Voice of the Industry: Consumer Lifestyles 2022

February 2023

This report highlights the results of Euromonitor International’s Voice of the Industry: Lifestyles survey capturing insights on consumer behaviour, shopping and spending priorities and corporate strategy objectives from professionals working in companies spanning industries and geographies.

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This report comes in PPT.

Key findings

Focus on growth based on innovation and investigating and making the most out of new sales channels

Concerns about rising inflation and the boost in the cost of living are prompting consumers to focus their attention on obtaining value and getting the most from their money.

The ongoing shift to a hybrid work-from-home model is resulting in consumers enjoying a more fulfilling work-life balance

Consumers are increasingly looking for solutions that will help them to simplify their day-to-day lives. While convenience is still important, finding more time to enjoy life and reducing stress are even better.

Demand for products and services that simplify consumers’ lives eclipses demand for convenience

The successful implementation of hybrid working models remains a key challenge for many businesses. Demand for products and services that fit the requirements of people working in multiple locations, including in offices or other central workplaces, homes or a variety of third spaces, will continue to grow and evolve.

Value for money remains the top priority for consumers as they are concerned about rising prices

Businesses are finding that they can maximise revenue growth by finding new ways to engage with their core audience. They must also continuously monitor consumers' perception of their products and services and consistently add value.

Businesses are focusing on enhancing digital interaction with consumers and engaging shoppers more creatively on the path to purchase

Companies are focusing their attention on building their engagement with their online community as they feel that this will have an influential impact on their sales over the coming months.

Voice of the industry: Consumer lifestyles survey snapshot
Value for money remains at the top of the values list
Lidl private label alcohol products: quality for less
The Fresh Fridge: Helping consumers make mindful eating decisions
Shifts in consumer behaviour to further influence sales in the year ahead
Six consumer trends spotlighted as having the most influence
New approaches to the shopper journey: One of the most influential trends in 2022
ShopperON transfers reality-like shopping experience to home
Amazon Inspire enables consumers to shop in a social media format
Businesses expect consumers to focus on essential purchases
FairPrice Group helps consumers cope with the increasing cost of living
Price-conscious consumers expected to seek better value
IKEA launches online shopping platform “As is” for second-hand items
State of the local economy is the most important factor shaping decision-making in 2023
Corporate awareness of consumer behaviour and trends by industry
Rising cost of raw materials significantly affects companies’ performance in 2022
Companies forced to revisit pricing with many passing rising costs on to consumers
Prioritising growth, while shifting focus on cost reduction and bracing for the slowdown
Marks & Spencer introduces a cost-of-living support package for employees
Key Findings
About Euromonitor International’s Voice of the Industry Survey series


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