As sustainability grows in relevance and consumers lean towards more sustainable lifestyles, consumer segmentation according to shared environmentally friendly traits and preferences is becoming instrumental for companies seeking to develop and market sustainable products in the right markets at the right time.
With growing prices of energy, commodities, and end products, many consumers’ financial stability is more vulnerable than ever before. This raises attention to cost-saving solutions, with private label coming into focus. However, modern consumers have demanding expectations of the products they buy, which has driven the transformation of private label and, in turn, changed perceptions.
Increasing attention to consumer values results in the empowerment of everyone. This briefing analyses the Diversity and Inclusion megatrend through the framework of three major pillars: Beyond Stereotypes, Accessible for All, and Social Goodness.
Between 2022-2027, the number of internet users globally will increase by one billion. These will primarily come from emerging and developing countries in East Asia, South Asia and Africa. Here, the key drivers will be the rising global middle class as well as urban and aging consumers. With vast business opportunities arising in this context, it will be critical for companies to understand the characteristics and context of these newly connecting consumers.
Consumers across the spectrum still want to indulge themselves, but what they are willing to spend on has shifted beyond luxury definitions, brands, and labels of the past. Luxury brands that are not diversifying their portfolios risk having to reinvent the wheel every time there is an economic crisis, whereas brands that are responding to these changes are creating loyalty across generations and driving long-term growth beyond global instability.
With the holidays approaching and inflation surging, value is at top of mind for many consumers. But value is more than value for money, and the pursuit of value is here to stay as one of the 10 most influential megatrends identified by Euromonitor International as having far-reaching impact on industries, companies, and consumers. In this podcast, An Hodgson explains all about the Pursuit of Value – where it comes from, why businesses should pay attention, and how can they win with this megatrend.