Evolving Lifestyles – Consumer Behavior Tracking, 2023 Update
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This report provides a look into how consumer lifestyles have evolved in the last two years to navigate the post-pandemic era and the cost-of-living crisis.
Globally, consumers have shifted their behaviors and preferences between Q1 2021 and Q2 2023, in order to accommodate new priorities. Whilst navigating the post-pandemic era, consumers are looking for ways to incorporate the new normal into their consumer behavior and lifestyle choices, as pandemic-derived behaviors, such as working from home, become habitual and preferential.
Scope
1) Consumer behavior is becoming less driven by convenience, as consumers opt for the most cost-effective option at the detriment of ease and speed.
2) The increasing cost of living and concern about inflation has urged consumers to prioritize affordability.
3) Concern about physical and mental health has reduced over time.
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