Happy New Year! We hope you had a fun and meaningful New Year holiday! While we at Ritmo Music share and teach music to enthusiastic musicians, we also want to share the lifestyle trends you can look forward to in 2023.
Economic Overview
Inflation was at a high in 2022 globally and will continue to stay for the next few quarters this year. A rising living cost, the ongoing pandemic, and a recession will inevitably cause consumers to be more thrifty.
Tight household budgets affect lifestyles. Consumers have adjusted to the economic environment by adjusting their lifestyle habits. Inflation is also causing global companies to react with cost-cutting measures. All these forces are leading consumers to prioritise mental and physical health pivoting to restricted spending, which turn in has an effect on the trends we will see in 2023.
The Effects of Directed Spending
In a survey by Nielsen IQ, consumers are cutting back on splurges such as dining out, gym memberships, and out-of-home entertainment. Instead, consumers are focusing on day-to-day essentials such as utilities, necessities, and groceries.
With consumers tightening their money belts, food deliveries and other indulgences enjoyed at home will see a cutback. Consumer behaviours across the board will see changes with a reduction in the frequency of shopping and how people choose to maintain a healthy lifestyle.
Digital Detox
In prioritising mental health, people are realising the harm social media can do when there is no control over screen time. People are taking more breaks from social media and taking it as a self-care goal. Behavious such as turning off mobile phones at night and reverting to a traditional alarm clock are becoming popular. People are finding more holistic joy outside their mobile phones by setting healthier digital communication boundaries.
Increase in Social Interaction
Despite a change in spending behaviour, such as cutbacks on unnecessary expenses, more people are looking for physical social interaction. This is caused by two years of restricted socialising during the COVID-19 pandemic. We can expect to see alternative products to releasing energy towards a healthier lifestyle such as microdosing mushrooms and beverages that can bring one to a high without a hangover.
Movement Snacks
There has been a shift in how we are thinking about and going about our fitness regime. More studies are revealing the benefits of breaking up exercise regimens into smaller movement snacks throughout the day. Research found movement snacks to be more beneficial than doing one long workout session.
Perhaps you are already making some of the above changes in your lifestyle this year. We hope you enjoyed this new year’s post from us at Ritmo Music Studio.