Voice of the Consumer: Lifestyles Survey 2024 Key Insights

May 2024

The Voice of the Consumer: Lifestyles Survey report 2024 highlights important shifts in consumer values, consumption patterns and sentiment. This year’s report focuses on making sense of significant changes in consumers’ lifestyles over the past five, turbulent years. Key themes include consumers’ outlook, responses to high inflation, attitudes towards sustainability, retail preferences and relationship with technology.

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This report comes in PPT.

Key Findings

Good vibes, mostly

Consumers are feeling more optimistic about the future and increasingly less worried about global affairs. After a long period of navigating crises and restrictions, consumers are ready to look on the bright side and will be more responsive to positive interactions and experiences.

High inflation come-down

The economic burden placed on consumers by inflation is lessening. Consumers are still concerned about the rising costs of goods yet are also showing signs of cost-saving fatigue, expressing less interest in things like bargain hunting. Willing but still cautious to spend, consumers are set to be more discerning than frugal, with a noticeable shift towards quality name brands.

Sustainability for whom?

Sustainability is not a trend, but it is falling out of fashion. Consumers are developing a more mature understanding of what kind of sustainable goods, activities and claims make sense to them and are focusing on these.

The omnichannel shuffle

Globally, consumers are less motivated by both online shopping and in-store shopping. Rather than a trend away from consumerism, this is a sign that consumers are thinking less about channel advantages or limitations. Thanks to retailers' efforts to develop omnichannel or hybrid services, consumers can have it whichever way they want.

Consumers’ relationship with tech

Consumers mostly use technology devices for communication and social media. In 2024, the share of consumers making purchases via social media apps increases significantly. As social media apps integrate formal marketplaces, consumers will re-examine their stances on privacy and the utility of technology in their lives.

Background and coverage of the Voice of the Consumer: Lifestyles Survey
Key findings
Global consumers are the most optimistic since the start of the pandemic
Consumers are less worried about the state of the world
Outlook varies significantly across regional and generational differences
Lego taps into feel-good vibes for both adults and children
Consumers still feel impacted by the cost of living
Consumers are willing to spend, but still feel the pressure of inflation
Bargain hunting falls as preference for brands grows
Indian smart wearables are surging, thanks to offering quality at the right price points
Consumers are more resigned about sustainability, but recognise its value
Sustainability claims show significant variation across industries
Oatly moves past sustainability as a brand-defining theme
Global consumers are overall less motivated by channel characteristics
Baby boomers still the least likely to make online purchases
Retail is already pushing the limits of omnichannel experiences
Consumers’ heavy use of social media is quickly being commercialised
Generations report different relationships with tech but all share a high sense of dependency
Brands like TikTok are finding success through formally commercialising social media
Information about Euromonitor International’s syndicated survey methods
Lifestyles Survey offers insight into consumer habits and attitudes
Lifestyles Survey: FAQs


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