Global consumers are struggling with the cost of living crisis, as inflation remains high while household income growth lags. Consumers are adopting recessionary habits, such as trading down and being more selective in their spending. Rather than competing solely on price, businesses should prioritise value creation and customer loyalty. Tapping into education, food and drinks industries, reverting to service-based products, and investing in tech are further approaches offering opportunities...
After decades of low inflation, consumers are grappling with rising living costs, prompting shifts in priorities and preferences. This report delves into four major consumer goods industries – apparel, beauty and personal care, drinks, and food – to unpack the nuances of “affordability and value” across product categories. The varied perspectives empower companies to refine strategies and thrive in the new reality where consumers feel the squeeze but remain discerning...
Rising costs of living pose challenges globally, but companies can find opportunities in several categories, essential and discretionary, especially in underpenetrated fast-growing markets. By considering category adjacencies and focusing on value, innovation, and aligning with evolving consumer lifestyles, businesses can safeguard profit margins and foster long-term growth...
Cities are hubs for spending, with 80% of expenditure expected to be generated by urban areas in 2023. Spending growth in 2023 will, however, be sluggish, as cost of living challenges force consumers to be more conservative in their expenditure. Over the next 3-4 years, inflation is predicted to fall, shifting the balance of spending back towards non-necessities; however, consumers are likely to display more conscious consumption habits, valuing sustainability and quality over quantity...
This report provides an in-depth analysis of the potential market strategies for companies in Sub-Saharan Africa amidst the current cost of living crisis. It details how companies can leverage affordability, technology, and values to cater to the needs of the growing population of 1.2 billion consumers, particularly the younger and lower-income segments. It also explores how companies that localize their production could gain a competitive edge...
Consumers are facing increased pressure from rising prices as global inflation reaches 7% in 2023. The impact of higher costs of living is felt from top earners in developed markets to struggling households in emerging and developing countries. Factors such as simplified solutions, extended value ranges and added-value features have proven to be successful. Business that understand the diverse needs, desires and spending priorities of consumers will continue to maintain demand...
After decades of low inflation, companies and consumers worldwide are struggling to cope with the rising cost of living. As a result, businesses must navigate the new consumer reality, in which the focus is firmly on affordability, value, and the cost of living...
After decades of low inflation, economies, companies and consumers worldwide struggle to cope with the surging cost-of-living crisis. While the costs are proliferating, the expansion in remuneration is slow. This squeeze on living standards leads to decreasing discretionary spending, trading down to more affordable items, such as private label, and more frequent visits to discounters. Meanwhile, businesses try to stay afloat by increasing prices, moderating volumes or prioritising streamlined...
European consumers for a long time were quite keen on buying organic goods, however, over the recent volume sales have slowed down...
Sustainable living continues to hold significant relevance for both consumers and corporations, as ethical considerations and moral values grow in importance. This is particularly true in light of the tightening regulations surrounding sustainability reporting and the validation of sustainable claims across the EU, UK and US...
The affordable sustainability dilemma has been present for years, yet in 2023, it has gained relevance as the cost-of-living crisis has limited sustainability adoption. Consumers are highly concerned about climate change and are willing to protect the planet. They want to embrace sustainable lifestyles, yet premium prices are still limiting wider adoption...