

Life on demand
▪ Consumers’ attention span has shortened significantly; we now expect everything to happen almost
Always on
instantaneously, be it services or online deliveries.
▪ Consumers are always connected, continuously generating and sharing data. Beyond consumers, the
internet of food, clothes, transportation and many others will be pervasive.
Consumer power
▪ The dispersal of authority to consumers via social media has led to every consumer having a separate but
Story of one potentially powerful voice.
Consumer centricity
▪ Consumers expect their digital experience to be unique and customised to them no matter where they
go. Companies will need to provide unique experience or they will lose these customers.
Enhanced engagement
▪ The metaverse will likely enhance everything we currently do online. From immersive 3D worlds to tours
The
of distant places, our online experiences will never be the same again.
metaverse
▪ The concept of the metaverse is currently in flux and many pioneering companies are seeking to shape it.
First movers will have the advantage of acquiring digital assets and shaping our metaverse experience.
INTRODUCTION 11
11
Opportunities and challenges

Opportunities Challenges
▪ The launch of Matter, an open-source industry standard, will ▪ Inflation is the immediate challenge to increased
accelerate adoption of smart appliances, electronics and adoption of smart digital technology, potentially
related services. The forecast market for smart home related delaying realisation of market potential by 2-3 years.
products in 2030 is expected to be greater than USD600 ▪ For smart homes, standardisation has always been a
billion. challenge. However, with Matter’s launch in 2022,
▪ Digital living will enable consumers to live more sustainably. with the backing by most of the major players, this
Estimated net reduction in costs of running a smart home challenge has hopefully been resolved for the medium
can be greater than 70%. term.
▪ Personalisation will be greatly accelerated by digitalisation. ▪ Consumers need to be convinced of the value they
Consumers will gain access to personalised health, fitness, derive from digital living. In 2023, LG reported that
medical, meal and many other services. More than 50% of less than half of its smart appliances stay connected to
respondents in Euromonitor’s Lifestyles Survey 2023 want the internet.
products and services that are personalised. ▪ Digital fatigue and privacy concerns are an ever-
▪ On-demand services will become quicker and more varied. present challenge to digital living.
Consumers will depend on these services in more aspects of ▪ Using on-demand services such as DoorDash,
their lives. UberEats or FoodPanda used to be cheaper than going
▪ Investments in the metaverse doubled to USD160 billion in to the restaurants due to high subsidies. However, the
2022 and have the potential to generate trillions in value reverse is true now. This will likely result in restrained
over the next 10 years. growth.
INTRODUCTION 12
Digital Living: What to focus on

While privacy concerns abound, hyper-personalisation is key to providing an enhanced
digital experience that consumers now expect. Investing in technology such as artificial
Hyper-personalisation intelligence will become paramount to enable companies and brands to better synthesise
and incorporate mounds of data to create more personalised consumer experiences in
the next era of digital living.
Since the “everything on demand” trend was popularised by Amazon back in 2005,
“everything on demand” has evolved to become a necessity for many consumers.
Everything on demand
Businesses must accommodate consumers’ “on demand” needs as they expand across
the whole customer journey and all aspects of their lives.
Our relationship with the home was fundamentally changed by the COVID-19 pandemic.
The home is now the office, school, restaurant, gym and cinema; a protective barrier to
The future home
the “outside”. The future home will have to emphasise a design beyond just “roof over
your head”, creating more of a digital hub for living, hygiene, health and ageing-in-place.
The metaverse will be the digital manifestation of many parts of our physical lives,
resulting in virtual worlds where we can work, play, relax and socialise.
The metaverse
First movers will have the advantage of acquiring digital assets and shaping our very first
immersive metaverse experience. They get to be the pioneers.
Digital Living: always on
DIGITAL LIVING: ALWAYS ON 14
14
Hyperconnected “always on” digital lives bring the expectation of instant gratification
Digital living consumers are often characterised by their hyperconnected “always on” lives. Their overreliance on digital technology has led
to their lives revolving around their phones. Their phones manage their lives now; socially, financially, entertainment, work, medical, and
shopping. For many consumers, losing their phone feels like losing a part of their lives.
This overreliance on “always on” digital technology has also shortened attention spans and brings the expectation of instant gratification,
be it for goods or services.
Life on demand Consumers’ attention span has shortened

significantly; we now expect everything to
Always on
happen almost instantaneously, be it
Internet of everything services or online deliveries.
Consumer power
Consumer centricity
Enhanced engagement
The metaverse
15
The immediacy of shopping online appeals to our “life on demand” instincts

The potential of on-demand service is immense, with Retail Channel Preferences/Online Shopping Motivations 2023
significant room for growth and innovation. % of respondents
Best price
As consumers increasingly seek convenience and instant
gratification, on-demand services are poised to cater to Free shipping
these evolving needs. It has the potential to disrupt Ability to order at any time, from anywhere
traditional business models across various sectors,
providing new opportunities for start-ups and established Ease and availability of delivery
companies alike. Variety of brands
With advancements in technology, seamless connectivity, Ability to buy products/brands not available in the local market
and a growing gig economy, the on-demand service Immediate purchase
industry is set to expand further, delivering personalised,
Product information, comparison, and reviews at my fingertips
on-demand experiences that transform how we access and
consume goods and services. Ability to access site on different devices (computer, smartphone,…
Euromonitor’s survey results show that, beyond the ability Desired model/version of the product was not available in store
to find best prices and free shipping, which has been Free returns in store
heightened by 2023’s inflationary environment, online
Free returns by mail
shopping is preferred due to its “on demand” nature.
Expedited shipping such as same-day delivery
The ability to order at any time, ease of delivery, the ability
to purchase and most importantly an immediate purchase 0 20 40
(instant checkout) appeal to consumers. Source: Euromonitor Voice of the Consumer: Lifestyles Survey, 2023
16
Consumers are surrounded by on-demand services

