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Megatrends
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About This Report
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Middle class consumers are an important target group for businesses, because they are the foundation and driver of consumer markets. This report analyses key trends that relate to the Middle Class Retreat megatrend. It examines their impact on consumers’ behaviour and habits, as well as implications for brands, businesses and entire industries. Successful businesses will be those that are ready for the challenges and opportunities that this megatrend and its associated trends bring.
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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.
MAINTENANCE OF ECONOMIC STATUS: THE MIDDLE CLASS STRUGGLE
Middle-class households in developed economies, those with a disposable income between 75% and 125% of the median, have not experienced any significant improvement in their standards of living since the 2008-2009 global financial crisis, as a result of weak or stagnant income growth and continued economic uncertainty.
OPTIMISATION OF LIMITED RESOURCES
The middle classes are moving away from conspicuous consumption, as they focus on obtaining the most value for money and optimising their limited resources. Key trends pertaining to the Middle Class Retreat are therefore, rooted in the reassessment of values, ownership and priorities.
VALUE IS KEY, NOT PRICE
Middle-class shoppers’ purchasing decisions are driven by the pursuit of value. They are increasingly conditioned to buy on discount, as well as turning into keen deal hunters. However, value is not all about a ‘nice’ price, but is also related to ‘other factors’ including quality, consumer experience, convenience, authenticity and novelty. The key to success is for brands and marketers to uncover and compete on these ‘other factors’.
THE ACCUMULATION OF ‘STUFF’ BECOMES LESS IMPORTANT
Giving less priority to the accumulation of ‘stuff’ helps the middle classes simplify their lives and free up resources to experience more and/or to indulge when they actually make a purchase. Instead of acquiring new things, middle-class consumers also increasingly embrace second-hand items and refurbished goods.
POTENTIAL TO IMPACT A WIDE RANGE OF INDUSTRIES
Trends pertaining to the Middle Class Retreat have the potential to impact, and even disrupt, a wide range of sectors and industries, as well as giving rise to new business concepts and models.
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About the Megatrends Series
Our new Megatrends report series highlights the eight most influential megatrends to watch for both 2017. Euromonitor International’s global research teams continually monitor the consumer, industry and economic trends shaping world markets.
Our expertise, combined the latest techniques in re-examining the tens of millions of data points in our Passport database, allows us to be uniquely positioned to provide a holistic approach to common drivers that have the power to transform and disrupt entire categories in the next five years.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis and plan your corporate strategy with our expert qualitative analysis and growth projections.
This industry report originates from Passport, for more information click here.
Want to find out more about this report?
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 on Middle Class Retreat
Middle Class Retreat
Middle Class Retreat megatrend and associated key trends matter
Challenges and opportunities
What is Driving the Trend?
Five core drivers are shaping Middle Class Retreat
Shifting economic power: middle classes feeling squeezed
Population change : becoming older and having fewer children
Technology: giving consumers more information and more choice
Environmental shifts and pressures : changing consumption habits
Changing values : acquiring goods is no longer the priority
Middle Class Retreat in Action
Middle Class Retreat: key trends
Fickle consumers
Tesco: striving to attract more than just loyalty card holders
Dollar Shave Club: the right product at the right price
Michael Kors : struggling to inspire brand loyalty
Trading up, trading d own
Unilever: scooping the ice cream market through multiple brands
essential Waitrose: the essentials of the middle class
Norwegian Air Shuttle: offering low-cost long-haul flights
iRobot: introducing a basic model to capture more up-trading
Glorified frugality
ThredUP : leading the resale retail revolution
GameStop: re-aligning its business model with Glorified Frugality
Patagonia: promoting reselling and repairing used items
The sharing middle
Airbnb : allowing The Sharing Middle to optimise their resources
Maven: car sharing as an alternative to costly ownership
Style Lend: access to a bigger wardrobe minus the retail price tags
From having to being
Intrepid Travel: trips tailored to specific experiences
Ralph Lauren: interactive mirrors offer an immersive experience
Home of the deal
Nordstrom Rack: high-end store venturing into off-price retailing
Lidl and Aldi: from the fringe and into the mainstream
Costco: gaining market share by targeting the middle class
Thrill of the deal
Groupon : the deal site is forced to rethink strategy
Amazon: going from strength to strength
Middle Class Retreat: key market learnings
Conclusion
Middle Class Retreat in brief
Middle Class Retreat: what to focus on
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
- COVID-19 Survey: 2020, A Year in Review | Jan 2021
- 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
- From Sustainability to Purpose: Refocus on the Planet | Mar 2021
- 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
- Hometainment: Building the Post-Covid Experiential Home | Feb 2021
- How Ageing Population and Rising Longevity Drive Megatrends | Jan 2020
- Innovation and the “New Core”: What to Expect in 2021 | Mar 2021
- Megatrends in Action 2020: Healthy Living | Dec 2020
- Middle Class Retreat in North America: Where do Opportunities Lie? | Jun 2018
- Middle Class Retreat: Fickle Consumers | Dec 2017
- 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: The “New Normal” and Generational Shifts | Nov 2020
- The Coronavirus Era: The Future of Where and How Consumers Shop | Mar 2021
- 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
- Wellness Redefined: Fostering Wellbeing Through Digitalisation and Technology | Feb 2021
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
- COVID-19 Survey: 2020, A Year in Review | Jan 2021
- 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
- From Sustainability to Purpose: Refocus on the Planet | Mar 2021
- 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
- Hometainment: Building the Post-Covid Experiential Home | Feb 2021
- How Ageing Population and Rising Longevity Drive Megatrends | Jan 2020
- Innovation and the “New Core”: What to Expect in 2021 | Mar 2021
- Megatrends in Action 2020: Healthy Living | Dec 2020
- Middle Class Retreat in North America: Where do Opportunities Lie? | Jun 2018
- Middle Class Retreat: Fickle Consumers | Dec 2017
- 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: The “New Normal” and Generational Shifts | Nov 2020
- The Coronavirus Era: The Future of Where and How Consumers Shop | Mar 2021
- 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
- Wellness Redefined: Fostering Wellbeing Through Digitalisation and Technology | Feb 2021