Patterns and major trends are important to spot, as these will ultimately impact your business in one way or another. Technology alone is a major disrupter to many industries just to mention Blockbuster vs. Netflix, Kodak vs. Instagram, iPhone vs. Nokia, Uber vs. Taxi and many more examples. But in this publish my focus is on behaviour trends and how that impacts our society and business in every single aspect.

For decades the consumption of stuff we didn't need has kept the global economy running, smart marketers and companies have educated us to believe that happiness and health came through the purchase of their products - not only for us as individuals for our family, friends and beloved children. The more expensive, luxury items you owned the more successful you are and the more happy will you be. Everybody believed it - directly or indirectly - and 'fell into the consumption trap' that this new car, iPhone, laptop, luxury bag or dress was the most important thing to get in life - brands dictated the agenda of consumer spend and made us happy.

Retail therapy has long been a tool for the stressed-out, brokenhearted or just plain bored consumer

But retail therapy might not work quite in the way consumers assume it works. That's because the happiness that buying something provides is derived not from acquiring the item, or from the item itself, but from the targeting it, wanting it and anticipating its arrival into your life. That is, the electric jolt shopping can provide is a result of the act of desiring, more than the act of fulfilling. 

Meaning: You're better off if you don't buy the outfit, or gadget, or piece of art, but simply long for it.

The evidence: In June 2013, the Journal of Consumer Research published a study finding that when it comes to shopping, wanting things makes people happier than actually having them. Researchers analyzed the emotional state of consumers before and after making a significant purchase. Most, especially those who self-identified as materialists, anticipated future purchases with strong, positive emotions: They felt joy, excitement, optimism and peacefulness when they thought of their future purchase, which they also believed would improve their relationships, boost their self-esteem, enable them to experience more pleasure and be more efficient.

But after the purchase was made, and the anticipation faded into reality, what followed was what the researchers called "hedonic decline." Happy feelings dissipated. Consumers were left wanting more.

If you want to read more check out this Retail therapy: A strategic effort to improve mood.

So are the materialistic decades over? We have for centuries produced and consumed way more than we ever needed and reached the stage where the buy and dispose is at its tipping point. Self storage is the new thing, if you cannot have the stuff in your house, rent space for it - the real cost of owing too much stuff is a great reading - first you buy it and then you pay for having it stored. In the U.S. 9,5% of households had self storage in 2015 and there is 8,32 sqf per capita across 54.000 locations, revenue is forecasted to be $32 billion in 2016. When big box retailers shrink their store foot print this is one of many redevelopment options together with urban Distribution Centres for eCommerce.

So where does all this brings us, for the first time ever the Millennial generation stays in the city, they don't move to suburban areas when they establish family - unless they have to. Millennials are the social generation, both online and in-person. As the founders of the social media movement, they’re never more than a few clicks away from friends and family. And offline, they prefer to live in dense, diverse urban villages where social interaction is just outside their front doors.

They are currently living in these urban areas at a higher rate than any other generation, and 40 percent say they would like to live in an urban area in the future. As a result, for the first time since the 1920s growth in U.S. cities outpaces growth outside of them.

The Millennials shows the way and what to expect in the future as they mature, settle down and establish a family. 

So what's one of the mega trends we are seeing? Many marketers refer to experience as the overarching trend that will impact all industries - in particular in relation to retail and consumption, they advise to focus on experience. But I do believe experience is the wrong expression for what's happening. Where we for decades were focusing on materialistic happiness i.e. stuff outside our body the new trend and amplified by generation(s) Y & Z are related what's 'inside the body' both related to year health i.e. what you eat, how you exercise and live but also how that impacts other people around the world.

Secondly the mind is important i.e. the social aspect is very important and 'sharing is caring' ultimately stimulating true happiness. Thirdly is the experience, not only related to experience when buying things, but more broadly related to memories and trying something new - i.e. travel to a new country, try new things and more. But non-materialistic in the old way of looking at things, there is less products involved - in many cases none.

Simple Definition of experience

1) The process of doing and seeing things andof having things happen to you
2) Skill or knowledge that you get by doing something
3) The length of time that you have spent doing something (such as a particular job)

For the first time ever (2015) in the U.S. - dollars spend on dining surpassed grocery sales.

"Millennials view dining out as a social event (i.e. a chance to connect)," the Restaurant Association advises on their website. "They tend to favor fast food, deli food and pizza restaurants over coffee shops, high-end dining and casual dining. Their diversity and interest in new things draw them to more ethnic restaurants too."

At the same time, older Americans have been expressing less of a willingness to spend on dining out while funneling more cash toward those grocery trips. The share of 51- to 69-year-olds who said they are spending more on groceries compared with a year earlier outstripped those who said they are spending less by 45 percentage points, according to a Gallup survey conducted Nov. 10-20. The share of those baby boomers spending more on "dining out" was smaller than those who said they were purchasing less at restaurants and bars, by 10 percentage points.

So what does this mean for your business. Obviously depends which you are operating in and whether your target group are Baby-boomers, Generation X, Y or Z. There is a lot of money in the Baby-boomer segment related to retirement and senior living, but over time less as they ultimately will extinct. Ultimately you have no choice, there is a trend and it will change your business directly or indirectly.

I was on a business trip to London, stayed in the East side, where the tech companies and Millennial generation live and work. The impact on retail was staggering, apr. 80% of the retail stores was non-product stores i.e. restaurants, bars, services like hairdressers etc. & 20% related to selling products. I am very certain that going to the established parts of London the ratio will be very different maybe even reverse.

If this IS the the new global trend, focusing on your 'inside your body' and not 'outside your body', you have to be prepared to adjust and adapt.

Great articles to read

• McKinsey: the consumer sector in 2030
• Bain: Luxury goods worldwide
• Nielsen: Millennials prefer cities to suburbs, subways to driveways
• Goldman Sachs: Why you need to know more about Gen. X

Millennials are prioritising 'experience over stuff'