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

2014 PHARMA CI CONFERENCE AND EXHIBITION
September 9-10, 2014
The 2014 Pharma CI Conference and Exhibition will be held on September 9-10 at the Hilton Parsippany Hotel in Parsippany, N.J.
CONSUMER INSIGHTS AND ANALYTICS
September 10-12, 2014
Marcus Evans will host a conference, themed 'Consumer Insights and Analytics,' on September 10-12 in Amsterdam.

View more Related Events...

Related Articles

There are 787 articles in our archive related to this topic. Below are 5 selected at random and available to all users of the site.

High-tech mystery shopping: Using audio and video shopping effectively
Mystery shopping has become a standard corporate practice, with results that can be used in training and employee reward programs. This article discusses how companies that use results in a positive manner can be enhance their efforts by adding audio and video. The discussion includes benefits of audio and video shopping, how audio and video shopping work, cost and using mystery shopping effectively.
More American workers dining at their desks
Three trending viewpoints in the field of voice-of-the-customer
Gerry Katz chronicles three current takes on the voice of the customer – the Naysayers, the Stretchers and the Technovangelists – and argues that while these views are seen as negative by the field’s purists, there are connections that actually bode well for the future of VOC in all of its various incarnations.
Ethnic marketing: Can researchers be agents of social change?
Ethnic marketing and research can be an effective way to target and ad and empower ethnic communities themselves by revealing their collective buying power, but the practice of ethnic market segmentation can also be divisive and exclusive. The author calls on researchers to check their biases and revisit the ethnic marketing model.
Don't depend on transactional data to get the full picture
Using Kmart as an example, this article discusses the importance of conducting more thorough research for decision making.

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