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Megatrends

Middle Class Retreat

Aug 2017

US$1,325

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About This Report

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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

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

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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.

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.

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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?

Want to find out more about this report?

Request more information

Megatrends

Megatrends

Middle Class Retreat

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

MAINTENANCE OF ECONOMIC STATUS: THE MIDDLE CLASS STRUGGLE

OPTIMISATION OF LIMITED RESOURCES

VALUE IS KEY, NOT PRICE

THE ACCUMULATION OF ‘STUFF’ BECOMES LESS IMPORTANT

POTENTIAL TO IMPACT A WIDE RANGE OF INDUSTRIES

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 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?

Want to find out more about this report?

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