Vishnu Singh: 10 hot consumer trends for 2015

20 : 01 : 2015 Ericsson ConsumerLab : CES 2015 : Digital Purse
Visnu Singh, Head of Ericsson ConsumerLab, with Senior Journalist Rowland Manthorpe at International CES 2015

We live in a global internet culture, with global consumer trends driven by innovations in digital technology. More than three-quarters of consumers browse the internet and and half use social media every day, according to Ericsson ConsumerLab’s survey of consumers in 23 countries

Vishnu Singh, director of Ericsson ConsumerLab, joined LS:N Global at International CES to discuss ConsumerLab’s digital consumer trends for 2015. The Sharing Economy and Domestic Robots feature in Ericsson’s report, as does the possibility of non-verbal communication – communication directly from mind to mind.

‘Today you have a lot of wearable devices,’ says Singh. ‘You can wear one of those devices and you can communicate with a loved one about whether you are happy or whether you are sad. I can even try and communicate with other devices in the house: ‘Where did I leave that tv remote?’.’ More than two-thirds of consumers in Ericsson’s survey believe some kind of telepathic communication will be commonplace by 2020, although as Singh notes: ‘A lot needs to happen before something like this really takes off.’

More immediately, Singh highlighted the impact of mobile payment – a third of smartphone owners surveyed by Ericsson believe smartphones should replace cash – and, more broadly, the digital purse. ‘It’s not just the payment, it’s the receipts, the loyalty cards, all the other things you carry with you that will be integrated into the smartphone,’ says Singh. ‘Some 80% of people believe this will be mainstream by 2020.’

Top five take-outs

1. Use your head. Mind-to-mind communication may seem like a distant dream, but projects such as Meditation Nightclub and products such as Thync are making it a reality.

2. Act now on mobile payment. Of all the technology trends, this is perhaps the most important for 2015.

3. Digitise your loyalty card. Watch our interview with Harris + Hoole’s Danielle Anderson to see a company leading the way.

4. Think Flat Age. Consumers are looking to wearables to add years to their life.

5. Manage expectations. Consumers’ hopes are high, perhaps too high. Don’t be afraid to give them a dose of reality.