Megatrends

Middle Class Retreat: Fickle Consumers

Dec 2017

US$1,325

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About This Report

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In their continuing struggle to maintain their economic status ever since the 2008-2009 global financial crisis, middle classes in developed countries focus on obtaining the most value for money and optimising their limited resources. The search for value – not just a ‘nice’ price, but also other intangibles such as quality, consumer experience, convenience, authenticity and more – has given rise to Fickle Consumers who are savvy, value conscious, and disloyal to brands.

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Overview

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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.

Harder to connect to cash rich consumers

Post-recessionary middle-class consumers with more information and more choice than ever before, are becoming harder to connect with and are more fickle and less loyal to brands. They listen more to each other than to company messages when making buying choices.

Value driven purchasing decisions

Fickle consumers flit between brands in pursuit of value. Value is more important than price, as it also relates to other factors such as, quality, consumer experience, convenience, authenticity and novelty. These factors allow brands to stand out.

Product ownership becomes secondary

Product utility a product is more important than the ownership of it. They enjoy the convenience of subscription services even for big-ticket items, and want to experience more.

Technology as a gateway for connecting with consumers

While increased digital connectivity can discourage loyalty by making consumers better informed, it represents an opportunity for brands by offering new ways to communicate with target audiences. Mobile apps, virtual reality and augmented reality are among the most popular digital strategies.

Bricks-and-mortar remains relevant

Key to engaging consumers is offering a social, in-person experience. Players across a range of industries are devising innovative ways of connecting with consumers on a more personal level in a bricks-and-mortar environment.

Innovative business models revolve around key pillars of loyalty

Popular strategies to inspire loyalty range from educating and engaging consumers to expanding brand portfolios or offering subscription-based flexibility. However, all successful approaches must look to incorporate key focus areas of value, convenience, technology and uniqueness/exclusivity.

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Introduction

Megatrend analysis at Euromonitor International

Megatrend framework

Middle Class Retreat is one of our eight focus megatrends

Key findings

Fickle Consumers: a key trend pertaining to Middle Class Retreat

Fickle Consumers

Who are Fickle Consumers

Why Fickle Consumers tend to be middle class

Knowledge is power

Challenges and opportunities

How to Win Fickle Consumers

Brand strategies centre around four pillars of loyalty

Inform and educate

Johnnie Walker: whisky education that leverages technology

Intelligentsia: immersing US consumers in coffee culture

Whole Foods: grocer educates customers on its core values

Brand portfolio expansion

LVMH: multi-brand online store offering special experience

Marriott International: global leader expanding its brand collection

Beiersdorf AG: narrow portfolio of brands hurts growth

Subscription services

HelloFresh : winning with convenience, flexibility, and value

Avenue A by adidas: curation , exclusivity and good value

Volvo: car subscription made simple

Consumer engagement

Capital One: creating a relaxed social environment

Nike: engaging directly with consumers and using augmented reality

Mastercard : priceless experiences and location-based engagement

Conclusion

Fickle Consumers: how to stand out from the competition

Leverage the power of megatrends to shape your strategy today

Why buy this report?

Want to find out more about this report?

Request more information

Megatrends

Megatrends

Middle Class Retreat: Fickle Consumers

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Harder to connect to cash rich consumers

Value driven purchasing decisions

Product ownership becomes secondary

Technology as a gateway for connecting with consumers

Bricks-and-mortar remains relevant

Innovative business models revolve around key pillars of loyalty

Want to find out more about this report?

Table of Contents

Introduction

Megatrend analysis at Euromonitor International

Megatrend framework

Middle Class Retreat is one of our eight focus megatrends

Key findings

Fickle Consumers: a key trend pertaining to Middle Class Retreat

Fickle Consumers

Who are Fickle Consumers

Why Fickle Consumers tend to be middle class

Knowledge is power

Challenges and opportunities

How to Win Fickle Consumers

Brand strategies centre around four pillars of loyalty

Inform and educate

Johnnie Walker: whisky education that leverages technology

Intelligentsia: immersing US consumers in coffee culture

Whole Foods: grocer educates customers on its core values

Brand portfolio expansion

LVMH: multi-brand online store offering special experience

Marriott International: global leader expanding its brand collection

Beiersdorf AG: narrow portfolio of brands hurts growth

Subscription services

HelloFresh : winning with convenience, flexibility, and value

Avenue A by adidas: curation , exclusivity and good value

Volvo: car subscription made simple

Consumer engagement

Capital One: creating a relaxed social environment

Nike: engaging directly with consumers and using augmented reality

Mastercard : priceless experiences and location-based engagement

Conclusion

Fickle Consumers: how to stand out from the competition

Leverage the power of megatrends to shape your strategy today

Why buy this report?

Want to find out more about this report?

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