The Great Escape: Exploring the Rise of the Joy Economy
Consumer escapism trends have been on the rise in recent years. As people seek ways to escape the stresses of daily life, nostalgia, inspiration and aspiration, and self-care have surfaced as key themes in consumer shopping behavior.
For the remainder of 2024 and beyond, there is opportunity for retailers and brands to participate in the joy economy. By delivering products and services reflecting the emotional needs and preferences of today’s shoppers, retailers and brands can offer experiences that drive sales and loyalty.
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WHAT’S INSIDE
More than ever, you need to know how people feel to understand how they’ll shop in the moment. Find out how shoppers are embracing escapism to stay ahead of shifting consumer behaviors:
Nostalgia
Nostalgia is about seeking comfort in tried-and-true brands, products, and experiences that remind consumers of simpler times.
What products and brands fit this moment?
Inspiration and Aspiration
Inspiration and aspiration are about engaging with content, influencers, and activities that
elevate mood and help shoppers achieve their goals.
How can retailers and brands apply creative ideas at scale to drive inspiration and aspiration?
Self-Care
The definition of self-care has expanded and deepened since the pandemic’s heights. Shoppers have shifted from reactive to proactive activities.
How can retailers and brands meet consumer needs, and where are the biggest opportunities?
Circana provides complete visibility into consumer behaviors, covering $4 trillion in global consumer
spending across 26 industries. We change retailer perspectives to accelerate decision-making and grow revenue streams by showing a complete picture of whole categories, cross-category influences, buyer behavior, and more.
Questions? Connect with your Circana account representative or email contactus@circana.com.
