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

FUSE 2015: BRAND STRATEGY & DESIGN
April 13-15, 2015
IIR will hold the annual FUSE conference on April 13-15 at in Chicago.
MYSTERY SHOPPING PROVIDERS ASSOCIATION EUROPE CONFERENCE
April 17, 2015
The Mystery Shopping Providers Association will hold its annual Europe conference on April 17 in Budapest, Hungary.

View more Related Events...

Related Articles

There are 861 articles in our archive related to this topic. Below are 5 selected at random and available to all users of the site.

Achieve satisfaction through customer experience management
Customer experience management (CEM) views the customer as a whole series of interactions across a variety of channels. CEM incorporates customer satisfaction and customer experience measurements, as well as customer relationship management, into one complete view of the customer across channels.
Data Use: Arbitrary incoherence, or, a failure to replicate
In a follow-up to his May 2010 article on the same topic, the author reports on his attempts to further investigate the impact - or lack thereof - of arbitrary coherence.
Trade Talk: Study examines choices between national brands, private labels
A review of the findings of the report Why Do Consumers Pay More for National Brands than for Store Brands?, based on two consumer studies to collect data on the premiums consumers say they would pay for products in various categories.
Hilton uses research in creation of vacation promotion
Hilton Hotels Corp. conducted a telephone survey of 1000 adults regarding their weekend leisure and work habits in the development of its BounceBack Weekend vacation program.
Thoughts on using the new online qualitative tools
A corporate researcher offers an overview of some of the newer online qualitative methods, from MROCs to mobile, and the best ways to use them.

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