Loungewear at work, a boom in pet accessories, and an emerging new generation of young e-entrepreneurs are just some of the trends that will emerge, or grow in 2022, as many Australians continue to earn a living from home, relocate out of cities, and take precautions to reduce their risk of viral infections.
The forecasts come from Davie Group CEO, Davie Fogarty, behind brands including The Oodie, Calming Blankets and Pupnaps. Fogarty was also recently added to the AFR Young Rich List, with Davie Group having turned over $182 million in FY21.
The impact of the pandemic has seen more Australians embrace the indoors, changing their behaviour and clothing choices as a result. Businesses are similarly pivoting to meet these new needs, while the emergence of new technologies is drumming up consumer demand in new areas, while also helping young entrepreneurs break into different industries easily and successfully,” Fogarty said.
Here’s his nine consumer trends for 2022.
- Loungewear will enter workplaces and social lives. Now that hybrid working arrangements are widespread, more Australians will place an importance on, and invest in, lounge-style clothing, such as slouchy pants, track pants, sweats, tees and comfortable slip-ons or sneakers. There will be some ‘blurring’ between what is worn to bed or for lounging around at home, and what is worn out. Seeking comfort over fashion will be embraced more widely as people and their employers become more used to people earning a living from home.
- Pet accessories will boom. Pet ownership has increased significantly in the last two years, with more than two-thirds (69%) of Australians now owning pets, and 19% of pet dogs and 24% of pet cats obtained during the pandemic, according to data from Animal Medicines Australia.
- Bedrooms will become decentralised. Australians will move away from the bedroom as a place solely for rest and relaxation, as rooms become multi-functional. Australians will move to other areas of the house to read, relax and nap. More people will invest in accessories usually associated with bedrooms – such as pillows, cushions, throws and candles for living rooms, decks, rumpus rooms, studies or outdoor living areas.
- Self-care will become a priority. More Australians will prioritise their mental health and self-care needs to de-stress and reduce anxiety over the next year. Consumer demand for products and services that deliver on comfort, wellness and happiness will grow in 2022. Consumers will seek physical products that provide relaxation and a means of ‘escape’, along with experiences and services, such as spa treatments.
- Online shopping will grow steadily. More consumers and retailers have moved online over the last two years. While growth will slow during summer, retailers will increase their investment in the online shopping experience in 2022, and more shoppers will remain online. More brands will embrace different platforms to attract new customers and sales. Viral social content designed to convert sales will grow, particularly as apps such as Tik Tok rise in popularity.
- Outdoor activities and social gatherings will become more popular. More Australians have been embracing outdoor spaces, which are less affected by lockdowns and present lower infection risks. This trend will continue in 2022, along with demand for outdoor equipment and products.
- Nights in will be the default. While more Australians will enjoy the outdoors during the day, nights in will continue in 2022. Australians became accustomed to staying in during the pandemic, improving their homes to increase their enjoyment at home. More Australians will shift their focus to entertaining in the home with home entertainment and homewares heavily invested in rather than spend on social outfits and nights out at restaurants.
- Younger generations will gravitate towards eCommerce entrepreneurship. There will be a growing appetite among young Australians for entrepreneurship, particularly in the eCommerce world as barriers of entry shrink. It is easier and more affordable than ever to start an eCommerce business.
- More brands will accept crypto. Cryptocurrency gained significant momentum in 2021 and it will become an accepted payment method by more businesses in 2022 and beyond.