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Affordability, Value and the Cost of Living: Where Do Opportunities Lie?

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  • 29 Pages
  • November 2023
  • Region: Global
  • Euromonitor International
  • ID: 5908567

Rising costs of living pose challenges globally, but companies can find opportunities in several categories, essential and discretionary, especially in underpenetrated fast-growing markets. By considering category adjacencies and focusing on value, innovation, and aligning with evolving consumer lifestyles, businesses can safeguard profit margins and foster long-term growth.

Strategy Briefings offer unique insight into emerging trends world-wide. Aimed squarely at strategists and planners, they draw on the vast information resources to give top line insight across markets and within consumer segments. Written by some of our most experienced analysts, they are designed as provocations for senior management to use in their own forum, allowing them to stand back and reflect on the behaviour and motivation driving global markets today and tomorrow

Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.

Key Findings

Cost-of-living crisis continues to impact consumer

In 2023, global disposable income per household fails to keep up with inflation. Consumers continue to grapple with the challenges posed by the rising costs of living. Though the pressure on consumers is expected to ease over the forecast period, they will remain cautious spenders. Thus, companies need to actively seek opportunities to be future ready.

Opportunities for growth are numerous and varied

As total global consumer expenditure is expected to increase by 13.5% from 2023 to 2028 at constant 2022 prices, categories such as food and non-alcoholic beverages, education and transport, continue to show strong forecasts. Tapping into the previously mentioned industries is a way to safeguard and expand profit margins.

Promising frontiers are beyond obvious markets

Developing and emerging countries are key for the future with strong consumer expenditure forecasts and wide room for growth. These regions offer business opportunities due to sizeable consumer bases, increasing purchasing power, growing awareness and reach, and untapped underpenetrated markets.

Value proposition to take centre stage

With escalating costs and constrained budgets, consumers seek to maximise the utility derived from their expenditure. Thus, despite global circumstances, the enhancement of value proposition is imperative to attract and retain consumers. For this, addressing consumer needs through direct consumption solutions and added-value innovations is crucial.

Why buy this report?

  • Identify factors driving change now and in the future
  • Understand motivation
  • Forward-looking outlook
  • Briefings and presentation should provoke lively discussion at senior level
  • Take a step back from micro trends
  • Get up to date estimates and comment

Table of Contents


  • Scope

  • Key findings

  • Exploring Where do opportunities lie?

  • Exploring opportunities to be future ready
Diversify and synergise

  • Keep an eye on consumer expenditure forecasts for finding opportunities

  • Diversify and synergise categories to grow
  • PrimeBook , an Indian start-up, launches affordable laptop for learning
  • TikTok enters online retailing space with TikTok Shop
  • Sasa , a sauces, dips and condiments player, launches beauty products in Indonesia
Diversify and synergize

  • Looking beyond core business to benefit both businesses and consumers
Go beyond big and obvious markets

  • Developing and emerging markets are promising frontiers

  • Unmet market potential shows the large size of the prize

  • Darling Nigeria ensures affordability and value in its offering to consumers

  • Exploring untapped geographies to present growth prospects
Unlock potential through value and innovation

  • Innovate and enhance value proposition to attract and retain consumers

  • Pizza Pizza’s Growflation pizza give more value from lower price

  • BNPL by Tabby in the UAE aims to aid shopping experience with financial flexibility

  • L’Oréal’s YSL Scent- sation personalises fragrances through emotion analytics

  • Focusing on value and innovation key to growth and expansion

  • Key takeaways

  • Where do opportunities lie?: How to win

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • PrimeBook
  • TikTok
  • Sasa
  • Darling Nigeria
  • Pizza Pizza
  • Tabby
  • L’Oréal