Global Consumer Trends 2024
What does the future hold?
Find out more about the key trends in the Consumer sector and how they could impact your business.
Click on each tile to read the full insight
Horizon scanning
Top tips for protecting your supply chain
Geopolitical instability, the effects of climate change and a growingly protectionist attitude to trade from many governments has resulted in increasingly vulnerable international supply chains. While the COVID-19 pandemic marked the pinnacle in supply chain fragility, it appears that these risk issues may now be more persistent.
Sustainability in focus
Transparency as a responsible business force for good
Employee activism is on the rise – are you ready for it?
Green clauses in contracts
Green claims – all risk, what reward?
Sustainability in focus
The special administration regime and consumer hardship
Special administrators must strike a balance between supporting creditors facing financial hardship and upholding pari passu principles.
A global perspective on people and employment
The Consumer sector remains as fast-paced as ever, with ongoing labour supply challenges, changing customer behaviour related to cost of living and sustainability, and a rapid growth in technology. As expected, Consumer sector organisations are rising to the challenge.
Shopping in a post-COVID world, re-purposing, and demanding children
Following the world's leading international retail property event (MAPIC), bringing together the retail, food, leisure and tech communities from across the globe under one roof – we look at the future of retail.
The use of facial recognition in the Retail Sector
The deployment of Facial Recognition Technology (FRT) has come under increasing scrutiny and there is no sign of this trend easing in 2024, particularly as the uptake of this technology grows.
The future of Class Action funding
In July 2023, the Supreme Court handed down judgment in PACCAR, which rocked the class action claimant funding market. With time and several decisions since, does PACCAR really make any difference or will the claimant march continue?
How food is produced, supplied and consumed is changing globally. These changes come from a range of pressures, including pressing concerns for the environmental impact, food security, health and nutrition as well as the lifestyles, behaviours and preferences of consumers.
The future of food – will the regulatory regime keep up?
Since COVID, we have all become more acclimatised to fast-paced regulatory change. Whilst during the pandemic this often meant significant daily changes, now it appears that almost every policy area is ripe for change, consultations and regulatory updates or proposals.
Will 2024 see further tsunami of regulatory change?
As the clock ticks down towards the inevitable UK election by the end of January 2025 at the latest, it feels as if government is starting to slow – just waiting for the date to be announced. The UK is not alone, with EU elections in June, the US in the autumn and about another 63 countries expected to go to the polls this year.
2024 – the year of the election, why does that matter?
The Consumer Protection from Unfair Trading Regulations (CPRs) have implemented the EU's Unfair Commercial Practices Directive since 2008 and regulated all types of commercial practice – from product descriptions, claims and marketing, to ways of selling, price promotions and much more.
The DMCC – a potential game changer for product claims and advertising.
As is often the case with history, fashion or music, if you wait long enough something that was a new fad 15-20 years ago may be popular again. Civil sanctions are perhaps this year's regulatory equivalent.
The end of regulatory prosecutions – will civil sanctions take over?
On January 1, 2024, changes in the area of e-commerce have come into effect, aiming to strengthen cooperation between tax administrations and payment service providers.
New Polish tax regulations to combat e-commerce VAT fraud
In 2024 and beyond, businesses will need to leverage horizon scanning programs as the backbone for proactive compliance. Fostering innovation and ethical strategies can allow to navigate sustainability regulations, while securing a competitive edge.
Decoding horizon scanning programs – ESG navigation in the Consumer sector
As voluntary and mandatory sustainability requirements continue to grow, and consumer demand for sustainability and responsible business practices escalate, now is the time for consumer sector companies to fine-tune their sustainability strategies and disclose their actions with transparency and integrity.
Transparency as a responsible business force for good
Well-being, culture and working conditions will be high on agenda for leadership, as employees put more focus on diversity, equity and inclusion. This trend is prominent in the Consumer sector, where people are at the heart of sustainable performance and growth.
Employee activism is on the rise – are you ready for it?
While not a new concept, green clauses are most prevalent in property contracts and their evolution provides lessons learnt for wider application of green clauses in the consumer supply chain.
Green clauses in contracts
You do not need to be a green claims or even an advertising specialist to know that environmental claims will remain a focal point in the next 12 months. So what is next for green claims in 2024?
Green claims – all risk, what reward?
Need support in navigating the change?
Get in touch today
Dominic Watkins
Partner, Head of Consumer Sector
T: +44 (0)207 645 9591
M: +44 (0)7734 508634
E: dominic.watkins@dwf.law
The end of regulatory prosecutions – will civil sanctions take over?
New Polish tax regulations to combat e-commerce VAT fraud
Decoding horizon scanning programs – ESG navigation in the Consumer sector
The future of food – will the regulatory regime keep up?
Will 2024 see further tsunami of regulatory change?
2024 – the year of the election, why does that matter?
The DMCC – a potential game changer for product claims and advertising.
Doing the right thing is not just good for business, it is good business. But, with a huge amount of regulatory change and public scrutiny, this is becoming more and more challenging. Our sustainability hub tackles some of the key issues facing the Consumer sector.
Sustainability in focus