Learn more about macro and micro trends including the key differences.
Now that we’ve explored the difference between industry and consumer trends and discovered how tracking these trends can positively impact business and career decisions, let’s turn our attention to macro and micro trends.
Macro trends refer to major shifts in consumer behaviour that will direct the business landscape in the long term. They have a cross-industry impact and evolve over time.
Examples of previous global macro trends include the adoption of social media or catering to the ageing population.
Micro trends refer to smaller/niche shifts in consumer behaviour that are changing the business landscape in the short-term. They are usually linked to the underlying values and behaviours associated with macro trends.
Examples of previous global micro trends include boutique boxing studios or subscription-based snack boxes.
As we’ve already demonstrated, by identifying trends, companies or individuals can arm themselves with the foresight and confidence needed to inspire innovation, establish measured approaches, and create even deeper connections with the consumers of tomorrow.
However, the key with macro and micro trends is being able to connect the dots between each trend and what’s driving it. This way, trends can be translated into the DNA of a business in a way that makes sense, not only for the brand but its potential customers too.
Let’s dig deeper into this approach by looking at three current macro trends and their drivers.
The New Digital Consumer
The Trend: The new digital consumer is embracing more digital products and services, adopting different modes of communication and forming online communities. What’s more, they don’t plan on giving these behaviours up.
Within this new landscape, a brand’s digital capabilities can no longer be viewed as a ‘nice-to-have’ but rather a ‘non-negotiable’, as consumers increasingly align themselves with products and services they are confident will be able to serve their needs whenever and wherever they want.
The Drivers: Driven by technological advances over the past two decades, the widespread adoption of social media, smartphones and the internet, consumers have steadily become more connected, comfortable, and informed about the benefits of engaging with digital offerings.
However, the forced migration to digital brought on by the coronavirus pandemic has accelerated this trend, shifting it from a niche to a mainstream consumer movement.
Green & Clean
The Trend: The plant-based and clean beauty revolutions have been steadily building momentum over the past decade and in doing so, have helped to fuel the explosive growth of the multi-trillion-dollar wellness industry.
Millennials and Gen Z continue to lead this shift towards more responsible and ‘better for you’ consumption, which is driving the pace of innovation across both sectors.
The Drivers: Perceived health benefits, environmental factors and an association with purpose-led values all rank as the top reasons for consumers buying into green and clean brands. However, the coronavirus pandemic has also led to a redefinition of value that goes beyond these core pillars. These pertain to safety, longevity and efficacy, as well as engagement in dominant movements such as collective consciousness, inclusivity and social responsibility.
Mental Wellness
The Trend: In just a few short years, mental health has risen to prominence and cemented itself as one of the major pillars of consumers’ relationships with wellness.
New narratives around mental wellness have emerged in response just as the shift from treatment to prevention mentality. Within this new paradigm, mental health is being considered more broadly – on a sliding scale – to encompass not only diagnosed health conditions but also one’s constantly evolving psychological state.
The Drivers: This shift in awareness has been driven by high-profile campaigns, celebrities sharing their struggles with different forms of mental illness, and the steady build-up of anxiety-inducing social conditions, including political unrest, climate change and hyper-connectivity (to name but a few).
Further, as more health-conscious generations gravitate towards a holistic approach to wellness underpinned by the mind-body connection, this is sparking a mainstream revolution.
What do you think?
Are any of the macro trends we’ve spotlighted here relevant to you or your career? How might you apply them to your business/profession?
If not, think about a wellness business you use. How could that business leverage any of these macro trends in a meaningful or relevant way?
References
[1] Anatomy of a Trend
FAQs
A macrotrend is a pervasive and persistent shift in the direction of some phenomenon on a global level. Examples of current macrotrends include urbanization, automation and changing demographics.
How do you identify macro trends? ›
Macro trends refer to major shifts in consumer behaviour that will direct the business landscape in the long term. They have a cross-industry impact and evolve over time. Examples of previous global macro trends include the adoption of social media or catering to the ageing population.
What are macro trends in economy? ›
A macro trend indicator is a time series of information states regarding a meaningful economic trend that can be mapped to the performance of tradable assets or derivatives positions.
What are the macro trends in the workforce? ›
Three of the most significant macro trends that are currently influencing the labor market are aging populations, infrastructure development and retrofitting, and the need for content development and management. Aging populations are a major concern for businesses, as people are living longer and working longer.
What are the six macro trend components? ›
Six components of macro environment are Demographic, Economic, Natural, Technological, Political and Cultural environments.
Which is an example of macro? ›
A macro in excel is a series of instructions in the form of code that helps automate manual tasks, thereby saving time. Excel executes those instructions in a step-by-step manner on the given data. For example, it can be used to automate repetitive tasks such as summation, cell formatting, information copying, etc.
