Economic shocks, record-high inflation and supply shortages continue to drive up the cost of living. At the same time, Gen Z is coming of age, forcing retailers and brands to rethink marketing strategies. Plus, tech advances continue to influence purchase habits. These are some of the forces that will shape our lives this year.
Michelle Evans and her team will share their insights around the tech trends that are redefining commerce in 2023. We explore how product development is being shaped by social platforms, the influence of gaming culture on shopping websites and ways retailers, brands and hospitality operators are offering more personalized experiences.
Our team of specialists in Vilnius have identified two of Euromonitor’s Global Consumer Trends which are having the biggest impact on Eastern Europe.
In addition to being known for their activism and authenticity, the members of Generation Z are the first true digital natives. As a result, brands that simply attempt to duplicate a store-based marketing strategy in the online realm often miss the mark when attempting to woo these young consumers. Now, US grocery retailers like H-E-B and Albertsons are beginning to use social media in novel ways to engage with these the members of Generation Z on their own terms.
Large increases in commodity prices and the cost of living in Central and Eastern Europe are cutting into household incomes. The question of gaining consumer loyalty influences businesses more than ever before, because consumers have an abundance of information and products to choose from today. Leading CEE business executives from IKEA Retail, Mercator-S and PHH Group discuss how to keep customers coming back in Euromonitor’s webinar ‘Building Resilience During Economic Uncertainty in CEE’
Slower economic growth, volatility in commodity markets, tight labour markets and high inflation are among the key risk factors that are impacting the business environment and consumer behaviour in the Central and Eastern Europe (CEE) region. Real GDP in the region is forecast to contract by 3% in 2022 and show moderate growth of 0.2% in 2023, as a result of the war in Ukraine and weaker global economic growth, which are hurting exports.