Cost Pressures – Shopping Trends and Consumer Insights
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Cost Pressures Market Report Overview
Consumers across the globe are pessimistic about their country’s economic scenario over the next six months. However, a significant part of the population believe the economies to decline in the coming years. The economic adversities will adversely impact retail spending as consumers plan to cutback on costs. Retailers should opt for cost-effective alternatives, with a focus on promoting value for money, to drive retail spending.
Consumers are changing their purchasing patterns in response to inflationary pressures, placing a higher priority on necessities like food and groceries, cosmetics, and apparel, and cutting back on expenditures on high-end, non-essential items like electronics, furniture, and home goods.
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The cost pressures report provides a detailed analysis of shopping trends in different countries and among generation demographics. The report also analyzes the motivations for purchasing among consumers and their perspective toward future spending, sustainability, and ethics in fashion.
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Key Trends within Cost Pressures
A few of the key trends driving the cost pressures market are the prioritization of essential sectors, adapting to rising prices, and retailer initiatives to entice spend in big-ticket categories.
Amid high inflation, consumers are increasingly spending more on essential items such as food & grocery, health & beauty, and clothing. In comparison, many are spending less on discretionary sectors such as entertainment, furniture & floorcoverings, electricals, and homewares. This shift in prioritization is consistent across countries, with consumers maintaining or boosting spending in essential categories.
For this purpose, retailers should prioritize promoting cost-effective alternatives to dining out, encouraging consumers to from restaurant dining or ordering takeout to exploring a retailer’s dine-in options, ready meals, or cooking from scratch at home.
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Consumer Insights
Sectors dealing with big-ticket items should emphasize spreading the cost of purchases, encouraging consumers to buy rather than postponing until it becomes necessary to replace essential items and appliances. Furthermore, the silent generation is notably more pessimistic about their financial prospects compared to younger demographics.
Cost Pressures Market Analysis by Consumer Insights
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Scope
- The report provides a detailed analysis of shopping trends in different countries and generations.
- The report analyzes the motivations for purchasing, future spending, and opinions on sustainability and ethics in fashion.
- The report covers future spending on secondhand clothing & footwear globally.
Reasons to Buy
- Identify how rising inflation is influencing the cost pressures market globally.
- Learn about where the demand lies, to allow you to maximize customer acquisition.
- Understand consumer sentiment in the cost pressures market depending on generations.
Carrefour
Colruyt
Tesco
Shein
Temu
Sephora
Boots
Klarna
Apple
eBay
IKEA
Kohl's
Table of Contents
Frequently asked questions
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Which generation is likely to spend more on cost pressure items in 2024?
The silent generation is the leading generation spending more on cost pressure items in 2024.
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Which countries have a notable preference for retailer brands?
In Spain and Germany, there is a notable preference for retailer-owned brands.
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What are the key trends within the cost pressures?
A few of the key trends driving the cost pressures market are the prioritization of essential sectors, adapting to rising prices, and retailer initiatives to entice spend in big-ticket categories.
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