What is important about megatrend analysis?
Our world is changing. Today is not as yesterday.
After watching The founder, the Michael Keaton film on how McDonald’s was founded, you can figure how the ambitious and visionary Ray Kroc (played superbly by Keaton) identified the megatrends and took advantage of them.
“Successfully identifying, analyzing and acting on megatrends is essential for success in consumer markets.
The world is changing faster than ever, and it is becoming increasingly difficult to keep up with competitors as technology spurs both the rate of and access to innovation.
Amidst this change, it is difficult for companies to understand why industries are evolving in the way they are today, much less predict how the will evolve into the future”, says the analysis from Euromonitor International, Megatrend Analysis, putting the consumer at the heart of business, directed by Sarah Boumphrey, director, Economies and Consumers and Zandi Brehmer, head of Client Innovation at Euromonitor International.
Both analysts from Euromonitor International recommend that to ensure all relevant megatrends are being captured, it is important to think holistically and create an overarching framework. This is their four-step process:
