25 Global Consumer Trends 2008: Back to Basics – it’s Still the Old Economy in a Cool Climate
Euromonitor International's 25 Global Consumer Trends 2008: Back to Basics – it’s Still the Old Economy in a Cool Climate Strategy Briefings is a series of reports that alert you to global trends predicted to influence consumer markets. They offer insight to changing market conditions and the opportunities and challenges companies need to consider to maintain a competitive advantage
Chapters: 13 | Tables: 27 | Publication date: Jun 2008
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive environment
Regional coverage
Western Europe; Eastern Europe; North America; Latin America; Asia-Pacific; Oceania; Africa and the Middle East
Table of contents
FOREWORD
THE BIG PICTURE
Back to basics – it’s always the economy
EXECUTIVE SUMMARY
MACRO DRIVERS AND KEY TRENDS
CONSUMER TRENDS
OPPORTUNITIES AND CHALLENGES OF 2008
Summary 1 Opportunities and Challenges of 2008
MAJOR MARKETS
IMPLICATIONS FOR BRANDS AND MARKETERS
FUTURE OUTLOOK
MACRO DRIVERS
POLITICS
ECONOMY
Where are we?
Chart 1 Major Markets GDP at Purchasing Power Parity 2007
Chart 2 Savings Ratio: Savings as % of Income in Major Markets 2007
Economic climate change – or what a difference a year makes
Fear is the new greed
How did it happen
Rising cost of daily bread
Chart 3 Real GDP Growth (%) Actual and Forecast 1980-2012
Rising US unemployment
Asia-Pacific – engine of growth?
SOCIETY
Making choices means saying “no” (sometimes)
TECHNOLOGY
Vulnerability of connections
KEY TRENDS AND DEVELOPMENTS
CLIMATE CHANGE IS HERE TO STAY
WE CONTINUE TO AGE
Chart 4 World Population by Region (1 January 2007)
CONTINUE TO GET FATTER
Table 1 Obesity Levels – Proportion With BMI 30+ by Region 1977-2017
TO GET RICHER
Chart 5 Average Annual Disposable Income 1997/2007
AND LIVE IN A MORE CROWDED WORLD
Chart 6 Population Density by Region 2007
GLOBALISATION WILL CONTINUE
OVERVIEW OF CONSUMER TRENDS
Chart 7 Global Consumer Trends and Themes 2008
IDENTITY, SELF-EXPRESSION AND HAPPINESS
LEGISLATING HAPPINESS
Table 2 How Much People Enjoy Their Life as a Whole (Top and Bottom Countries), Average 1995-2005
WHEN THE FUTURE LOOKS BAD, LOOK BACK – THE COMFORT OF NOSTALGIA
FAKING IT
RETURN OF RARITY
IT’S ALL TOO COMPLEX – THE RISE OF SIMPLICITY
THE RISE OF (POPULAR) CONNOISSEURSHIP
The rise of the middle class? Or the consumer class?
Chart 8 Households (%) With an Annual Income of US$5,000 and US$15,000 by Major Market 2007
BELONGING
NEEDY WORLD
SOCIAL NETWORKING CONTINUES TO GAIN GROUND
....AND SO STATUS BECOMES AN ISSUE
MAKING NETWORKS PAY?
NETWORK ETIQUETTE
MAKE IT YOURSELF
Brands and belonging
Table 3 World Brands and Companies 2007
WORK, REST AND PLAY
WEALTHIER BUT NOT BETTER OFF
Chart 9 Growth in GDP vs Growth in Average Annual Income by Major Market (% CAGR) 2003/2007
MANAGING MONEY AND EXPECTATIONS – SURVIVAL AND HOME
Chart 10 Home Tenure in Major Markets 2007
Chart 11 Home Owners – With and Without Mortgages in Major Markets 2007
MAKING ENDS MEET – FOOD OR FUN
Chart 12 Consumer Expenditure on Food and Housing (as % of Total Consumer Expenditure) by Major Market 2007
Chart 13 Consumer Expenditure on Leisure and Communications by Major Market 2007
UNEMPLOYMENT
Chart 14 Growth in Number of Unemployed in Major Markets 2007/2008
NEW WAYS OF SPENDING MORE, FASTER, MORE OFTEN, NOW
Chart 15 Financial Cards by Function in Major Markets 2007
Chart 16 Number of Financial Cards per Household in Major Markets 2007
Chart 17 Contact and Contactless Smart Cards in Major Markets 2007
HEALTH AND WELLBEING
OVERVIEW
EXPANDING WAISTLINES
Chart 18 Calorie Consumption vs Obesity Levels in Major Markets 2007
Table 4 Consumption of Food Groups vs Obesity in Major Markets 2007
PAYING FOR HEALTH
Table 5 Spending on Health by Sector in Major Markets 2007
HEALTH INEQUALITIES
Chart 19 Gap Between Life Expectancy and Healthy Life Expectancy in Major Markets 2006
HEARTS AND MINDS (AND HIPS AND KNEES)
Chart 20 World Value Sales of Vitamins and Dietary Supplements (US$ million) 2007
GUT FEELING
Chart 21 World Value Sales of Probiotics (US$ million) 2007
FOOD PLUS AND MINUS
CONNECTEDNESS THROUGH TECHNOLOGY
IT’S NOT NEW TECH, TECHNOLOGY IS NORMAL
IDENTITY ANXIETY – WHO IS BEING ME TODAY?
