New Consumer Landscape: Households and Homes

Delivery

This report comes in PPT.

Key Findings

Urban expansion most prominent in developing nations

With the global population forecast to reach 8 billion by the end of 2023, rapid urbanisation is a natural consequence. Cities in emerging markets in Asia Pacific and the Middle East and Africa are experiencing a major influx of residents seeking greater economic opportunities and inclusion. By 2040, 64% of the world’s 9 billion inhabitants will be urban residents living in major cities.

Households starting to shift from family orientated to solo-tailored homes

Single-person households are the fastest growing household type, although couples with children remain the largest type. Couples with children are the largest grouping in terms of consumer expenditure. While food and beverages still account for the biggest portion of spending, education has seen a significant increase in all regions of the world.

The modern household: an all-inclusive in-home experience boosted by connectivity

The rise in broadband and mobile internet access across developing nations has been a massive enabler for consumers to benefit from the latest in technological advancements. The rise in digital consumers is a substantial opportunity for businesses and companies to engage and interact both with consumers who are new to the advances and with those who have been early adopters.

Who to target and how to stay ahead of the game

Consumption potential is limited by spending power, evident in the strong contrast between the levels of consumer expenditure in developed nations compared with emerging markets. Likewise, expenditure varies between types of household, as consumer needs, desires, incomes and spending behaviour differ. Identifying these differences is crucial.