New Consumer Landscape: A Global Overview

Delivery

This report comes in PPT.

Key findings

The consumer is changing

Consumer demographics are changing. Global consumers are becoming older, single and with rising health issues. They are also becoming more diverse in terms of ethnicity, language and culture. Meanwhile, Generation Alpha, despite their weak purchasing power relative to older generations, is set to rise in number and importance as future trend setters.

Households and homes

All over the world, single-person households are rising at the fastest rate of all household types. Global households will be predominantly urban, with water and electricity supplies, and are connected to broadband internet. With rising connectivity, and as the pandemic accelerates the shift to the home, the home has become more than just an abode. These household and home trends will contribute to shaping consumer behaviour and defining future demand.

Consumerism and beyond

Consumerism has been evolving for a while but the shift towards more selective and mindful consumption has been accelerated by financial constraints and environmental concerns. This has resulted in global consumers reassessing their values and priorities and consequently changing their consumption behaviour. Additionally, purchasing power is shifting to older consumers, and also to Asia, and this also plays a role in defining and shaping the global consumer market.

What does it all mean to businesses?

Companies need to have a deep understanding of the new consumer landscape in order to keep up with changing consumer demand and stay relevant for the long term. Insights into the new consumer landscape can help businesses align to changing consumer values and develop products, services and experiences that meet the changing needs and preferences of global consumers.