Businesses globally are facing changes in consumer markets in the short term, owing to the rising cost of living and increasingly financially cautious consumers. Income and expenditure insights are crucial in identifying how to maintain consumer loyalty and reach increasingly frugal consumers.
The composition of global households is being reshaped by technology, demographics and economics, resulting in changing familial structure and attitudes towards the home. With consumers increasingly valuing ownership over renting, the home is being entrenched as an important place for work, study and entertainment, and many opt for simplicity and smart home functionality. Singleton households are on the rise, and there will be key milestones reached in the possession of household durables and home ownership.
Busy lifestyles, higher appreciation for work-life balance and the continuous strive to make the home a hub for everything is expected to intensify the search for multifunctionality and convenience in the short to medium term. This article lists the top three ways consumers use home appliances to make their lives easier.
According to Euromonitor International’s Voice of the Consumer Lifestyles Survey 2022, 36% of global consumers intend to work from home in the future. Similarly, companies worldwide cite working from home as the most significant long-term impact of the pandemic. While the remote working trend is usually praised for its advantages, it can be both a blessing and a burden. This article will explore the five main negatives in working from home.
The post-pandemic consumer landscape has been transformed by major behavioural shifts on the part of consumers, in terms of how they live, work, play and shop. Key shifts in consumer behaviour – including the adoption of digitalised, home-centric lifestyles, increased concern about social and environmental responsibility, and a greater focus on value – have given rise to new consumer needs and priorities and necessitated the need for companies to rethink their strategies in order to stay relevant in the long term.
Real estate prices have been on a record run for the past two years with some countries seeing prices rise by 20% or higher. Cheap debt, untamed inflation and limited availability of housing are fueling short term growth. Generational shifts will ensure demand for housing stays bullish longer term.