MY (MOBILE) PHONE IS MY HOME
Chart 22 Per Capita Ownership of Mobile Phones in Major Markets 2007
THE NEW MTV – TELEVISION ON YOUR MOBILE
LIFE’S A GAME AND OTHER WORLDS
GENERATIONAL DIFFERENCES
MAGICAL TECHNOLOGY
CONSUMER TRENDS IN THE MAIN MARKETS
BRAZIL
Chart 23 Brazil: Economic Outlook – GDP and GDP Growth 2008-2012
Table 6 Brazil: Household Economy (US$ per Household) 2008-2012
Table 7 Brazil: Technology at Home – Forecast 2008-2012
CHINA
Chart 24 China: Economic Outlook – GDP and GDP Growth 2008-2012
Table 8 China: Household Economy (US$ per Household) 2008-2012
Table 9 China: Technology at Home – Forecast 2008-2012
FRANCE
Chart 25 France: Economic Outlook – GDP and GDP Growth 2008-2012
Table 10 France: Household Economy (US$ per Household) 2008-2012
Table 11 France: Technology at Home – Forecast 2008-2012
GERMANY
Chart 26 Germany: Economic Outlook – GDP and GDP Growth 2008-2012
Table 12 Germany: Household Economy (US$ per Household) 2008-2012
Table 13 Germany: Technology at Home – Forecast 2008-2012
INDIA
Chart 27 India: Economic Outlook – GDP and GDP Growth 2008-2012
Table 14 India: Household Economy (US$ per Household) 2008-2012
Table 15 India: Technology at Home – Forecast 2008-2012
JAPAN
Chart 28 Japan: Economic Outlook – GDP and GDP Growth 2008-2012
Table 16 Japan: Household Economy (US$ per Household) 2008-2012
Table 17 Japan: Technology at Home – Forecast 2008-2012
RUSSIA
Chart 29 Russia: Economic Outlook – GDP and GDP Growth 2008-2012
Table 18 Russia: Number of Millionaires/Billionaires in Russia 2002-2007
Table 19 Russia: Household Economy (US$ per Household) 2008-2012
Table 20 Russia: Technology at Home – Forecast 2008-2012
UK
Chart 30 UK: Economic Outlook – GDP and GDP Growth 2008-2012
Table 21 UK: Household Economy (US$ per Household) 2008-2012
Table 22 UK: Technology at Home – Forecast 2008-2012
US
Chart 31 US: Economic Outlook – GDP and GDP Growth 2008-2012
Table 23 US: Household Economy (US$ per Household) 2008-2012
Table 24 US: Technology at Home – Forecast 2008-2012
IMPLICATIONS OF THESE CONSUMER TRENDS FOR BRANDS AND MARKETING
OVERVIEW
THE POWER OF THE PEER GROUP
ADVERTISING AND THE PEER GROUP
WHAT IS IT YOU ARE REALLY BUYING
ADVERTISING OBESITY
LANGUAGE MATTERS – FROM STICKY TO MAGNETIC; VIRAL TO GOSSIP
THE ROLE OF DESIGN
TRY BEFORE YOU BUY
FUTURE OUTLOOK
WHAT’S NOT CHANGING
Global and niche
Time famine
Most spending is non-discretionary
TRENDS TO WATCH
Spending priorities in a cooler climate
Chart 32 Breakdown of Consumer Expenditure 2007
Table 25 Growth in Spending on Ready Meals/Prepared Salads – Actual and Forecast 2003/2007 and 2008/2012
Table 26 Growth in Spending on Lager by Price Platform – Actual and Forecast 2003/2007 and 2008/2012
FUTURE SCENARIOS
Chart 33 Future Scenarios
Just a correction – normal service will be resumed as soon as possible
Recession – but its short and sharp (and only in the West)
Stagflation – less sharp but long lasting (rising inflation and falling growth)
New model – this time it is the new economy
Which will happen?