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Home > Consumer Products > Shopping & Stores > Shopping & Demographics
Global Consumer Trends: Income Complexity
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| Published Date:
October 2009
Published By:
Datamonitor
Page Count:
125
Order Code:
R313-56776
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Introduction
Datamonitor's Income Complexity Mega-Trend reflects the fact that consumers' financial circumstances and attitudes towards wealth are become increasingly complex. Consumers are becoming wealthier, but the global economic crisis has prompted consumers to scrupulously re-evaluate their spending habits. While they have significantly reined in spending in some categories, they are trading up in others
Scope- Detailed trend analysis outlining what constitutes 'value' for consumers (trends are, after all, a reflection of what's important to consumers)
- Global in focus, but also offers country-by-country and sector insights thereby catering to top-line or more specific information needs
- Covers all major FMCG sectors, but also with applicability to wider consumer goods audiences
- One of 10 dedicated mega-trend reports outlining the most important issues shaping global consumers' buying behavior both now and in the future
Highlights
There is a growing inclination for consumers to shop at both the premium and value ends of the FMCG market. Rising incomes and quality expectations drive the market for premium products that claim to offer everyday luxury. Conversely, a proliferation of lower-cost products of similar quality to big brands is strengthening value market appeal
Distinctions between emerging and developed markets are important while the pursuit for value is universal, the propensity to trade up is generally favored by consumers in developing nations. Newly-acquired wealth has presented these shoppers with an abundance of product and brand choices, and subsequently cultivated an appetite for premium wares
Consumers are attaching increasing importance to experiential consumption over wealth accumulation. Thus brand name and designer labels alone will not suffice to communicate luxury, especially now that even everyday categories have premium iterations, diluting the notion of material luxury altogether
Reasons to Purchase- Understand the significance of the different income-aligned trends across territories and FMCG sectors to help support market diversification plans
- Save time and gain maximal insight by using this 'one-stop-shop' resource which offers a clear and up-to-date framework for understanding consumers
- Access data from two waves of global primary research to increase the likelihood of being 'on-trend' with NPD and marketing activities
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