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‘Rich Lister’ Davie Fogarty Shares 2022 Consumer Trend Predictions

‘Rich Lister’ Davie Fogarty Shares 2022 Consumer Trend Predictions
B&T Magazine
Edited by B&T Magazine
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Loungewear at work, a boom in pet accessories, and an emerging new generation of young e-entrepreneurs are just some of the trends that will emerge, or grow further next year according to forecasts by e-commerce entrepreneur, Davie Fogarty (main photo).

Fogarty is the founder and CEO of Davie Group, the growing e-commerce platform and brands owner behind cult favourite brands The Oodie, Calming Blankets and Pupnaps.

The group recently turned over $A182 million in FY21, placing Fogarty on the AFR’s Young Rich List.

But the young entrepreneur has his eyes forward, predicating several consumer trends to emerge in the new year off the back of pandemic-related circumstances, including remote work, regional relocation, and individual health precautions.

“The impact of the COVID pandemic has seen more Australians embrace the indoors, changing their behaviour and clothing choices as a result,” said Fogarty.

“Businesses are similarly pivoting to meet these new needs, while the emergence of new technologies is drumming up consumer demand in new areas, while also helping young entrepreneurs break into different industries easily and successfully.”

“At Davie Group, I am looking at ambitious ways to continue expanding our existing brands and acquiring new ones. I expect other business owners to similarly look at how they can evolve, grow and ultimately succeed next year and beyond.”

Fogarty’s nine consumer trends for 2022 are as follows:

1.       Loungewear will enter our workplaces and social lives: On account of workers favouring comfort over fashion in lieu of increased remote working.

2.       Pet accessories will boom: This is unsurprising, considering more people working from home, means more pets. 

3.       Bedrooms will become decentralised: Rooms are now multi-functional, with Fogarty predicting Aussies will spend more money on cushions, blankets and pillows to make other areas of their homes equally comfortable and relaxing.

4.       Self-care will become a priority: Following a tumultuous two years, Aussies will now prioritise mental health and self-care by purchasing physical items that promote comfort, stress-relief and happiness.

5.       Online shopping will grow steadily: Brands will leverage burgeoning apps like TikTok, and social media influencers to drive sales, resulting in more shoppers staying online. 

6.       Outdoor activities and social gatherings will grow in popularity: Aussies will continue to embrace the outdoors, considering exterior spaces are less affected by lockdown and present a lower risk of infection.

7.       Nights in will be the default: It seems trends from the pandemic are yet to wear off, with increased investment in home comfort during lockdowns encouraging more folks to stay in.

8.       Younger generations will gravitate towards eCommerce entrepreneurship: Fogarty says younger Aussies have developed a taste for entrepreneurship, particularly in eCommerce, which is now easier than ever to get involved with.

9.       More brands will accept crypto: Given its rapid growth this year, Fogarty predicts cryptocurrency’s momentum will continue into 2022, becoming an accepted payment method by most brands.

 

 

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