Key consumer trends for 2024

Key insights include:

• Young consumers in emerging markets are particularly pivotal, showing a willingness to spend on premium products.
• Older consumers are also spending more freely on discretionary items, contrary to traditional expectations.
• The wellness market is experiencing robust growth, with global interest in health products and services intensifying.

The report outlines four imperatives for businesses aiming to succeed in this evolving landscape:

1. Develop microtargeting capabilities to better understand and reach specific consumer segments.
2. Invest in the wellness sector to capitalize on growing consumer interest and purchasing power.
3. Enhance social-digital experiences to engage consumers effectively online.
4. Offer premium products in relevant categories to improve brand loyalty and meet consumer expectations.

These strategies are crucial for companies looking to adapt to the dynamic consumer environment and achieve sustainable growth and competitive advantage.