In today's fast-paced and digitally connected world, on-demand Major On-Demand Service Apps Categories
services have emerged as a transformative force, reshaping the way
businesses operate and consumers access goods and services. Food and Groceries Delivery
•UberEats, DoorDash, Instacart, FoodPanda, Meituan
From ride-hailing and food delivery to home repairs and virtual
consultations, the on-demand economy has revolutionised Healthcare and Telemedicine
traditional business models, enabling instant gratification and
•Doctor on Demand, WhiteCoat, Teladoc, MDLive
convenience upon the tap of a button.
These innovative platforms connect consumers with a vast network Fitness
of service providers, offering instant access to goods and services at •Peloton, SoulCycle, Apple Fitness+, FitOn, Centr
the touch of a button.
Education
The potential of the on-demand service industry is immense, with
•Udemy, Coursera, CodeAcademy, LinkedIn Learning
significant room for growth and innovation, as consumers
increasingly look for solutions that offer convenience and instant Transportation
gratification. •Uber, Lyft, Grab, Didi, Gojek
All that said, there is a current downturn in traction for on-demand
Crowdfunding
services due to the tech downturn, resulting in the removal of many
of the subsidies consumers were used to. Prices for many services •Kickstarter, Gofundme, Patreon, Indiegogo
have gone up and consumer demand has reduced. We expect this Video streaming
to change when the economic outlook brightens.
•Netflix, Hulu, Disney+, Prime Video, Peacock, HBO Max
17
TaskRabbit is your on-demand handyman

Characteristic
▪ TaskRabbit was founded in 2008 to help people
with household tasks such as furniture
assembly, moving, repairs and more.
▪ It uses a feedback review system giving USD317 bn
consumers an increased level of confidence Global home
improvement
when selecting it as a service provider. market in 2022
Context
▪ TaskRabbit increases transparency for
consumers can compare prices across different
service providers.
>20%
Estimated
growth rate for
▪ This removes the imbalance of power that on-demand
favours service providers home services
market
Image Source: TaskRabbit Consequence
▪ IKEA’s furniture is popular due to its affordability
140,000
The number of
but is mainly flat-packed and has a reputation taskers on the
for sometimes being difficult to assemble. IKEA platform, 60% of
saw the potential of the app, especially as an which were
millennials
added service to its customers and bought
TaskRabbit in 2017. Passport Edition: TaskRabbit
18
Easee allows consumers to take an eye test from the comfort of their homes
Characteristic Most Significant Future Developments for
▪ Dutch tech-firm easee has developed a digital Businesses
Share of respondents
eye test platform that allows users to test their Improving the customer
eyes from home. Easee’s test is the world’s first journey and user experience
CE (European Conformity) clinically proven online
Becoming consumer centric
eye test. Customers receive a prescription Intergrating new
validated by optometrists within 24 hours. technologies
Creating a consistent brand
Context experience across channels
▪ Easee is shaking up the eyewear market by
being at the forefront of digital innovation. The Deepening customer loyalty
Shifting from physical to
tech firm stands out for allowing its customers online platforms
easy-to-access digital services, without the hassle Enhancing product delivery
of travel or appointments. Easee has partnered options
with a number of retailers, including Ace & Tate. Building mobile presence
Consequence
Enhancing cybersecurity
▪ Consumers are looking for a seamless provision Diversifying payment
for online research and in-store know-how. options
Retailers partnering with tech firms such as
Digitalising the supply chain
easee, which offer consumers easy-to-access
Image Source: easee.online 0 50 100
online eye tests, are therefore likely to continue
gaining market share. Passport Edition: TaskRabbit
19
The internet of everything means hyperconnectivity and data generation
Life on demand
Always on
Consumer power Consumers are always connected,

continuously generating and sharing
Digital Living Story of one data. Beyond consumers, the internet of
food, clothes, transportation and many
Consumer centricity
others will be pervasive.
Enhanced engagement
The metaverse
20
Everything is being connected, with China leading the way in terms of hyperconnectivity
The internet of everything (IoE) is a concept that has been discussed Smart Devices % of Total Retail Volume Sales, China, 2018-2022
over the past decade. However, due to the high costs of sensors, % of total sales
communication chips, battery technology, edge and cloud 100
computing capabilities, and disparate communication standards, the 90

IoE concept remained at a nascent stage and siloed.
80
However, over the past 3-4 years, IoE has taken off due to the 70
overcoming of the said challenges. Today, in many of our homes,
everything down to the simplest light bulb is now connected. As a 60
result, it is estimated that each person is generating 2MB of data 50
every second.
40
China leads the way in terms of hyperconnectivity, our Passport
30
data for smart devices showing that for categories such as TVs and
robotic vacuum cleaners, almost 100% of the products sold are now 20
smart devices. Growth rates for other appliances categories are also 10
close to double-digit and not showing signs of slowing down.
0
With so much data being generated, consumers may ask what they LCD TVs Robotic Air Purifiers Air Automatic Fridge
are getting from corporations in exchange for their data. Chinese Vacuum Conditioners Washer Freezers
Cleaners Dryers
companies are also leading the way in terms of consumer value-
add. Smart ecosystems in China enable consumers to automate 2018 2019 2020 2021 2022
their homes, monitor energy usage, monitor wellness, automate
Source: Euromonitor Passport
grocery deliveries, and many more.
21
IoE goes beyond connectivity, with focus on services, AI and automation

