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Evolving Consumer Landscapes: Key Socio-Demographic Trends Driving Consumer Choices
Datamonitor, Sep 2010, Pages: 180
Prevailing consumer trends are fundamentally underpinned by socio-demographic and socio-economic factors. These factors serve to shape our societies, and, when considered in context of the ascendancy, or otherwise, of particular consumer trends, can be used as a powerful input to explain current consumer attitudes and behaviors, and also to measure future trends and their likely success.
Scope:
- Detailed data on key indicators across 8 themes: Demographics, Wealth, Work, Home & Family, Education, Urbanization, Migration, & Connective Consumers
- Quantitative analysis on over 30 factors such as population size and growth, employment by sector, spending by category, average incomes, etc
- Helps you to understand the underlying forces that shape consumers’ lifestyles, mindsets and priorities, and thus the development of consumer trends
- Historic and forecast data allows you to track the evolution of the consumer audience, with consequences for future planning
- Covers 20 countries across 5 regions and is essential for all businesses looking to understand the basic forces shaping the modern consumer
Highlights
The shifting center of gravity in populations that are getting older makes it imperative for the industry to understand and respond to the fact that accepted truths about key consumer cohorts will be tested and need adjustment. The emphasis placed on Young Adults as the prime target for marketers will need to be moderated out of necessity.
The changes in household status and size have much to do with the lengthening of certain lifestages. People are remaining single for much longer, couples are putting off marriage and having children, and longer lives lead to a longer empty nester/Senior lifestage. The market opportunity in this is that consumers are stretching out various stages.
The opportunity for meeting the trading up needs of increasingly sophisticated new middle class consumers in the high growth markets is there. But businesses must however consider that the largest scale opportunity is still that based on 'serving the underserved' - the overwhelming majority of low income consumers in those countries.
Key questions answered:
- What are the key categories for consumer expenditure?
- How are income levels changing and what effect will this have on consumer behavior?
- Are consumers spending less and saving more in light of the global economic crisis and will this change over time?
- What is driving the aging of populations globally and how will this affect our marketing approaches in the future?
- How are household structures changing and what could this mean for consumer-facing businesses?
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