The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreMar 2018
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Trading Up, Trading Down is an effective way for the squeezed middle class to continue enjoying things that are important to them without breaking their limited budget. This report provides insights into the priorities, motivations and emotions that drive middle class consumers to trade up and down, and helps businesses translate these insights into effective strategies to win new consumers and capture the most of Trading Up, Trading Down.
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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.
Middle-class consumers in developed markets, having not experienced any meaningful real income gain since the financial crisis, trade down on undifferentiated middle-market goods and services so that they can trade up for quality, wellbeing, experience, convenience, authenticity and other values where it matters.
Technology gives consumers more information and more choice, making it easier for them to spend less in some categories and trade up in other categories. It also enables brands to innovate and improve efficiencies in order to offer higher quality at lower prices.
Winners arising from this trend include those who offer high-quality, low-price, private-label alternatives and those who succeed in establishing a strong emotional connection with the consumer. Losers, on the other hand, are those in the “boring middle” who lack differentiation and do not offer value for money.
The same consumers trade up and down, as they compromise in some categories in order to splash out in others. Even in the same categories,consumers can be found trading up and down at the same time, for example by trading up in quality but cut down in quantity.
Strategies to capture trading up and trading down opportunities range from carving out a niche at either end of the price spectrum, to stretching the brand across a broad range of price points without alienating existing consumers and/or devaluing the brand. However, all successful approaches must look to deliver well on what matters the most to middle class consumers.
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.