Over a short span of time, companies have gone from a dearth of
user-generated data to an overabundance. Companies must now
take advantage of this abundance and develop consumer-centric Objects and devices Using generated data
services that take connectivity and convenience to the next level. with embedded to provide on-
sensors that interact demand services
Companies that will win consumers over in the IoE age will be the with the physical
environment
ones that can clearly demonstrate the following:
▪ Consumer benefit: Clearly articulate how consumers can benefit
from sharing data with them. A WSJ article reported that only half things services
of Whirlpool and LG’s smart appliances stay connected, clearly
showing consumer apathy.
▪ Privacy: Allay privacy concerns from consumers sharing their data.
Expert surveys report that China is leading the AI space due to
consumers being comfortable sharing their data. data people
▪ Ease of use: Continue developing products with open-source
common standards. Continued market support for the Matter Device-generated •Consumer-
data that can be used generated data
standard is essential to support IoE. for AI services through everyday
activities on the
Lastly, companies need to work on changing consumer mindset – phone, home etc
many are happy to connect their TVs, speakers and doorbells to the
internet but are reluctant to do the same for their fridges, washing
machines and ovens.
22
Haier’s scenarios use AR to help you build your smart home

Characteristic
▪ Haier’s Tri-wing Bird (TWB) is billed as the world’s
first scenario brand.
▪ It provides consumers with different home design
scenarios for balconies, kitchens, bathrooms and 30.2%
entertainment. Using AR, consumers can visualise shop for
how it will look in real life. household items
and furniture
Context using AR/VR
▪ Haier envisions a future where consumers can
use the TWB app to design their homes using
AR. Easy visualisation of designs reduces errors.
35.1%
tour a potential
▪ Together with thousands of partners, Haier hotel room using
promises a seamless home improvement AR/VR
experience.
Consequence 31.6%
▪ Haier is able to integrate its smart appliances in visualise how
clothes might fit
the home design, thereby having its appliances using AR/VR
“designed-in” by default.
Image Source: Haier
▪ Ownership of the smart home platform provides
a direct consumer relationship resulting in Passport Edition: Euromonitor Voice of the Consumer:
future servicing and upsell opportunities. Digital Survey 2023
Digital Living: story of one
DIGITAL LIVING: STORY OF ONE 24
24
Consumers want to feel unique and seek personalised experiences

Consumers have gone from having shared experiences at home, watching TV or playing board games, to a hyper-personalised experience.
Our phones are now the second most used device to watch streaming content. Every consumer’s Amazon homepage is customised to their
historical shopping experiences and predictions on what else they will buy. TikTok, with its customised “for you page”(FYP), is the epitome
of the current hyper-personalised experience. Every FYP is determined by thousands of variables based on user interactions, video
information, and device and account settings. No two FYPs are the same.
Hyper-personalised experiences make consumers feel special and enable companies to provide tailored experiences.
Life on demand
Always on
The dispersal of authority to consumers
via social media has led to every
consumer having a separate but
Consumer power potentially powerful voice.
Consumer centricity
Enhanced engagement
The metaverse
25
Any story can go viral, giving consumers an asymmetric power versus corporations
The story of one, consumer power, is focused on the asymmetric power that consumers now have in product stories.
Consumers have a bigger voice than ever through social media, often putting business at a disadvantage when dictating how their products’
stories are told. This asymmetric power comes from the ability for any consumer’s story to go viral, with negative stories usually dominating
the narrative.
When making purchasing decisions, consumers are more informed, many having conducted extensive research. Often, consumers are more
knowledgeable than retail staff. Companies are engaging with consumers more on social platforms, building relationships with them in
order to both gain knowledge and influence their narratives. This engagement must happen from pre- to post-product sale. For many
products, customer reviews are the basis for future customer acquisition potential.
With companies highly reliant on technology to engage consumers, investments have increased substantially. Our surveys show that digital
engagement is the biggest trend influencing digital commerce in 2023.
26
Consumers’ focus on sustainability has led to a change in corporate focus

Consumers have become increasingly vocal about companies fostering a Top 10 Consumers’ Social and Environmental Actions 2023
“throw-away” culture or planned obsolescence. Through green activities % of respondents
and purchasing decisions, many are voicing their preference for products Reduce food waste
that are designed sustainably. Sustainability is part of a broader ESG push.
Sustainability has traditionally been seen by companies as a cost; it is Reduce plastics use
easier to glue a toaster housing than incorporate additional screws.

Recycle items
However, glueing a toaster shut means low repairability; if anything
breaks, the appliance will need to be discarded. Reduce my energy consumption/use
more energy efficient products
With sustainability becoming an increasingly important purchase criterion
Use less water
for consumers, companies have put greater focus on sustainable designs
as well as corporate operations and policies. Shareholders and investors Use sustainable packaging (refillable,
are also using sustainability criteria for investment decisions. recyclable, biodegradable or…
Repair broken items, rather than
Externally, CEOs are bullish about their company’s sustainability replacing
credentials. Many have touted their sustainability strategies and how they Reduce my carbon emissions by driving
will lead their company to the next level of growth. To quote BSH at less or taking public transportation
CES2021, “Sustainability and profitability are not in conflict any longer, Reduce meat consumption
they become two sides of the same coin. Saving is saving, and cutting
materials, waste and impacts helps the profit line as well as sustainability Choose not to fly when travelling
metrics.” In BSH’s case, its worldwide production has been climate-
neutral since 2020 (Scope 1 and 2). 0 10 20 30 40 50 60
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2023
27
Each SHEIN Haul video influences other consumers to shop more

Characteristic
▪ SHEIN, valued at over USD60 billion, is the
largest online fashion company that most have
never heard of. It is billed as the leader in the
new generation of fast fashion. USD3-5
▪ SHEIN hauls are the videos influencers create to Average price of
showcase the products they buy on SHEIN. SHEIN items on
the platform
Context
▪ SHEIN hauls started on social media, where
influencers model heaps of new clothing
purchased on SHEIN for a fraction of what it 74.7 mn
would cost elsewhere. Active global
users. 13.7
▪ Even with a low unit price, SHEIN hauls can cost million in the US.
a few hundred dollars. However, influencers
make it seem worthwhile.
Consequence USD30 bn
▪ First-time users of SHEIN will receive at least Revenues in
three promotions for their first three purchases. 2022. It was only
Thereafter, many will become hooked. USD0.61 billion
in 2016.
▪ Consumers who view SHEIN haul videos are
Image Source: SHEIN then encouraged to splurge on buying more Passport Edition: Euromonitor Voice of the Consumer:
items due to a low unit price. Lifestyles Survey 2023
28
Consumers expect a customised digital experience, no matter where they go
Life on demand
Always on
Consumer power
Consumers expect their digital experience
Consumer centricity to be unique and customised to them no
matter where they go. Companies will
Enhanced engagement need to provide unique experiences or
they will lose these customers.
The metaverse
29
Livestreaming gives each consumer the feeling of centricity and community

