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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
Why buy this report?
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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Request more informationTable 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?
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.
Want to find out more about this report?
Request more informationComplete Catalogue
Megatrends
- Changing Values As a Megatrend Driver | Apr 2018
- Connected Consumers | Aug 2017
- Connected Consumers in Asia Pacific: Mobile-centric Mindset Permeates all Aspects of Life | Jun 2018
- Connected Consumers: “Can do” Versus “Should do” Thinking | Dec 2017
- Connected Consumers: Future Mobility, Home and City | Mar 2018
- Converging Megatrends: Key Strategies to Deploy in this Era of Influencer Marketing | Jan 2020
- Converging Megatrends: Where Experience Meets Sustainability Creates a Sweet Spot | Feb 2020
- Coronavirus Pandemic to Rewrite the Future of Businesses | Jul 2020
- Ethical Living | Aug 2017
- Ethical Living in Australia | Jun 2020
- Ethical Living in Western Europe: Advancing to a Circular Economy | Jun 2018
- Ethical Living: Mindful Consumerism | Nov 2017
- Ethical Living: Plastic - Lose It or Re-Use It? | Mar 2018
- Ethical Living: State of Play 2019 | Jun 2019
- Experience More | Aug 2017
- Experience More Across the Customer Journey | Dec 2017
- Experience More in Asia Pacific: How Brands are Delivering an Enhanced Experience | Jun 2018
- Experience More: Digital Toolkit | Mar 2018
- Experience More: In the Moment | Jun 2018
- Experience More: State of Play 2019 | Jun 2019
- From Sustainability to Purpose: Digitalisation Shapes the Future of Business with Purpose | Aug 2020
- From Sustainability to Purpose: New Values Driving Purpose-led Innovation | Jul 2020
- Healthy Living | Aug 2017
- Healthy Living in Australia | Nov 2020
- Healthy Living in Latin America: Evolving Consumer and Business Landscape | Jun 2018
- Healthy Living: Home As Health Hub | Mar 2018
- Healthy Living: The New Face of Healthy Ageing | Dec 2017
- How Ageing Population and Rising Longevity Drive Megatrends | Jan 2020
- Middle Class Retreat | Aug 2017
- Middle Class Retreat in North America: Where do Opportunities Lie? | Jun 2018
- Middle Class Retreat: State of Play 2019 | Apr 2019
- Middle Class Retreat: Trading Up, Trading Down | Mar 2018
- Population Change as a Megatrend Driver | Feb 2018
- Premiumisation | Aug 2017
- Premiumisation in Asia Pacific: Tracking a New Affluent Class | Jun 2018
- Premiumisation State of Play 2019 | Mar 2019
- Premiumisation: Past, Present and Future | Mar 2018
- Premiumisation: Why Foodservice Matters to Every Industry | Dec 2017
- Shifting Economic Power as a Megatrend Driver | May 2018
- Shifting Market Frontiers | Aug 2017
- Shifting Market Frontiers in China: Mid-sized Cities Boom | Jun 2018
- Shifting Market Frontiers: Africa Rising | Mar 2018
- Shifting Market Frontiers: Asian Century | Dec 2017
- Shifting Market Frontiers: State of Play 2019 | Sep 2019
- Shopping Reinvented | Aug 2017
- Shopping Reinvented in Latin America: Evolving Expectations and Opportunities | Jun 2018
- Shopping Reinvented: Breathing New Life to Retail in Australia | Jun 2020
- Shopping Reinvented: Empathy and the Key to a Superior Shopper Journey | Dec 2017
- Shopping Reinvented: Mobile App Features that Drive Discovery, Engagement and Sales | Mar 2018
- Shopping Reinvented: State of Play 2019 | Jun 2019
- Technology as a Megatrend Driver | Jan 2018
- The Coronavirus Era: "Hometainment" and the New Experiential Consumer - Countertop Commerce | Aug 2020
- The Coronavirus Era: “Hometainment” and the New Experiential Consumer | Jun 2020
- The Coronavirus Era: “The New Normal” - What is here to Stay? | Jun 2020
- The Coronavirus Era: From Sustainability to Purpose | Jun 2020
- The Coronavirus Era: How Consumers Shop | Sep 2020
- The Coronavirus Era: Innovation and the New Core | Jun 2020
- The Coronavirus Era: Innovation and the New Core - The Rise of the “Work From Home” Consumer | Sep 2020
- The Coronavirus Era: The “New Normal” – Why Nothing Will be Normal | Nov 2020
- The Coronavirus Era: Wellness Redefined | Jun 2020
- The Coronavirus Era: Where and How Consumers Shop | Jun 2020
- The Coronavirus Era: Where Consumers Shop | Sep 2020
- The Future of the Middle Class | Feb 2020
- The Impact of Coronavirus on Megatrends | Jun 2020
