You’ve made up your mind, this is the year you’re going for it! Now all you need to do is find the right business idea, the one that will make you the entrepreneur everyone’s talking about in 2024. What are the big trends in the market?
1/ Small is beautiful!
In a world marked by an overabundance of offerings and omnipresent advertising, people are increasingly rejecting hyperconsumption. Consequences: brands that are closer to their customers and on a human scale are on the rise. Small neighborhood supermarkets, which are less impersonal than hypermarkets (and which, having fewer items on the shelves, are less likely to encourage buying), are benefiting from this trend, for example. Brands that seem less “marketed” and more intimate are thus coming out on top.
2/ The quest for meaning
Tired of consuming too much, people want to consume better. This is the advent of brands that integrate a “fair,” “care,” solidarity, or equitable dimension into their offer. The generosity incorporated into the very act of consuming allows customers to find meaning in the act of buying. In 2024, consumption is expected to evolve towards a search for meaning. Consumers are looking to buy in a more thoughtful and responsible way. This is reflected in the emergence of brands that integrate ethical and altruistic values into their offer. These brands go beyond products and services. They emphasize fairness, caring, solidarity, and sustainability.
Consumers are increasingly inclined to support these brands. Indeed, they allow them to give a deeper meaning to their purchases. This is done by aligning them with their personal values and their desire to contribute to a more responsible society. This evolution transforms consumption into a generous and meaningful act, marking a profound change in the way companies and consumers interact with the commercial world.
3/ Simplicity
A major underlying trend this year: consumers are looking above all for simplicity of use for products/services. To make it big this year, keep it simple, make it effective! The Anglo-Saxons refer to the K.I.S.S. principle as the key to business today: Keep it simple stupid. No need to try to do too much, or to adorn your offer with multiple options. A single use, easy to understand, and well-crafted will be enough to make your success. This trend towards simplification is also reflected in design.
4/ Low cost and luxury!
Inflation requires that all offers stamped “low cost” stand out from the crowd. We are even seeing today traditional economy players launch into low cost. If low cost has been a major trend for several years now, the continuity in 2024 is a general upgrading of low-cost offers. The reason for this is the arrival on the low-cost market of new consumers who are not really used to consuming low-end products, and are therefore more demanding. We are therefore seeing the emergence of “premium low cost” offers, where very chic stores sell glasses at knockdown prices. Another trend: low cost specializing in very specific niches, offering tablets at very low cost. On the other hand, we are seeing that the luxury market is doing very well. Brands positioned at the high end are also experiencing a boom at the moment.
5/ Customer experience
In 2023, consumption evolved towards a search for meaningful customer experience. Consumers are no longer content with simple purchases; they expect brands to offer them an immersive and multisensory shopping experience. This trend highlights the digitization of points of sale, where consumers interact with technologies such as augmented reality and mobile applications. The aim is to create memorable moments and arouse emotions, from music to lighting to smell. Brands seek to establish emotional connections with customers by making shopping an engaging experience, beyond the acquisition of products. This places the customer experience at the heart of the business strategy, thus strengthening customer loyalty and satisfaction.
6/ Gamification
Gaming is everywhere! We are talking in particular about the rise of gamification in the recruitment processes of large companies, in e-learning or in communication. Products themselves are now also becoming more playful.
In 2024, gamification, which consists of integrating game elements into non-playful contexts, is expected to expand further in various fields. It is increasingly used in recruitment, online learning (e-learning), and communication. Companies incorporate game mechanics to stimulate the engagement of candidates, students, and the public. In addition, gamification extends to the products themselves, making them more interactive and engaging for consumers. This trend transforms the way we live, work, and learn by integrating playful elements into our daily lives.
7/ Cocooning
Faced with the financial difficulties linked to the health crisis, people have taken to staying home, in their cocoons. As a result, businesses that facilitate cocooning are doing very well. We are thinking here, for example, of all the home meal delivery solutions such as Grubhub. And since we are staying home more often, we want our interiors to be beautiful and always at the cutting edge of trends. Decoration sites are therefore benefiting from this craze for cocooning.
8/ The search for a good deal
Today’s consumer is a savvy customer who knows how to use the Internet to find the cheapest products and the best bargains. Businesses that surf on this search for good deals therefore continue to be successful. And sites and shops specialized in the resale of second-hand products are experiencing a boom. The trend towards free offers is stronger than ever. The freemium business model seems to be the big trend in 2024.
9/ Well-being and health
2024 will be healthy or it won’t be! We are currently witnessing a real boom in all the solutions that help people maintain their health. We are talking about the trend of “DIY Health” (self-controlled health) with increasingly sophisticated medical apps. On the side of health prevention, services and products related to maintaining well-being or that allow people to de-stress are doing very well. Businesses related to sports are a hit! Not to mention the zumba business, which has made its inventors a fortune!
10/ An ultra-connected world
One of the major challenges of this beginning of the century is the construction of “smart cities.” These cities benefit from connected infrastructures and equipment with the aim of improving the comfort of the inhabitants and the efficiency of communications. All the technologies related to the construction of these connected cities will develop considerably in the years to come.
11/ Back to the roots
Renewal of Made in France and the fashion for craftsmanship: it’s simple, everything that is authentic sells! Consumers are looking for real and good products, even if they have to pay more for them. This search for authenticity leads consumers to particularly appreciate everything that comes from craftsmanship. Finally, we cannot ignore the tidal wave of Made in France, made fashionable by a certain Arnaud Montebourg and his sailor’s shirt.
12/ The business of ego
Do you know what interests the consumer in 2024? Himself! All businesses that allow people to make their tastes, choices, or even their photos public are experiencing strong growth. This is the case for startups like Pinterest, Instagram or TikTok. In 2024, it is no longer the customer who adheres to an offer, it is the offer that adapts to the customer!
13/ Lightness
As a consequence of a rather gloomy era when newspapers only relay bad news, consumers are looking for brands that bring them a little lightness. Brands that don’t take themselves seriously and that brighten up everyday life have everything to gain this year.
14/ Servile business
In 2024, to stand out, a company must be generous and based on ultra-service to customers. If this trend has been emerging for years, the novelty in 2013 is that the company must now offer personalized services, by predicting the needs of its customers. For example, large companies have set up a whole data analysis system capable of predicting the desires and needs of consumers, based on their previous purchasing experiences. It is no longer the customer who has to tell the company what he needs, it is the company that has to offer the customer exactly what he needs.
15/ Life-facilitating businesses
In 2024, consumer expectations are rooted in a major concern: the search for services and products that simplify their daily lives. The solutions that are enjoying resounding success today are those that address the real needs of customers in an innovative and pragmatic way. The companies that stand out are those that develop practical and intelligent solutions to improve the lives of their customers. These companies are true life facilitators, offering services and products that simplify everyday tasks and improve quality of life.
16/ Traditional sectors renovated
A key factor for gaining a foothold in the market in 2024 is to take an existing service and completely reinvent it. To do this, several approaches are available to visionary companies. They can introduce radical innovations that fundamentally transform an established product or service. They can also explore synergies by merging different types of services to create hybrid solutions. In addition, a winning strategy is to offer “express” versions of existing services, specially designed to meet the needs of city dwellers in a hurry, thus offering unparalleled convenience in traditional sectors.