Livestreaming and live shopping saw a boom as a result of the Reasons for Using Livestream or Live Selling 2023
pandemic. Consumers simply love livestreaming and live % of respondents
shopping.
Easier to understand product or service
Euromonitor surveys show that the ease of understanding features
product features, watching live demos, and getting live feedback
Discounts from the brand
keeps consumers engaged and ensures that they feel
comfortable with their purchases. It is not surprising then that, Enjoy exploring new ways of shopping
compared to other e-commerce formats, livestream conversion
rates are 3-5 times higher. Ability to see live demos
It is also not surprising that TikTok, whose sister app is Douyin –
To discover new brands, products or services
the king of livestreaming in China, dominates the market.
According to TikTok, more than 50% of users say that TikTok Ability to see live feedback from other
inspires them to shop even when they have no initial intention buyers
to shop beforehand. Ability to ask the host questions live
Livestreaming purchases is even more pervasive in China, where
Feel more connected to the product or
it was estimated that close to 50% of online shoppers will service than other online shopping
purchase via livestream in 2023. The sense of community the platform
While most older consumers may still prefer traditional e- creates
commerce or brick-and-mortar retail, livestreaming is clearly 0 20 40 60

gaining market share through its focus on consumer centricity. Source: Euromonitor Voice of the Consumer: Digital Survey 2023
30
Automated kitchens of the future are being designed to cater to individual diets
As consumer diets have become specific, diets have also become more varied. From gluten-free to ketogenic diets to veganism, food
preparation has become an exercise in customisation. This consumer centricity has led to many kitchen innovations geared towards
personalised meals and diets. Automated kitchens of the future will enable a greater level of consumer customisation and convenience.
1 Consumers select recipes based on portions, nutritional

information, diets and available ingredients. The choice might
1 2
Groceries and be influenced by social media. Missing ingredients can be
Meal Kits ordered. Meal kits with weekly meal plans provide further meal
Smart Kitchen 1 customisation opportunities.
1 Platform Storage Preparation
2 Based on the recipes selected in (1), settings will be pre-loaded
Indoor 1 by ovens, mixers and/or multifunctional cookers.
Farming
Frozen items can now be placed in ovens to start the defrosting
Online
process, with mealtimes pre-set for optimal defrosting settings.
Recipes
Cleaning Cooking 3
5 Based on individual mealtimes, notifications will be sent to
Storage 3 consumers to prepare. Ovens will also start being pre-heated.
Step-by-step instructions will be provided on-screen.
Waste
4 Dishwasher settings will be determined by the type of food
Food Waste Smart Toilet prepared and the number of portions.
5 To close the automated kitchen loop, and as part of continued

4 health monitoring, analysis of human excreta from toilets will be
Other Waste Water Recovery
needed. This provides opportunities to further customise
Data exchange
consumer diets based on bodily measurements.
31
Stitch Fix combines AI algorithms with human stylists

Characteristic Purchase Channels for Apparel and
▪ Stitch Fix is an online personal styling service that Accessories 2020/2021
% of respondents
uses a combination of AI algorithms and human
stylists to provide clients with outfit 60%
recommendations.
▪ Quizzes, “Style Shuffles” and rejected pieces inform 50%
future suggestions through machine learning.
Context 40%
▪ While the AI algorithm allows for speed and
efficiency within the business, customers are still 30%
able to connect with human stylists to give input
as to their preferences. This balance remains 20%
important to consumers, particularly as AI
technologies are continuously improving. 10%
Consequence
▪ Stitch Fix combines the capabilities of AI and 0%
human touch in a meaningful way. As the world In person Online on Online on Online on Online on
Image Source: Stitch Fix becomes increasingly digital, this balance will be at the phone computer tablet another
store device
important for businesses to maintain. 2023 2021
Passport Edition: Euromonitor Voice of the Consumer:
Lifestyles Survey 2023
Digital Living: the metaverse
DIGITAL LIVING: THE METAVERSE 33
33
The metaverse brings the digital world to life

Consumers often spend more time on their devices than interacting with their surroundings. As the line between physical and digital
becomes increasingly blurred, consumers are expecting an improved virtual experience. The metaverse was developed to facilitate this –
with better virtual play, relaxation, and socialising experience, where interactions are immersive and realistic.
While most consumers see the metaverse as a way to escape the real world and experience something new online, the platform serves a
higher purpose in the long run, to complement and improve every single aspect of our “real” life.
Life on demand
Always on The metaverse will likely enhance
Internet of everything everything we currently do online.
From immersive 3D worlds to tours of
Consumer power distant places, our online experiences
will never be the same again.
Consumer centricity
Enhanced engagement
The metaverse
34
The current state of the metaverse

