While Millennials was the largest generational group in Sweden in 2023, Generation Z is becoming a powerful consumer cohort. Both generations are tech savvy and comfortable with using digital platforms and marketplaces when making purchases. This is pushing businesses to innovate with new digital solutions, and Sweden is also well on its way to become a cashless society.
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Overview:
Consumer Profiles reports provide key insights into the country's consumer landscape and uncover related business opportunities in 40 countries.
The Consumer Profiles offer valuable statistics and insights into key consumer indicators, linking household size, age, income, and spending patterns to behavioral trends and consumption habits. Utilizing a wide range of socioeconomic data, these reports quantify behaviors, preferences, and motivations both presently and forecasted across 40 markets. Analysis also encompasses Euromonitor’s lifestyles survey results, alongside the examination of longer-term shifts in consumer attitudes and behavior, analyzing their impact within each of the 40 countries. Consumer profiles are constantly changing, influenced by both socioeconomic factors and behavioral changes. Understanding these shifts is imperative for businesses to maintain competitiveness and adapt in order to capitalize on emerging opportunities.
The Consumer Profiles in Sweden report includes:
A high-level analysis of socioeconomic data, including insights on demographics, income and expenditure, households, and consumer lifestyles backed by both in-house statistics and survey data. It also provides a concise compilation of socioeconomic data, offering a snapshot of the consumer landscape today (2022) and in the future (2040). The report is also illustrated with relevant and actionable case studies
The Consumer Profiles in Sweden report answers:
- How consumers in Sweden are changing?
- What are key changes in Sweden population, society and generational structure and how it is affecting businesses?
- What is the household structure in Sweden and how it is changing consumer landscape?
- What are key income groups in Sweden? What is the outlook for the future?
- Where consumers are spending the money in Sweden?
- How is the consumer mindset in Sweden changing?
- In Sweden, what are consumer attitudes towards “green” and sustainable products?
- Where and how do consumers shop in Sweden?
Scope
Key findings
Key drivers affecting consumers in Sweden in 2023
How developments today shape consumer of tomorrow
Today 2023: Share of the urban population in Sweden well above the global average
Today: The share of foreign-born population has almost doubled in the past two decades
Swedes currently face lower health risks, but obesity rates set increase
Tomorrow 2040: Median age in Sweden set to rise
Tomorrow: Gen Z’s consumer power to increase substantially by 2040
Tomorrow: Urban communities adapting to growing diversity
Opportunities for growth
Case study: Oiva Healthcare supports the elderly to lead an independent life for longer
Today 2023: Single-person households much more prominent than the global average
Today 2023: High housing prices contribute to low home ownership in Sweden
A safe location has become the most important home feature as urban crime surges
Tomorrow: The share of higher income households is expected to rise
Tomorrow: In contrast to rest of the world, women more likely to be household heads than men
Tomorrow: Sweden among the most digitalised countries – nearly everyone to be connected
Opportunities for growth
Case study: Mantle desires to change anti-ageing narrative – restricts Gen Alpha from buying
Today 2023 : Swedes stretched financially as disposable income falls, while cost of living rises
Today: A jump in cost of everyday items hits the lowest income households the most
Today: Boomers feel secure with their financial situation, while Gen X are most concerned
Tomorrow 2040: Highest earning Swedes forecast to be those over 50 years of age
Tomorrow: The youngest consumer group to experience fastest growth in disposable income
Tomorrow: Higher cost of living driving spending in Stockholm
Opportunities for growth
Case study: Ikea Home app’s Energy Insights guides users to smarter energy use
Key findings consumer survey
All generations value quality in household purchases
Repairing, recycling and minimalist lifestyles more common in Sweden than elsewhere
Boomers and Gen X are more likely to engage in green activities than younger cohorts
Swedes concerned about their finances, often due to substantial debt
Swedes prioritise work-life balance, although for Gen Z a good salary is more important
Opportunities for growth
Case study: Circular sportswear store Houdini Circle responds to recycling and minimalism trends
Key findings
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Gain a thorough knowledge of shifting consumer landscape and attitudes s and fill in information gaps to inform product/service development, market positioning and channel strategy.
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