- Understanding the Five Drivers Shaping Megatrends | Jan 2019
- Wellness Redefined: Back to Basics and Reassessing Value | Aug 2020
- Wellness Redefined: Exploring the Case for Emotional Wellbeing | Oct 2020
Complete Catalogue
Megatrends
- Changing Values As a Megatrend Driver | Apr 2018
- Connected Consumers | Aug 2017
- Connected Consumers in Asia Pacific: Mobile-centric Mindset Permeates all Aspects of Life | Jun 2018
- Connected Consumers: “Can do” Versus “Should do” Thinking | Dec 2017
- Connected Consumers: Future Mobility, Home and City | Mar 2018
- Converging Megatrends: Key Strategies to Deploy in this Era of Influencer Marketing | Jan 2020
- Converging Megatrends: Where Experience Meets Sustainability Creates a Sweet Spot | Feb 2020
- Coronavirus Pandemic to Rewrite the Future of Businesses | Jul 2020
- Ethical Living | Aug 2017
- Ethical Living in Australia | Jun 2020
- Ethical Living in Western Europe: Advancing to a Circular Economy | Jun 2018
- Ethical Living: Mindful Consumerism | Nov 2017
- Ethical Living: Plastic - Lose It or Re-Use It? | Mar 2018
- Ethical Living: State of Play 2019 | Jun 2019
- Experience More | Aug 2017
- Experience More Across the Customer Journey | Dec 2017
- Experience More in Asia Pacific: How Brands are Delivering an Enhanced Experience | Jun 2018
- Experience More: Digital Toolkit | Mar 2018
- Experience More: In the Moment | Jun 2018
- Experience More: State of Play 2019 | Jun 2019
- From Sustainability to Purpose: Digitalisation Shapes the Future of Business with Purpose | Aug 2020
- From Sustainability to Purpose: New Values Driving Purpose-led Innovation | Jul 2020
- Healthy Living | Aug 2017
- Healthy Living in Australia | Nov 2020
- Healthy Living in Latin America: Evolving Consumer and Business Landscape | Jun 2018
- Healthy Living: Home As Health Hub | Mar 2018
- Healthy Living: The New Face of Healthy Ageing | Dec 2017
- How Ageing Population and Rising Longevity Drive Megatrends | Jan 2020
- Middle Class Retreat | Aug 2017
- Middle Class Retreat in North America: Where do Opportunities Lie? | Jun 2018
- Middle Class Retreat: State of Play 2019 | Apr 2019
- Middle Class Retreat: Trading Up, Trading Down | Mar 2018
- Population Change as a Megatrend Driver | Feb 2018
- Premiumisation | Aug 2017
- Premiumisation in Asia Pacific: Tracking a New Affluent Class | Jun 2018
- Premiumisation State of Play 2019 | Mar 2019
- Premiumisation: Past, Present and Future | Mar 2018
- Premiumisation: Why Foodservice Matters to Every Industry | Dec 2017
- Shifting Economic Power as a Megatrend Driver | May 2018
- Shifting Market Frontiers | Aug 2017
- Shifting Market Frontiers in China: Mid-sized Cities Boom | Jun 2018
- Shifting Market Frontiers: Africa Rising | Mar 2018
- Shifting Market Frontiers: Asian Century | Dec 2017
- Shifting Market Frontiers: State of Play 2019 | Sep 2019
- Shopping Reinvented | Aug 2017
- Shopping Reinvented in Latin America: Evolving Expectations and Opportunities | Jun 2018
- Shopping Reinvented: Breathing New Life to Retail in Australia | Jun 2020
- Shopping Reinvented: Empathy and the Key to a Superior Shopper Journey | Dec 2017
- Shopping Reinvented: Mobile App Features that Drive Discovery, Engagement and Sales | Mar 2018
- Shopping Reinvented: State of Play 2019 | Jun 2019
- Technology as a Megatrend Driver | Jan 2018
- The Coronavirus Era: "Hometainment" and the New Experiential Consumer - Countertop Commerce | Aug 2020
- The Coronavirus Era: “Hometainment” and the New Experiential Consumer | Jun 2020
- The Coronavirus Era: “The New Normal” - What is here to Stay? | Jun 2020
- The Coronavirus Era: From Sustainability to Purpose | Jun 2020
- The Coronavirus Era: How Consumers Shop | Sep 2020
- The Coronavirus Era: Innovation and the New Core | Jun 2020
- The Coronavirus Era: Innovation and the New Core - The Rise of the “Work From Home” Consumer | Sep 2020
- The Coronavirus Era: The “New Normal” – Why Nothing Will be Normal | Nov 2020
- The Coronavirus Era: Wellness Redefined | Jun 2020
- The Coronavirus Era: Where and How Consumers Shop | Jun 2020
- The Coronavirus Era: Where Consumers Shop | Sep 2020
- The Future of the Middle Class | Feb 2020
- The Impact of Coronavirus on Megatrends | Jun 2020
- Understanding the Five Drivers Shaping Megatrends | Jan 2019
- Wellness Redefined: Back to Basics and Reassessing Value | Aug 2020
- Wellness Redefined: Exploring the Case for Emotional Wellbeing | Oct 2020