Summary
As consumer trends drive innovation and purchase behavior it is increasingly vital to understand how to shape products to best meet them. This brief outlines the most important consumer and product trends impacting the OTC category globally, using Canadean's TrendSights mega-trend framework as a basis to organize the key themes covered.
Synopsis
- Each section contains a concise SWOT analysis that outlines how each TrendSights mega-trend can be applied to the OTC category.
- Consumer insight analysis covering 20 countries globally highlights the key attitudes and behaviors driving consumers' purchase of OTC products
- Case studies and numerous product examples throughout the brief showcase best-in-class innovations in OTC products from across the globe.
- Key considerations and potential opportunities have been identified based on consumer preferences and recent product innovations in this category.
Reasons To Buy
- How do Canadean's mega-trends apply specifically to OTC? How is this likely to evolve over the next few years?
- Where is innovation occurring in OTC and what does it look like?
- Going forward, what are some of the potential opportunities and key considerations for OTC manufacturers?
- How are industry players using the online space to more effectively engage with consumers?
Key Highlights
Traditional medicine is the fastest growing sub-category within OTC, predicted to grow by 5.1% per year between 2012 and 2017. This is being driven by strong demand in emerging markets and a greater interest in "natural" ingredients and alternative therapies in developed markets.
Value for money, rather than low pricing, is the most highly influential factor among consumers shopping for OTC globally. In emerging markets, trust and familiarity in the brand is the most influential factor.
Data provided in easy-to-use tables in Excel
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