Global News and Digital Insights
for the Consumer Goods Industry

February 14, 2022

2022 is the year to embrace Valentine’s Day due to three trends

As per the results of Prosper Insights & Analytics annual survey and NRF, American consumers have celebrated this Valentine’s Day extravagantly by spending $175. The total amount spent during this holiday reached $23.9 billion. NRF pointed out three trends encouraging Americans to celebrate Valentine’s Day 2022 with zest. 1, Among 73% of the consumers, 66% of them embraced Valentine’s Day, 2022 by spending over $100 on gifts for significant others because they were looking for a change in a tension-driven world. 2, Both men and women have surprised their partners with diamonds this year, instead of chocolates and flowers. Men (30%), while females (14%) have spent $75 and $24, respectively on jewellery. 3, Despite the omicron variant, 30% of consumers have enjoyed the day outside, either by going to a concert, relaxing at a spa or relishing the thrills of sky diving. Read more from Nrf

The future plan: China is on the way to develop more innovative products

China’s Industry Ministry suggested a plan for CG companies that will help them produce more innovative products, like a robot vacuum cleaner and smart rice cooker. The guidelines presented by The Ministry of Industry and Information Technology (MIIT) are designed for the light industry, which includes organizations producing consumer goods items and tools. The category (light industry) encountered supply shortages for mid-to-high-end items in the past years and lacks global famous brands, which is why MIIT is now paying more attention to it. By 2025, it is anticipated that Chinese brands’ value will upgrade and the country will secure a prominent position in the global manufacturing value chain. Read more from Reuters

2022 is the year to embrace Valentine’s Day due to three trends

As per the results of Prosper Insights & Analytics annual survey and NRF, American consumers have celebrated this Valentine’s Day extravagantly by spending $175. The total amount spent during this holiday reached $23.9 billion. NRF pointed out three trends encouraging Americans to celebrate Valentine’s Day 2022 with zest. 1, Among 73% of the consumers, 66% of them embraced Valentine’s Day, 2022 by spending over $100 on gifts for significant others because they were looking for a change in a tension-driven world. 2, Both men and women have surprised their partners with diamonds this year, instead of chocolates and flowers. Men (30%), while females (14%) have spent $75 and $24, respectively on jewellery. 3, Despite the omicron variant, 30% of consumers have enjoyed the day outside, either by going to a concert, relaxing at a spa or relishing the thrills of sky diving. Read more from Nrf

The future plan: China is on the way to develop more innovative products

China’s Industry Ministry suggested a plan for CG companies that will help them produce more innovative products, like a robot vacuum cleaner and smart rice cooker. The guidelines presented by The Ministry of Industry and Information Technology (MIIT) are designed for the light industry, which includes organizations producing consumer goods items and tools. The category (light industry) encountered supply shortages for mid-to-high-end items in the past years and lacks global famous brands, which is why MIIT is now paying more attention to it. By 2025, it is anticipated that Chinese brands’ value will upgrade and the country will secure a prominent position in the global manufacturing value chain. Read more from Reuters