The Great Consumer Awakening: How the World’s Most Powerful Consumers Are Taking Control
In a shocking turn of events, the world’s leading consumer intelligence company, NielsenIQ, has released a report that reveals the most powerful consumers are no longer just worried about their wallets, but are now determined to take control of their spending habits. The Mid-Year Consumer Outlook: Guide to 2025 report shows that despite the uncertainty, consumers are more resilient than ever, and are willing to spend more – but only if it’s worth it.
The Rise of the Intentional Consumer
The report highlights a significant shift in consumer behavior, from cautious to intentional consumption. Consumers are no longer just cutting back on non-essentials, but are now making deliberate choices about where they spend their money. With 67% of consumers willing to switch to a new brand for lower prices, it’s clear that price is no longer the only factor driving purchasing decisions.
The Top Trends Shaping 2025 Spending
The report identifies four key trends that will shape consumer spending in 2025:
- Rising Food Prices: With 60% of consumers saying they will buy fewer snacks and confectionery products if prices continue to increase, it’s clear that the cost of living is a major concern.
- The Rise of Private Label: With 50% of consumers buying more private label products than ever, it’s clear that the trend towards affordable, high-quality products is here to stay.
- The Impact of GLP-1 Drugs: With 31% of global consumers likely to use a medication or drug to support weight loss, it’s clear that the wellness industry is booming.
- The Evolution of Omnichannel: With 36% of consumers saying they would spend more on a purchase because of an in-app experience, it’s clear that the social commerce revolution is changing the way we shop.
The Consequences of Uncertainty
The report also highlights the consequences of uncertainty, including:
- Global Conflict: With 20% of consumers citing global conflict as a top concern, it’s clear that the world is a more uncertain place than ever.
- Economic Downturn: With 19% of consumers citing the threat of an economic downturn as a top concern, it’s clear that the future is uncertain.
- Climate Change: With 14% of consumers citing climate change as a top concern, it’s clear that the environment is a major issue.
The Future of Consumer Spending
The report concludes by highlighting the need for businesses to adapt to the changing consumer landscape. With consumers more powerful than ever, it’s clear that businesses must prioritize value, sustainability, and transparency if they want to thrive in the years to come.
Download the Report Today
To learn more about the Mid-Year Consumer Outlook: Guide to 2025 report, download it today and sign up for our global webinar, being held Sept. 24, 2024, at 10 a.m. EST. Click on the link to register for the event.