Gaming remains the biggest driver of metaverse usage as most
consumers’ first exposure is through video games like Fortnite or Roblox.
This is crucial because most of the engaged audience are Generations Z
and Alpha, who will form over 50% of the world’s population in 10 years
and will drive future purchases. For example, Roblox had over 200
million monthly users in 2022, but only 14% are over 25 years old.
The fashion industry is investing heavily in the metaverse to increase
engagement and build relationships, especially with younger audiences. Gaming remains the Fashion brands see
Brands are releasing cheap virtual products with the hope that, one day, metaverse entry point for metaverse as the future
these young consumers will buy the products in real life. It is also seen the next generation
as good and cost-effective advertising, where brands can get millions of
views in a short span of time. For example, Dior’s digital trainer got over
2.3 million views on a much smaller budget than traditional advertising.
Manufacturers across all industries are making their presence in the
metaverse count with the platform seen as a creative space to engage
future consumers. For example, Coca-Cola released digital collectibles
and virtual concerts to build a young community around its brand.
However, despite the promise of the metaverse, many tech giants such
as Meta and Tencent are significantly cutting costs on their metaverse Big companies are making Tech slowdown finds
projects due to current macroeconomic headwinds. This will impact their presence count many cutting down
uptake in the short term. investment
35
“Enhanced engagement” in the virtual world appeals to younger audiences

Consumers’ attention to metaverse has generally been driven by a desire Use Augmented or Virtual Reality to Enhance
to experience “enhanced engagement” in their daily online activity, My Shopping Experience At Least Once a Week
% of respondent
allowing them to do their activities seamlessly from the comfort of their
home. “Enhanced engagement” translates to a fully immersive experience 25
where there is a “real and genuine” relationship between consumers and
brands that supersedes the transaction. It allows brands and consumers to
20
learn more about each other and establish a long-term relationship.
Having a platform that is not limited by space or time allows brands in the
metaverse to have continuous engagement with consumers. It will not be 15
affected by 11.00-21.00hrs store operating hours or a 30km drive to the
nearest shopping centre. Consumers can have the best experience at their
10
convenience.
According to Euromonitor’s Lifestyles Survey, there is significant growth in
respondents across all age groups who are using AR to enhance their 5
shopping experience at least weekly. Millennials and Generation Z are the
most engaged, with over 20% of respondents, as many are actively using
0
AR and VR to “try on” clothes in virtual fitting rooms or digitally seeing
2019 2023
how potential furniture would look in their home. While this is still in the
early stage, further engagement is expected in the next 10 years as more Baby Boomers Generation X
brands start building and developing their metaverse platform. Generation Z Millennials

36
Despite high interest, actual engagement in the metaverse remains low

While the metaverse only gained interest in recent years, many Consumers’ Interest in Virtual Activities 2023
people are already showing interest in what it can do, or at least % of respondents
giving it a try. According to Euromonitor’s Lifestyles Survey,
Wear a VR headset and explore travel
exploring travel destinations and trying a new product or service destination before booking
before purchase has become the top interest for consumers.
Consumers have realised that these activities are here to stay Try out a new product or service in a
virtual world before buying
beyond the pandemic and explore ways to better immerse
themselves in the metaverse environment. "Walk" through a virtual aisle to select and
purchase products
Despite many consumers showing interest in the metaverse and
corporations exploring ways for “enhanced engagement”, regular Play an online video game in which you
engagement on metaverse platforms remains low. Euromonitor’s are immersed in a virtual environment
survey results show that only 21% of Generation Z and 23% of
Enter a holistic, immersive virtual world
millennials currently engage in metaverse platforms while the and take part in an experience
number is lower than 15% for the older generation.
Interact with others in an immersive
Low usage comes down to high cost for consumers and early-stage virtual world, rather than in-person
development from the corporations’ side. Having to spend Buy digital versions of clothing or
hundreds of dollars for a good VR headset is not resonating with accessories to outfit an avatar in a virtual
consumers, especially with the limited content available. Using AR world
for online stores and buying digital tokens also drew scepticism 0 5 10 15 20 25 30 35 40 45
from many as use cases are limited.
37
Building “enhanced engagement” for the future

Talking about “now” in the metaverse might seem like a Different Types of Enhanced Engagement in the Metaverse
stretch as usage remains low, despite efforts to increase
engagement and the declared interest from consumers. But Gaming
focusing on “enhanced engagement” today remains crucial • Roblox, Fortnite, Horizon Worlds, Decentraland
for manufacturers to be relevant in the future. As technology
improves and Generation Z starts accumulating wealth, usage Tourism
and spend on the metaverse platforms will accelerate.
• Metaverse Seoul, Qatar Airways Qverse, Singapore Merlion’s virtual
In the future, use cases will no longer be limited to just vacation
gaming and shopping, but have a greater variety of activities.
Imagine being able to travel around the world, getting
Shopping
medical diagnosis, or watching a pop concert, all from the • Nike, Gucci, Samsung, Coca-Cola
comfort of home. The metaverse will eventually be a place to
work, play, relax and socialise virtually, perhaps even more Digital twin (Industrial)
than time spent in the real world. Hollywood films such as • Amazon, BMW, PepsiCo, Lowe’s
Ready Player One and Free Guy are already alluding to this
possibility. Medical
Eventually, the goal of metaverse is “enhanced engagement”. • HealthBlocks, XRHealth, Sympatient, SentiAR
To develop a metaverse playbook is never about just creating
a digital token or online avatar in a virtual world. It is about Entertainment and media
how brands can connect with their consumers on a personal
level without the boundary of space and time. • Virtual concert, VR theme park, Virtual live events
38
Samsung: Smartphone launch in the metaverse could set the trend moving forward
Characteristic
▪ Samsung held its latest Galaxy S22 smartphone
release in the Decentraland metaverse,
attracting over 100,000 users.
▪ It followed it up with a treasure hunt campaign 20.0%
where visitors can get limited virtual items for Samsung
smartphones’
free when visiting. global market
Context share in 2022
▪ The release was meant to engage millennial and
Generation Z users by offering a personalised
experience in the virtual world.
41.0%
try out a new
product or
▪ The platform is also meant to introduce more of service in a
Samsung’s products, eventually encouraging virtual world
consumers to purchase the product in real life. before buying
Consequence
▪ While the launch was successful and received 24.1%
of millennials
much positive feedback, it also had some engage in
technical issues such as the site crashing and metaverse
glitches preventing consumers from entering. platforms
Image Source: Samsung However, as the technology improves, similar Passport Edition: Euromonitor Voice of the Consumer:
launches are expected in the future. Lifestyles Survey 2023
39
Tencent: Building metaverse ecosystem around its portfolio

