It’s rational that shoppers would be willing to pay more for a product that is of a higher demonstrated quality or value, but there is also a more subjective component that factors into many shoppers’ ideas of what premium means.
As 2018 starts to wind down, economic and consumer spending trends for a majority of markets around the world are in better standing than they were earlier in the year.
A new era of sustainability is rising and it’s touching every corner of the world. Consumers in markets big and small are increasingly motivated to be more environmentally conscious and are exercising their power and voice through the products they buy. But why do these shifts feel so urgent?
A slight drop in consumer sentiment in the second quarter was reflected in a slight pullback in spending in certain markets, as skepticism about the future had some consumers feeling as though their free cash would be better served in savings rather than on discretionary purchases.
In addition to being hyper connected and digitally driven, Millennials are focused on personal experiences. And for many, those experiences happen away from home. Notably, Millennials are very interested in travel. In fact, they travel more than any other generation, including Baby Boomers.