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.
Ageing, urbanisation and migration continue to be major factors shaping global population. The number of seniors around the world is expected to grow and with it the focus on wellness and health to increase. Meanwhile, rapid urbanisation and intensifying international migration is expected to have long-term implications for socioeconomic development across the globe.
Born between 1995-2009, Generation Z is coming of age alongside significant changes in the post-pandemic economy, giving rise to the Gen Z beauty consumer's tendencies for price sensitivity, individualistic expression, active participation in user-generated content, and phygital spaces. Social media and social commerce are essential to succeed with Gen Z beauty consumers.
The global population is living longer. Global life expectancy has been climbing, from 65 years in 1990 to 72 in 2020, and is expected to reach 76 years by 2040. Longer lives have numerous implications and establish the longevity economy – a phenomenon no business can or should ignore.
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.
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.
It is no secret that tennis is an ageing sport. Some studies have pointed out that the median age of WTA and ATP viewers is late 50s, and rising. Engaging with younger fans will be paramount in maintaining viewership, especially since millennials and gen Z will account for 41% of the world’s population by 2030.