Characteristic
▪ Tencent has ambitious plans to expand its
metaverse ecosystem with investments in smart
retail, social media, video games and audio.
▪ The focus is to engage virtual reality and 37.0%
augmented reality across its product portfolio, have used either
virtual reality
while strengthening its content offering. (VR) or
Context augmented
▪ Tencent is currently the number one video games reality (AR)
company in the world with a 13.2% share. It also
invested in Roblox and Epic which many see as the
38.6%
interested in
face of metaverse in gaming. This gives Tencent an entering a
edge as video games will be the first metaverse holistic,
immersive
content most people engage in. virtual world
Consequence
▪ Ambitions have met an obstacle as the tech 41.0%
play an online
downturn has led to cost cutting. This has game immersed
resulted in a pivot with Tencent pulling out of in a virtual
acquiring gaming phone company, Black Shark, environment
Image Source: Nasdaq, Business Today and scrapped plans for VR hardware, both Passport Edition: Euromonitor Voice of the Consumer:
crucial pieces of Tencent’s metaverse roadmap. Lifestyles Survey 2023
40
Companies are moving fast to shape our metaverse experience
Life on demand
Always on
Consumer power
Consumer centricity The concept of the metaverse is currently
in flux and many pioneering companies are
seeking to shape it. First movers will have
Enhanced engagement the advantage of acquiring digital assets
The metaverse and shaping our metaverse experience.
41
The metaverse hardware market has the vibe of the smartphone market in its early days
When it comes to the metaverse, while it is relatively easy to define its purpose of “enhanced
engagement”, the execution of this remains undetermined. Different companies have a different
metaverse vision. Facebook changed its name to Meta to outline its metaverse agenda while Apple has
not positioned its latest Vision Pro headset as “virtual reality” or “metaverse ecosystem” but rather a
“spatial computer”. Apple has generally restrained itself from talking about VR and metaverse while
praising augmented reality as the future.
The VR headset is another great example where companies like HTC, Sony and Meta have developed it
for a certain purpose with limited cross-compatibility of device and content. It is not possible to do
console gaming with Meta Quest Pro while PlayStation VR is not going to work with PC games. This
currently hinders consumers from investing big money on it. Different manufacturers simply have a
different vision for their device and there is currently no one-size-fits-all.
As the concept of the metaverse is still in flux in the short to medium term, manufacturers today can be
the first movers and shape the platform, giving them a shot at being the market leader. Seamless
integration with AR/VR is important to explore as the technology is the entry point to the metaverse.
Compatibility is also crucial as the metaverse platform and its content should be easily accessible with
any of consumers’ devices.
Among consumers, the current high price of VR headsets is restrictive for many; however, like their
eventual acceptance of the high prices of iPhone when apps increased their value proposition, the same
will be the case for VR headsets. With the current AR/VR market very fragmented, evoking memories of
the early days of the smartphone market, brands which are able to shape the narrative will dominate.
Source: Bloomberg
42
The industry values metaverse contribution for today’s performance

As tech companies started building their AR/VR and metaverse platforms, brands are having the “first-mover” mindset, investing millions of
dollars on AR/VR ecosystems. It is surprising that, despite a slowdown in metaverse hype, the industry still feels that AR/VR is impacting
them today or will have an impact in the next 12 months. In fact, there are a small number of respondents who only foresee the impact in
five years, further emphasising the first-mover advantage.
In the next 12 months, over 43.2% of the industry expected to replicate physical experience online using AR/VR, while 38.8% expected
purchase transactions to be made with the help of AR/VR. Companies are valuing the metaverse as an essential part of their business and
foresee that it will impact their sales result even today. This means that consumers will only see more of the metaverse affecting the way
that they shop and live in 2023.
43
Importance of AI in metaverse development

The rise of ChatGPT has elevated the popularity of Technologies Impacting Business in the Next Five Years
Generative AI. Consumers are exploring how they can use it % of respondents
in their day-to-day lives, and businesses see it as the most Artificial Intelligence
impactful tech in the next five years.
Internet of things
While many question the future of the metaverse, it is crucial
Cloud
to realise that AI will eventually help the metaverse reach its
full potential with the technology helping enhance Augmented/virtual reality
communication and interaction between consumers and Robotics/automation
manufacturers. For example, VR manufacturers are working
5G networks
on gesture recognition and eye tracking to help create a
seamless consumer experience with the help of AI and Blockchain
machine learning. GPS tracking
Furthermore, AI and machine learning are both crucial in the Barcodes/Global trade item numbers
development of industrial metaverse, the other side of the Biometrics
metaverse that most consumers are not aware of. Industrial
3D printing
metaverse is mainly used to improve the processes and
products within a company to enhance productivity by Edge computing
mapping a “digital twin” using all the technologies Autonomous cars
mentioned above. With the low penetration of this
technology, investing in it will give the first-mover advantage 0 10 20 30 40 50 60 70
that manufacturers need in the metaverse race. Source: Euromonitor Voice of the Industry: Digital Survey, 2023
44
Digital twin is key to build a metaverse ecosystem

Digital twin is basically a model of a physical object that is created in a virtual environment with all the details that allow it to function just
like it does in real life. The technology uses real-time data to create the most updated virtual model of a system or object and proceeds to
use it as a simulator, generating further improvements or testing for any possible errors/flaws.
According to Euromonitor’s Voice of the Industry survey, over 30% of manufacturers think that AI will impact how they handle customer
service requests, fulfilment and logistics, and product development in the next 12 months. This is made possible by having a digital twin
system using AI. Moving forward, consumers can expect a faster, more customised experience.
While manufacturers’ focus for digital twin today is for process and product enhancement as well as increasing efficiency, there is no
denying that the system can be applied in their interaction with consumers. For example, an apparel store can use a digital twin system to
enhance its product positioning in stores and manage product cycle, but at the same time use the digital map for consumers to “walk” in
the store aisles virtually.
45
Lowe’s: Reinventing retail with industrial metaverse (digital twin)

