Skip to: Main Content / Navigation

  • Facebook
  • Twitter
  • LinkedIn
  • Add This

Trade Talk: Checking in with global consumers



Article ID:
20140102
Published:
January 2014, page 10
Author:
Joseph Rydholm, Quirk's Editor

Article Abstract

This article highlights a few of the findings from the Euromonitor's Global Consumer Trends survey for 2014.

Though no one is whistling “Happy Days Are Here Again,” as we turn the calendar to a new year, it does seem that the worst of the recession is behind us here in the U.S. Globally, things have largely stabilized as well, though low rumblings of economic and/or territorial issues in China aren’t going away.

As for other issues on the horizon, the World Economic Forum Outlook on the Global Agenda 2014 ranked the following as the top trends for the coming year, by global significance:

  1. Rising societal tensions in the Middle East and North Africa
  2. Widening income disparities
  3. Persistent structural unemployment
  4. Intensifying cyber threats
  5. Inaction on climate change
  6. The diminishing confidence in economic policies
  7. A lack of values in leadership
  8. The expanding middle class in Asia
  9. The growing importance of megacities
  10. The rapid spread of misinformation online

While these and other potential factors loom, consumers around the world have generally started to loosen their purse strings a bit, though our addiction to bargain-hunting, which the recession has fueled and the Internet and smartphones have made possible, endures.

As consumers move from just getting by to getting more out of life, what’s on their minds? One set of viewpoints comes from research firm Euromonitor, which has released results from its Global Consumer Trends survey, in which the lifestyle traits of 16,300 online consumers in nine major developed and emerging markets – Brazil, China, France, Germany, India, Japan, Russia, the U.K. and the U.S. – are examined.

As taken from Euromonitor press materials, here is an overview of some of the findings (an entry in the December issue’s Survey Monitor section – “What’s coming in 2014” – also had a look at some of the survey data).

Consumer spending intentions. Even in developed markets, where economies have been hit hard, younger consumers are twice as likely as their older counterparts to anticipate increasing their spending in the next 12 months (20 percent of those under 45, compared with 11 percent of those over 45).

Shopping attitudes and key product preferences. Consumers continue to be interested in value in the form of high quality, especially as represented by strong brands and low prices. Independent consumer reviews are eclipsing traditional media, such as TV ads, as the most influential marketing channel in consumers’ minds.

Consumer technology access and activities. Online shopping continues to gain traction among consumers: over 80 percent have now purchased apparel, shoes or consumer electronics online at least once, if not more frequently.

Meal and snack preparation and preferences. Although the availability and acceptance of ready meals and takeout is increasing, consumers are still sitting down to home-prepared meals not just weekly, but daily.

When shopping for food, consumers look for “added vitamins or fiber” on labels and shun artificial ingredients, particularly in emerging markets.

Healthy living patterns. Overall, global online consumers tend to have positive perceptions of their health, particularly in emerging markets. Weight management and dieting is also on the radar for global consumers: 44 percent actively monitor their weight and 23 percent are on a formal diet.

By the way, if you don’t already, you should subscribe to the feed for Euromonitor’s blog (http://blog.euromonitor.com). It’s an oft-updated and consistently interesting source of analysis of demographic, economic and social trends. And best of all, it’s free!

Comment on this article

comments powered by Disqus

Related Glossary Terms

Search for more...

Related Events

ETAIL CANADA
May 11-13, 2015
Worldwide Business Research will hold its conference, 'eTail Canada,' on May 11-13 at the Hyatt Regency Toronto in Toronto.
STRATCONN DIGITAL SHOPPER MARKETING
May 19-20, 2015
StratConn will hold its digital shopper marketing conference on May 19-20 at the Chicago Marriott Suites O'Hare in Chicago (Rosemont). For more information visit www.stratconn.org.

View more Related Events...

Related Articles

There are 869 articles in our archive related to this topic. Below are 5 selected at random and available to all users of the site.

Mystery shopping drives employee incentive program
Sonic Drive-in uses the Sonic Games, an annual incentive program that uses mystery shopping, to motivate frontline employees.
A look at just-about-right scales in consumer research
Just-about-right scales are popular in sensory research but are not without their drawbacks, which this article explores along with the scales’ more beneficial aspects.
The multicultural world of social media marketing
The authors present findings from a survey of social media usage among ethnic groups and argue that as these outlets become more and more a part of multicultural consumers’ lives, companies that incorporate them into their marketing plans will earn the loyalty of these segments.
Responsive design and the road to happy research participants
Can creativity overcome the size, functionality and attention-span constraints of the mobile survey taker and allow online research to live on in a changing landscape?
Use research to keep customers happy and management well-informed
Researching the customer experience can and should involve the use of many methodologies. The author looks at mystery shopping, exit surveys, online and mail surveys, among other methods, and how they can be used to create a full picture of customer interactions with a company.

See more articles on this topic

Related Suppliers: Research Companies from the SourceBook

Click on a category below to see firms that specialize in the following areas of research and/or industries

Industries

Conduct a detailed search of the entire Researcher SourceBook directory

Related Discussion Topics

Are you aware of Allen Solly's Colour Lab App? If yes, what is your opinion about it?
03/03/2014 by Star Glitter
Would you buy your western Wear from Max or lifestyle?and why?
04/30/2013 by min sin
Marketing
08/08/2012 by Vijay P. Kumar
Indexing GAP
07/26/2011 by Felipe B. Fehse
Focus Group Response
03/04/2011 by Steve Hanson

View More