Consumers in 2023

December 2022

The impact of the political, economic, social and climate insecurity is being felt by all. Despite the disruption of COVID-19, the global population keeps growing, surpassing the threshold of eight billion in 2023. The constitution of families and households is changing, leaning towards childless couples or single-person households. Meanwhile, growing costs of essentials and comparatively stagnant wages bring about new challenges for consumers in terms of budgetary squeeze.

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This report comes in PPT.

Key Findings

I, Me and Myself

Ageing populations, a rising number of divorcees, and young people leaving their parents’ houses to live on their own result in rapid growth in single-person households. These singleton households are budget-conscious, yet have a greater need for socialisation and self-fulfilment.

More Education, More Unemployment

Unemployed household heads are increasing despite an expanding share of household heads with higher education. This is because of a widening socioeconomic achievement gap, a growing digital divide and the education sector’s failure to meet business needs.

Home for Everything

Hybrid working and the rising cost of living have resulted in working, studying, and entertaining from home. As a result, demand for digital solutions and consumer appliances that enable better at-home experiences continues to grow.

Owing over Renting

Fast-growing homeowners account for the majority of global households by tenure. As home ownership is usually a long-term commitment, homeowners are more likely to invest in their homes, facilitating the demand for household goods and appliances.

Strive Towards Simple

With 69% of global consumers stating that they are looking for ways to simplify their lives, according to Euromonitor International’s Voice of the Consumer: Lifestyles Survey in 2022, home functionality emerges as one of the key priorities for consumers.


Consumer landscape in 2023
Households in 202 3
Five key household trends
More education, more unemployment
Income and expenditure in 2023
Five key income and expenditure trends
Consumption squeeze defines 2023
Lifestyles in 2023
Five key consumer lifestyles trends
Despite rising prices, global consumers are still eager to socialise
Population in 2023
Five key population trends
Global population surpasses eight billion, Gen Alpha moving in as the biggest cohort


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