In the Voice of the Industry (VOI) series, Euromonitor connects with industry professionals to explore trends and innovations. This report draws on insights from a new addition to the series, VOI Lifestyles, and explores how and why businesses are rethinking strategy planning to put the consumer centre stage, alongside sustainable initiatives and technological investment.
This report comes in PPT.
Uncertainty andfinancial concerns are rising among consumers who are spending less and morecautiously. As they increasingly question their investments, value for moneybecomes the most important purchase criteria.
Consumers are returning to stores but confidence is low. Still fearful and guarded, they are choosing shops with appropriate safety measures in place and that enable them to shop quickly and efficiently with limited interaction.
Shifts in consumer behaviour are having a lasting impact on sales across industries as new habits and routines, especially around connectivity and health and wellness, become more permanent.
Business that puts consumers at the centre of strategic thinking will fare better as consumers expect brands to understand and respond to their changing needs.
Companies are adapting and investing to leverage new opportunities, but they must ensure change is aligned with consumers’ values and priorities in order to succeed.
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