The Belgian population is expanding due to an influx of immigrants, while businesses are becoming more diverse and inclusive. Consumer trends and consumption patterns sparked by the pandemic are still observed in 2022, and consumers are increasingly concerned about the environment and social equality. Inflation and economic inequalities are putting pressure on consumers, making them to become more conscious about their purchasing decisions.
This report comes in PPT.
In 2022, the Belgian population experienced an increase due to a rise in immigration numbers, especially from Ukraine, which was impacted by war. As a result, the Belgian population is becoming more diverse, with people from different cultural backgrounds. This demographic shift has led businesses to adapt their strategies by including more international brands and products to cater to this multicultural population.
According to the 2023 Lifestyle Survey, Belgian consumers show a preference for familiar and trusted brands while avoiding unnecessary purchases. Additionally, they display an environmentally conscious mindset, as well as being mindful of their expenses, given rising prices. As a result, more consumers are turning towards discount stores and second-hand items.
As single-person and child-free households become more common, there is a growing demand for higher-ticket items and services that cater to their lifestyle items such as high-end electronics or solo experiences. Similarly, child-free households prioritise spending on leisure and entertainment activities such as vacations, events, or dining out.
Baby Boomers are a significant consumer segment shaping the market as the largest generation cohort. While they are increasingly tech-savvy, they also value traditional shopping experiences, preferring to shop in local stores and enjoy visiting shopping malls.
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