Greg Kelly’s Post

Interesting article on McKinsey's Global Consumption, consumer behabiour and growth categories. Nine trends shaping the global consumer sector and four imperatives to help consumer businesses move from “now” to “next.”

🌍 Shifting Consumer Trends 🌍 McKinsey’s latest report uncovers surprising shifts in consumer behavior. Middle-income groups are splurging despite inflation, while aging populations and emerging market youth are reshaping spending habits. Read on to discover how these nine major trends of 2024 have shifted consumer behavior, and what strategies matter now to stay competitive. #ConsumerTrends #MarketResearch #McKinseyInsights #ConsumerBehavior #2024 https://lnkd.in/gmNpt7BR

The nine trends and strategic imperatives outlined offer valuable guidance for businesses looking to navigate the evolving consumer landscape effectively. A must-read for anyone in the consumer goods sector!

The world is changing fast, and all of those changes affect how consumers behave and what they buy. BCG’s new Consumer Sentiment Barometer asked consumers in six countries about their spending habits and attitudes. We found that while consumers overall are spending more and expect that to continue, the reasons for that and the categories of spending vary among markets. Companies need to know about these differences and adapt accordingly. Read more about our findings here: https://lnkd.in/gPu_ESNQ. #consumersentiment #customerinsights #resilience

🚀 Catch the Wave of Emerging Consumer Trends! 🌍 New McKinsey report highlights key trends: by 2030, 75% of consumers in emerging markets will be aged 15-34, ready to spend on premium brands. In Asia, 60% of consumers plan to continue using new shopping channels adopted during the pandemic, showcasing a shift towards digital and social commerce. 📊✨ #ConsumerTrends #MarketInsights #EmergingMarket

The world is changing fast, and all of those changes affect how consumers behave and what they buy. BCG’s new Consumer Sentiment Barometer asked consumers in six countries about their spending habits and attitudes. We found that while consumers overall are spending more and expect that to continue, the reasons for that and the categories of spending vary among markets. Companies need to know about these differences and adapt accordingly. Read more about our findings here: https://lnkd.in/gPS4N9ap. #consumersentiment #customerinsights #resilience

BCG’s new Consumer Sentiment Barometer asked consumers in six countries about their spending habits and attitudes. We found that while consumers overall are spending more and expect that to continue, the reasons for that and the categories of spending vary among markets. Read more here: https://lnkd.in/esncDfkT. #consumersentiment #customerinsights #resilience

The world is changing fast, and all of those changes affect how consumers behave and what they buy. BCG’s new Consumer Sentiment Barometer asked consumers in six countries about their spending habits and attitudes. We found that while consumers overall are spending more and expect that to continue, the reasons for that and the categories of spending vary among markets. Companies need to know about these differences and adapt accordingly. Read more about our findings here: https://lnkd.in/gkhhp-p3. #consumersentiment #customerinsights #resilience

The world is changing fast, and all of those changes affect how consumers behave and what they buy. BCG’s new Consumer Sentiment Barometer asked consumers in six countries about their spending habits and attitudes. We found that while consumers overall are spending more and expect that to continue, the reasons for that and the categories of spending vary among markets. Companies need to know about these differences and adapt accordingly. Read more about our findings here: https://lnkd.in/gW8tY_ii. #consumersentiment #customerinsights #resilience

Consumer markets in the next six years! The world will see a major shift in the consumer markets over the next six years. This trend has been on for the last couple of decades. The contrast will be more visible in the next years. Most of the global consumer markets will be in Asia. For this chart, the definition of consumer is anyone who can spend more than US$12 per day. While the per capita consumer spending will continue to be higher in Western Europe and the US. The absolute number of consumers in Asia will far outstrip all the other markets combined. The implications: 1. More attention needs to be given by large CPG brands to Asia and its needs. If they don't do that, local and D2C brands will erode their markets 2. Pricing will have to be more in line with Asian markets. How to drive profit at the bottom of the pyramid will become more important. It is not a race down to the bottom but a race to provide the most value to a discerning customer. 3. Go-to-market will have to be re-imagined. Investing in building teams and resources in local markets. Thinking Asia first and how to win here will become more important. The per capita usage of shampoo and rice will only grow in Asia. 4. Weeks of Income paradigm: Most durable companies use this vector for assessing the market size. They will have to rethink the models around Product as a service in these markets. Thoughts?