Why macro trend is important? ›
Macro trends have the power to cause relevant changes in the social, political, technological, economic, and cultural environment, and have a direct impact on our consumption habits. For this reason, the macro trends is also known as the bottom trend.
Is social media a macrotrend? ›
Macrotrend. Something that has a significant impact on society over a five to ten-year period and is known and understood by most people. Social media is an example of a macrotrend as is the mainstreaming of AI.
What is the difference between macro trend and micro trend? ›
Micro and macro trends
A micro trend typically lasts 3 to 5 years. A macro trend, like social media has become lasts longer more in the 5 to 10 year range. A style of dress may be a fad that only affects one segment of the population, but the use of social media is a trend that reaches a broader segment.
What are 3 macro economic indicators? ›
Macroeconomic analysis broadly focuses on three things—national output (measured by gross domestic product), unemployment, and inflation, which we look at below.
Currently, one of the biggest macro trends being discussed globally today is climate change.
What are the 4 key macroeconomic ideas? ›
Four key economic concepts—scarcity, supply and demand, costs and benefits, and incentives—can help explain many decisions that humans make.
What are macro lifestyle trends? ›
The four macro trends identified by TrendBible for 2024 are Democratizing Domesticity, Hybridized Home, Rise of Rental and Circular Thinking. Traditional living arrangements and nuclear families are becoming less common as “consumers are adjusting their living situations like never before,” Usher said.
What are your macro targets? ›
The National Institute of Health has a very cool calculator to help you figure this out. Then, it's time to do some macro math. The National Academies of Science, Engineering and Medicine recommends adults try to get 10-35 percent of your calories from protein, 45-65 percent from carbs and 20-35 percent from fats.
What are micro and macro trends in business? ›
A macro-trend is the exact opposite of a micro-trend. It's a trend that rises slowly and stays around for at least 10-15 years before falling. Macro-trends in fashion can be seen in wardrobe staples as well as trends associated with different decades (shoulder pads in the 80s, bell-bottoms in the 70s, etc.).
What are the 5 macro factors? ›
In contrast, the macro environment refers to broader factors that can affect a business. Examples of these factors include demographic, ecological, political, economic, socio-cultural, and technological factors.
What is an example of macro in business? ›
Macro environment refers to the external forces within an economy. Macro environment factors like inflation, fiscal policy, monetary policy, consumer spending, GDP, and employment rates considerably affect business operations.
How do you define a macro? ›
Macro in c is defined by the #define directive. Macro is a name given to a piece of code, so whenever the compiler encounters a macro in a program, it will replace it with the macro value. In the macro definition, the macros are not terminated by the semicolon(;).
What do you mean by macros? ›
Macros are used to make a sequence of computing instructions available to the programmer as a single program statement, making the programming task less tedious and less error-prone. (Thus, they are called "macros" because a "big" block of code can be expanded from a "small" sequence of characters.)
How long do macro trends last? ›
–Macro trends last three to five years. -Mega trends last a decade or longer.
Trends exist through a constant cycle of innovation and emulation. It's the way people embrace one another and interact with each other. People are obsessed with trends because joining a trend means you're part of a group; you are in, you belong. “Some changes are short-lived and they are normally called fads.
What are the macro consumer trends in 2023? ›
In 2023, consumers will seek transparency in products, packaging, transportation, and ingredients alongside a growing interest in sustainability.
What are the four 4 categories of trends? ›
Entrepreneurs should observe at least four types of trends—economic, social, technological and regulatory—to identify business opportunities and grow their startups. By paying close attention to economic trends, they can identify areas that are ripe for new ideas.
What are macro media examples? ›
What is Macro Content?
- Blogs.
- Websites.
- Email newsletters.
- Mobile applications.
Categorizing trends / Mega, Macro, Micro, Fads.
Is TikTok a microtrend? ›
Microtrends have only become prominent in the fashion industry with the rise of TikTok, as the algorithm allows millions of people to see the same video showing off a certain style, giving a platform to more trends that may be presented through #ootds, hauls, sponsored posts, or #grwms.
What are the two types of trends? ›
What are the Different Types of Trends?
- Uptrend.
- Downtrend.
- Sideways trend.
A trend is what's hip or popular at a certain point in time. While a trend usually refers to a certain style in fashion or entertainment, there could be a trend toward warmer temperatures (if people are following trends associated with global warming).
What are the key macro indicators? ›
Key Takeaways
Macroeconomic indicators vary in frequency, impact, and meaning. They include things like: interest rates announcements, GDP, consumer price index, employment indicators, retail sales, monetary policy, and more. Macroeconomic indicators may cause increased volatility in the financial markets.