Characteristic
▪ Lowe’s collaborated with NVIDIA to build a
digital twin of its store to ease the process of
restocking and store layout optimisation. It also
has X-ray vision to help store associates see the USD652 bn
product tag without checking the box and Global home
looking for small labels. furnishings
market in 2022
Context
▪ The system can gather data on sales
performance and customer traffic to determine 67.9%
of industry
product placement to give the optimal shopper players think that
experience. It can also simulate the outcome if a AI will impact
store is set up differently, whether it will be their fulfilment
and logistics
convenient for both customers and staff.
Consequence 55.6%
▪ Lowe’s also uses this system to create 3D of industry
players think that
products to share and use in the metaverse AI will improve
customer
▪ Industrial metaverse/digital twin is on the rise engagement
and manufacturers are expecting all industries
Image Source: NVIDIA, Retail Leaders to eventually use it soon. Passport Edition: Home and Garden 2023ed; Euromonitor
Voice of the Consumer: Lifestyles Survey 2023
46
Roblox: Integration of Generative AI in the metaverse

Characteristic
▪ Roblox remains one of the biggest metaverses
of today and has high engagement within
Generations Z and Alpha. In 2023, the Roblox
studio released two new AI tools enabling
anyone to generate code easily to create
50.5%
of the world’s
designs just by describing what they want. population in
2033 will be
Context Generations Z
▪ Incorporating Generative AI in line with popular and Alpha
tools such as ChatGPT will help promote the USD167 bn
platform as a learning and creation tool. Global video
games revenue
in 2022
Consequence
▪ Tapping into the Generative AI trend can help 41%
play an online
maintain the hype around the metaverse. game immersed
in a virtual
Image Source: Roblox ▪ Gaming remains an entry point to metaverse for environment
most, especially for Generations Z and Alpha.
Incorporating new tech is crucial for Passport Edition: Toys and Games 2023ed; Euromonitor
Voice of the Consumer: Lifestyles Survey 2023
engagement.
Implications for future growth
IMPLICATIONS FOR FUTURE GROWTH 48
48
Digital Living will be one of the fastest growing trends in the next 10 years
Euromonitor's proprietary Megatrends Quantification Model, which quantifies consumers’ propensity to spend towards megatrends,
predicts that, in the next 10 years, spend on products and services relating to Digital Living will grow by more than 10% in per capita terms.
This growth will happen as more areas of our lives become digital. For example, wearable health will likely take off, consumer health will be
tracked down to every single activity, and health advice provided instantaneously. Our homes will also become smarter and more
automated through the usage of a common smart home standard.
In the next decade, the metaverse and AI will become pervasive and be part of our daily lives. These tools will increase our productivity and
enable greater levels of virtual experiences from our homes. Generative AI services will also speed up the emergence of new platforms to
host a new generation of apps for consumers and businesses, unlocking the new internet age. It is not surprising then that many believe we
are on the cusp of another once-in-a-decade technological leap.
Comparative Megatrend, Forecast CAGR 2022-2032

% of respondents
16
14
12
10
8
6
4
2
0
Pursuit Of Value Experience More Premiumisation Diversity And Wellness Personalisation Sustainable Living Shopper Digital Living Convenience
Inclusion Reinvented
Source: Euromonitor Megatrends Quantification Model, 2023
49
Growth will come from Middle East and Africa and Eastern Europe
In the next 10 years, growth in Digital Living is expected to come Digital Living, Forecast CAGR 2022-2032
from regions that have been relative growth laggards in the last five CAGR 2022-2032
years.
Middle East and Africa
Euromonitor’s Megatrends Quantification Model predicts that
Middle East and Africa and Eastern Europe will be the regions Eastern Europe
seeing the strongest growth in per capita spend towards digital
living, for several reasons. Both regions, but especially African North America
countries, have been slower to adopt Digital Living trends due to the
costs and affordability, as well as accessibility, and infrastructure.
Latin America
However, incomes and employment levels are rising in these
regions, investment in infrastructure continues and more affordable
Western Europe
devices are being made available, driving growth in spending on
digital lifestyles.
World
North America is expected to continue to see double-digit growth in
spending on digital living although it will be at the bleeding edge.
Asia Pacific
The Asia Pacific region’s growth will moderate to about 10% as it
had experienced high growth of ~15% for 2020-2022. The market is Australasia
also expected to reach the mature stage faster than the other
regions as consumers in the region of some early adopters of digital 0 2 4 6 8 10 12 14 16
lifestyles.
Source: Euromonitor Megatrends Quantification Model, 2023
50
Digital Living in smart homes has huge opportunity as consumers demand more connectivity
Fully automated and AI- Smart sustainability at home Experiential living at home Companion home
enabled homes
The launch of a common The residential sector is one The concept of home has The home will evolve beyond
standard, Matter, in 2022 will of the largest emitters of morphed into a place where just a place to live; it will
enable devices to be greenhouse gases, thus one can relax and have fun. become our companion. The
connected and automated, sustainability needs to start The influx of smart devices home will provide valuable
leading to significant at home. Rising utility prices and the metaverse will services throughout our lives.
opportunities for companies will ensure that more transform homes into
to provide value-added consumers choose entertainment hubs.
services and experiences. sustainable products.
>3 >USD600 bn 75%

SMART DEVICES PER PERSON IN 2023 POTENTIAL MARKET SIZE FOR SMART HOME OF COMPANIES SURVEYED IN 2023 BELIEVE
RELATED PRODUCTS IN 2030 AR/VR WILL ENHANCE PATH TO PURCHASE
51
Privacy worries will continue to be a challenge to digital living

