New Consumer Landscape: A Global Overview

August 2022

Today’s consumer is diverse, not only along the lines of race, ethnicity, age, income, education and urban-rural locations, but also in terms of their behaviours, values and priorities. The environment and the setting in which they live are also changing and play a role in shaping and changing consumer needs and perspectives. Companies need to have a deep understanding of the new consumer landscape in order to keep up with changing consumer demands and capitalise on new opportunities.

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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.

Scope
Key findings
Many factors shaping the new consumer landscape
The new consumer landscape
Living longer, but major health risks are on the rise
Single population is expanding
Gen Alpha to overtake Gen Z as the largest generation
Consumers are more diverse than ever before
Case study: Interflora UK launches flowers for single people
Case study: Tough Turban combines culture and safety
Seven out of 10 households globally will be urban in 2040
Cities in Asia and Eastern Europe show strong middle class expansion
Single-person households growing fastest, but are not strongest in purchasing power
Two in three households globally will be childless in 2040
The home is more than just an abode
Case study: Click & Grow pairs smart technology with gardening in city households
Case study: Ori helps people live large in a small footprint
The purchasing power shift towards Asia and older consumers
Education is a spending priority
Focus on value, but it is not just value for money
Climate change is a top concern
Loyalty no more
Case study: Doconomy’s credit card stops consumers from overspending
Case study: Udemy’s revenue surge on rising popularity of remote learning
New Consumer Landscape: Future outlook
Strategies for success
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