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 moreDec 2018
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Companies seeking to go beyond demographics to better understand their target markets have a variety of segmentation tools at their disposal. Euromonitor International’s Survey team took a top-down approach of segmenting consumers based on broad survey data including consumer habits and preferences across many areas of life.
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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.
After extensive work with the Lifestyles survey dataset, Euromonitor identified a subset of questions which encapsulated and differentiated a wide range of consumer attitudes and behaviour within each of the 21 countries surveyed, using a top-down approach.
Euromonitor followed a 4-step approach to arrive at the final consumer segments:
Euromonitor analysed the results of 2017 Lifestyles survey to define the four consumer segments and their habits across markets, by first defining the characteristics that all consumers within the segment share
Once an initial set of criteria was identified, the survey data were used to categorise respondents meeting all of the criteria. This initial segment was analysed for size and key behaviours. If the segment encompassed either too many consumers or too few, or if respondents within the segment did not have expected behaviours across key measures, then the criteria was adjusted and re-tested
Absolute perfect fit was not attainable, but Euromonitor checked if more than 80% consumers in the defined target segment fit key measures and arrived at the criteria after several iterations by relying on intuition and data analysis.
After the segments were finalised, all of the other survey questions were compared to explore the habits and preferences of each consumer segment.
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.