For consumers, being connected has gone from a luxury to a Digital Actions to Maintain Privacy 2023
necessity. It is simply much easier to do things digitally. The CAGR 2022-2032
pandemic has clearly accelerated this trend – for example,
Used a privacy-focused browser
digital payment rates have increased to above 40% in some
countries. Used my social network log-in details to log
in to other websites
While most consumers enjoy being connected, there is a
growing trend towards consumers resisting being “always on”. Opted out of personalized ads
This has evolved to a digital detox that many consumers use to
Opted out of data tracking as offered by
disconnect from their digital lives and focus on the physical some companies
world.
Actively managed how much personal data
Data privacy is another aspect that consumers have been that I share with companies
worried about for many years. Euromonitor surveys show that Deleted social media accounts that I do not
using a privacy browser, opting out of personalised ads and use very often
tracking are among the actions used to maintain privacy. I have not taken any of the above actions
A more worrying trend for corporations is that some consumers
have gone to the extreme. In the same survey, 23% of Enabled Do Not Track mode in my browser
consumers say that they have deleted inactive accounts.
Evaluated a company’s privacy stance
With data the new black gold of the 21st century, corporations
need to find ways to convince consumers to share more, 0 10 20 30
because without data, there is no Big Data or machine learning. Source: Euromonitor Voice of the Consumer: Digital Survey 2023
52
Key takeaways
Everything on demand
Consumers have asymmetric power
Consumers expect everything to
There is no single vision of the
happen almost instantaneously. Every consumer story has the
metaverse. This fragmentation is an
Especially for urgent issues such as potential to go viral, and it is usually
opportunity for first movers to create
support requests, shortening bad experiences that do. Companies
a network effect.
turnaround times for customer are at a disadvantage as they are
Similarly, the hardware market is
requests will be essential. publicly compared against each other.
fragmented, with the vibe of the
Companies which are unable to deliver A responsive and engaged corporate
smartphone market in its early days.
on this experience will risk losing PR will be critical for businesses selling
First movers have the chance to shape
customers. to the Digital Living consumer.
the industry to consumer preferences.
53
Leverage the power of megatrends to shape your strategy today
Today’s environment of fast-paced change makes it more challenging than ever to keep up with competitors.
The importance of Megatrend analysis helps businesses better anticipate market developments and lead both incremental and
megatrend analysis disruptive change for their industries. Euromonitor’s white paper “Megatrend Analysis: Putting the Consumer
at the Heart of Business” provides instructions on how to conduct megatrend analysis for your business.
Don’t miss our other Wellness, Sustainable Living, Experience More, Premiumisation, Diversity and Inclusion, Shopper Reinvented,
megatrend reports Pursuit of Value, Personalisation, Convenience
In addition to education and awareness, Euromonitor International partners with businesses to quantify the
How Euromonitor current and forecast impact of megatrends, prioritising which megatrends and industry/category-level trends
Consulting can help to innovate against and the next steps for the company. To learn more about how we can activate megatrend
analysis at your company, please visit http://www.euromonitor.com/consulting-consultation-request.
MEGATRENDS: DIGITAL LIVING – A FRAMEWORK FOR THE FUTURE
For Further Insight please contact
Tim Chuah
Head of Consumer Appliances
tim.chuah@euromonitor.com
https://www.linkedin.com/in/timchuah/
Jason Tjiptadi
Consultant
Jason.tjiptadi@euromonitor.com
https://www.linkedin.com/in/jasontjiptadi/
Other contributors: Natasha Cazin
Euromonitor International network and coverage
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The data included in this report are accurate according to

Digital Living: Always on

Digital Living: Story of one

Digital Living: The metaverse

Implications for future growth

Megatrends: Digital Living – A Framework for the Future

This report is part of Euromonitor

Leaders harness megatrends to disrupt a market

The rise of Digital Living

help of technology, it is now entirely possible for consumers to live 80

The pillars of Digital Living

Digital Living Story of one

The pillars of Digital Living in detail

Opportunities and challenges

Digital Living: What to focus on

Life on demand Consumers’ attention span has shortened

The immediacy of shopping online appeals to our “life on demand” instincts

companies alike. Variety of brands

Consumers are surrounded by on-demand services

TaskRabbit is your on-demand handyman

The internet of everything means hyperconnectivity and data generation

Consumer power Consumers are always connected,

computing capabilities, and disparate communication standards, the 90

IoE goes beyond connectivity, with focus on services, AI and automation

Haier’s scenarios use AR to help you build your smart home

Consumers want to feel unique and seek personalised experiences

Consumers’ focus on sustainability has led to a change in corporate focus

easier to glue a toaster housing than incorporate additional screws.

Each SHEIN Haul video influences other consumers to shop more

Consumers expect a customised digital experience, no matter where they go

Livestreaming gives each consumer the feeling of centricity and community

commerce or brick-and-mortar retail, livestreaming is clearly 0 20 40 60

1 Consumers select recipes based on portions, nutritional

5 To close the automated kitchen loop, and as part of continued

Stitch Fix combines AI algorithms with human stylists

The metaverse brings the digital world to life

The current state of the metaverse

“Enhanced engagement” in the virtual world appeals to younger audiences

Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2023

Despite high interest, actual engagement in the metaverse remains low

Building “enhanced engagement” for the future

Tencent: Building metaverse ecosystem around its portfolio

Companies are moving fast to shape our metaverse experience

The industry values metaverse contribution for today’s performance

Importance of AI in metaverse development

Digital twin is key to build a metaverse ecosystem

Lowe’s: Reinventing retail with industrial metaverse (digital twin)

Roblox: Integration of Generative AI in the metaverse

Comparative Megatrend, Forecast CAGR 2022-2032

>3 >USD600 bn 75%

Privacy worries will continue to be a challenge to digital living

Leverage the power of megatrends to shape your strategy today

For Further Insight please contact

Other contributors: Natasha Cazin

Euromonitor International network and coverage