Future of Consumption: A Structured Approach to Identifying Opportunities

June 2024

Businesses today face the challenge of achieving and accelerating growth amid historically weak economic expansion and a rapidly changing environment. To unlock growth opportunities and proactively position themselves ahead of the competition, they must understand the drivers of change, the consumers to target, and where to play. Above all, they must be prepared for the future of consumption.

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Key findings

Identifying growth opportunities is more challenging than ever

Achieving and accelerating growth are key business objectives for many companies. However, in the current economic and consumer environment, characterised by high operating costs, rapid changes, disruptions, uncertainty, and constrained consumer budgets, identifying growth opportunities is more challenging than ever.

The future of consumption is shaped by a variety of factors that intersect and interplay

Numerous factors spanning economies, societies, and technologies intersect and interplay with each other to create a dynamic and complex landscape for future consumption. The evolution of household structure, demographic shifts, technology penetration, and value changes are among the most influential drivers that shape tomorrow’s consumption.

Four generations that shape future consumption today

Generation Z and millennials are leading the charge in redefining consumption patterns through their digital fluency and social consciousness. Generation X and baby boomers shape future consumption with their substantial purchasing power. Focusing on the generations that shape future consumption today provides an actionable framework for businesses.

Pinpointing growth markets requires a comprehensive approach

Companies need to adopt a comprehensive approach that integrates insights from the target segment analysis and incorporates a wide range of factors beyond demographics, income and expenditure, and other socioeconomic data in order to identify growth geographies and unlock opportunities.

An actionable approach to identifying and capitalising on growth opportunities

By understanding the drivers of future consumption, focusing on generations that shape tomorrow’s consumption today, and applying a wide range of metrics to identify high-potential markets, businesses can strategically position themselves for sustained growth.

Why read this report?
Key findings
The challenge of driving growth as consumers embrace a less materialistic life
Understand the future of consumption to turn challenges into opportunities
The trends that shape future consumer needs and preferences
Many factors intersect and interplay to shape the future of consumption
Next Age: The first start-up accelerator in Europe targeting the silver economy
Airbnb: Singleton-focused feature ensures safe solo travel experiences
Understand the interplay of key trends and influences to remain relevant
Navigating diverse generational impacts
Understand these four generations to drive growth
Two in three global consumers are looking for ways to simplify their life
TikTok Shop: Accelerating growth through e-commerce aimed at younger consumers
JD.com: Launching its Singles Day on the Chinese “Senior Citizens’ Festival”
Catering to the characteristics of each generation to build brand loyalty and achieve growth
Combining a variety of factors to measure market potential more accurately
Gen Z Market Potential Explorer: A sample framework to pinpoint high-potential markets
Amazon Inspire enables consumers to shop in a social media format
Case Study: Toyota's C+walk S promotes successful ageing for older adults
Pinpointing growth markets requires a comprehensive approach
Diligent groundwork for future success
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