Belgium: Consumer Profile

May 2023

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.

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This report comes in PPT.

Key findings

The population is more diverse

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.

Consumers are more conscious about their purchases

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.

Growing single households boost business prospects

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 shape consumer preferences

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.

Key drivers impacting consumers in Belgium in 2022
The impact of current trends on the future consumer
Key findings
Today 2022: The growing population of late lifers and seniors
Today: G rowing immigration in Belgium
Baby boomers show low interest in online brand engagement
Tomorrow 2040: Longer life expectancy and low birth rates boost older cohort
Tomorrow : Gen Z's tech-savvy nature to reshape the consumer landscape
Tomorrow : Urbanisation across Belgian cities is set to continue
Areas of opportunity
Belgium's AB InBev introduces Ukraine’s Chernigivske
Today 2022: Single person households continue to grow in Belgium
High interest rates lead to a drop in mortgages
Energy efficiency and a safe location are top priorities for homeowners
Tomorrow 2040: Households without children become dominant
Older households remain dominant
Single-person households lag behind in universal internet access
Areas of opportunity
Case Study: Telenet launches a 360-degree WiFi system
Today 2022: Growing income and stronger spending in higher income bands
Rising prices are a concern for Belgian consumers
Younger generations continue to spend on holidays and traveling
Tomorrow 2040: Social classes D and E remain prevalent in 2040
Tomorrow 2040: 65+ age group have the fastest income growth
Tomorrow 2040: Antwerp and Charleroi will see the fastest growth in consumer spending
Areas of opportunity
Case study: Lidl voted the best retail er in Belgium 2022-2023
Key findings: consumer survey
Younger generations have a more positive outlook
Belgians are not relying on government support
Work Priorities
Belgian shoppers embrace sustainability and second-hand platforms as prices rise
More than half of Belgian consumers are worried about climate change
Fost Plus and Morssinkhof Plastics build a recycling plant
Areas of opportunity
Key findings


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