When analyzing the marketplace, firms should study global consumer segments. Indeed, the marketplace is heterogeneous. That means many good opportunities for insightful marketers.
For starters, read these posts:
A Euromonitor Analysis of Global Consumer Segments
In recent research, Euromonitor International focused on these issues:
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- Will consumers who carefully plan their purchases swayed by low
prices? - Is a consumer who follows all the latest trends more likely to be
influenced by social media and celebrity endorsements? - Will a consumer who deeply cares about green and eco-friendly
products willingly pay more for these features? - Is a consumer who is focused on experiencing life to the fullest less
likely to buy materialistic products? - Will a consumer who focuses on living a balanced lifestyle be less likely
to make impulse purchases? - Is a consumer who worries about their future less likely to buy
premium and branded goods?
- Will consumers who carefully plan their purchases swayed by low
“During 2019, empowered and connected consumers will leverage technology to manage nearly all of their lifestyles decisions. Now, you may find out how consumer behavior will evolve. As well as which trends will have the most impact throughout the year. Understand which consumer trends reign in 2019. In addition, identify factors that affect consumer purchasing decisions. Furthermore, learn how to target consumers based on what they value in products, brands and companies.”
For access to the full report, a free login is required. Click here.
Through its research, Euromonitor identified 10 global consumer segments. See the following chart. And click the link above to access the full report.
For an-depth overview, watch the following Euromonitor video. Please note: The video runs for 30 minutes.
In today’s marketing agenda, consumers has the access to the internet. The internet opens many information to various party of the world. Consumers are so engaged into the world of internet that it has created a trend called FOMO fear of missing out. Basically consumers always would like to get hands on anything that seems to come first early. Additionally, the rise of digital trends has been the cause of consumers to look out for all the question that have been stated in the article above. Imagine this happening in five to ten years ago.
From the GCT 2019, we can see that percentage of senior citizens are increased rapidly all around the word. And also, senior people usually have great spending power due to their positions or heritage from elder generation. They will grow up to most profitable consumer segmentation. It is worth mentioning that this group of people have a lot of interests in making a difference to the word rather than just getting older. So trying to provide them with interesting, pioneering, even risky services and products is probably the way to gt
It’s amazing how people today act like they could not survive without the internet. This answers why consumers behave the way they do. The internet has such an impact on what people buy, how they dress, and what they do on their free time. The internet, however, is what connects all parts of the world, creating global trends. But like the chart states, people in 2019 are minimalist seekers and they were not in the past two years. I believe that is because they seek to follow what is currently in and that is all they really care for. It is not much, just to stay connected.