The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreOct 2017
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Euromonitor International has identified premiumisation as one of the megatrends driving consumer choices. Consumer demand for premium products and experiences impacts not only what consumers pay for, but how they pay. Cash is brand-less, but in the increasingly competitive card payment space, rewards and premium treatment play an essential role in determining which card is top of wallet when consumers swipe, dip, tap or click.
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Premiumisation of products and services is allowing brands and service providers to differentiate themselves from their competitors in a modern world that offers endless choices and commoditisation of product offerings.
Premiumisation is not limited purely to the products that consumers purchase. Growing payment options have created an environment in which payment service providers compete to provide a premium payment experience.
Nowhere is premiumisation of payments more readily apparent than in the credit card market. Card issuers and operators are turning to personalised and lucrative rewards and loyalty platforms to stand out in the crowded consumer payments market.
While premiumisation is shifting consumer purchasing patterns, it is also altering the way consumers pay. Premium rewards and card features are crucial for issuers and operators looking to succeed in a competitive payment landscape.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.