Six Factors Driving Consumers' Quest For Convenience
Hyperconnectivity and busy lifestyles are influencing buying decisions of global consumers. Global consumers want convenience at every stage of shopping and brand engagement with products and services. However, convenience means different things to different consumers, and it’s increasingly important to understand the regional and global trends centered around the need for convenience. There are six key factors driving consumers toward convenience and by understanding them, fast-moving consumer goods (FMCG) companies can adapt and enhance their solutions as consumer needs rapidly evolve.
Rapid urbanisation and changes in households are also influencing buying decisions of global consumers. By 2025, around three quarters of Europe's population (80% - West Europe, 71% - East Europe) will live in cities and towns — that’s 26 million more people than today. Meanwhile, the household size in this region continues to shrink at the same time. Therefore, it’s not surprising that one in three East European consumers say they seek out products which make life easier (31%) and convenient to use (31%), while around one in five consumers are looking for products suitable for small households (18%) and tailored to a specific need (15%).
Since consumers don’t articulate convenience directly, FMCG companies can get insights from consumer activities during their start-to-finish experience with products and solutions. FMCG companies need to adapt ‘convenience’ at the centre of their offering so that they can address consumers with better products and solutions and remain ahead of the curve.
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- Product range, assortment and category management
- Retail format, loyalty data and e-commerce
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- Product design and innovation
- Promotional effectiveness and more