How to appeal to changing urban consumer landscape

How to appeal to changing urban consumer landscape
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As part of its ‘how to target evolving urban consumers’ report, Lan Ha, Senior Consultant on Population from market research provider, Euromonitor International, details key findings on how urbanisation is spearheading consumer trends.

Based on this research​, we take a look at how urbanisation is set to impact European brands and consumers alike over the next decade. 

Overall, the typical urban consumer profile that the retail environment has been used to seeing is changing:

  • General population ageing is resulting in new and evolving markets in the 65 and over consumer category
  • Values and priorities are shifting, impacting both purchasing influences and decisions
  • Rising immigration is simultaneously creating a rise in diversity and multiculturalism in urban consumers
  • Increasing disposable incomes show that consumers are opting for experiences over material possessions. As a result, consumption will revolve around services relating to healthcare, travel and education.

What does this mean for beauty brands?

Well, by 2030, the urban consumer profile is set to change — and these changes have already started or are taking shape. Companies in the cosmetics space, therefore, need to be primed to modify their business plans and marketing strategies to target and appeal to these shifting urban consumer profiles.



Source link Google News

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