What are positive macroeconomic factors? ›
Positive macroeconomic factors include events that subsequently foster prosperity and economic growth within a single nation or a group of nations. For example, a decrease in fuel prices within the U.S. might drive consumers to purchase more retail goods and services.
By 2030, there will be more than a billion over 65s: 12% of the global population, up from about 8.5% in 2015. Two- thirds of us will live in cities – and a growing number, particularly in Africa and Asia, in megacities (though megacities are expected to account for less than 10% of the total urban population).
What are the six macro environmental factors that influence change? ›
DEPEST refers to the six broad factors affecting the macroeconomy – Demographic, Ecological, Political, Economic, Socio-cultural, and Technological.
What are mega trends and micro trends? ›
Megatrends are significant overarching trends that change societies and industries. Microtrends all the patterns you notice in the detail. They're the small shifts that have the potential to cause significant changes or small changes.
Who runs macro trends? ›
Karen Harris, managing director of Bain's Macro Trends Group, returns to the show for a conversation on interest rates, inflation, bank runs, and a “weird” mix of economic indicators.
How accurate is macro trends? ›
Our data is 100% reliable and accurate since it is sourced from the Bureau of Labour Economics in the U.S. and the World Bank.
What is a macro routine? ›
A macro diet involves counting the intake of three macronutrients — proteins, fats, and carbohydrates. First, a person works out their daily calorie needs, then they divide the calories into proportions, such as 10–35% proteins, 20–35% fats, and 45–65% carbs.
What are the 7 types of macronutrients? ›
These are carbohydrates, proteins, fats, vitamins, minerals, fibre and water. It is important that everyone consumes these seven nutrients on a daily basis to help them build their bodies and maintain their health.
What are the three most important macros? ›
Carbohydrates, fat and protein are called macronutrients. They are the nutrients you use in the largest amounts.
How do I set my macro goals? ›
Tips for adjusting macronutrient goals:
Reduce carbohydrates to 35-45%, increase protein to 30-35% and keep fat around 20-25%. Looking to gain muscle? Aim for 25-35% protein, 40-55% carbs, and 15-25% fat.
What are the different types of trends? ›
There are three main types of trends: short-, intermediate- and long-term.
a general development or change in a situation or in the way that people are behaving: Surveys show a trend away from home-ownership and toward rented accommodation. There's been a downward/upward trend in sales in the last few years. Whatever the latest fashion trend, you can be sure Nicki will be wearing it.
What are the elements of a trend? ›
The three fundamental elements – basic needs, external change and innovations – will help you understand consumer trends. But sensing where and how these come together to form new levels of customer expectation will help you act on trends.
What are macro customer trends? ›
"Consumer macro trends are summaries of often complex and interrelated shifts in consumer behavior. All of these aspects of consumer behavior are dynamic and specific change drivers, and all of them impact technology markets."
What are examples of macro marketing? ›
Macro-marketing Examples
A car-repairing small business manager may use macro-marketing to reach out to car owners through social media advertising platforms, instead of waiting for customers at the repair shop. Targeting a general number of customers will promote positive customer behavior patterns.
What is a micro trend and examples? ›
Microtrends have a duration, on average, of 1 to 5 years. For example, initiatives such as To Good To Go, Inglorious fruits and vegetables and Forgotten fruit. These signals have something in common: they all offer a solution against food waste. That's why they together form a Microtrend.
What is macro trends in fashion? ›
A macro-trend is the exact opposite of a micro-trend. It's a trend that rises slowly and stays around for at least 10-15 years before falling. Macro-trends in fashion can be seen in wardrobe staples as well as trends associated with different decades (shoulder pads in the 80s, bell-bottoms in the 70s, etc.).
What does macro mean in marketing? ›
Specifically, macromarketing refers to how product, price, place, and promotion—the four Ps of marketing—create demand for goods and services, and thus influence what products or services are produced and sold.
What is the difference between micro trends and macro trends? ›
Micro and macro trends
Trends are a bit slower paced but represent something that is occurring on a much wider scale than a fad. A micro trend typically lasts 3 to 5 years. A macro trend, like social media has become lasts longer more in the 5 to 10 year range.
What are 3 examples of macro environment? ›
Macro environment factors like inflation, fiscal policy, monetary policy, consumer spending, GDP, and employment rates considerably affect business operations. Governments and institutions strategize policies based on these factors.
What are 5 examples of mega trends? ›
PwC examines five key megatrends: Shift in Global Economic Power, Demographic Change, Rapid Urbanization, Rise of Technology, and Climate Change/Resource Scarcity.
4 Types of Trends: Trend, Seasonal, Cyclical and Irregular.
