Euromonitor's top global consumer trends in 2023 include spending responsibly but emotionally, behaviors that are less about acquisition and more about reduction, more in-person activities, female equality demands, gaming as mass-market opportunity

Sample article from our Consumer Wellness

January 16, 2023 (press release) –

LONDON, UNITED KINGDOM – Global market research company Euromonitor International has released its landmark “Top 10 Global Consumer Trends 2023” report today. 

Euromonitor’s annual report aims to help organisations stay ahead of disruption, predict consumer shopping motivations and fulfil unmet consumer needs. 

Euromonitor notes that consumers spending responsibly but emotionally, the role of digitisation in purchasing processes, female equality demands, and a disruptive Gen Z, are some of the factors that will define global consumer trends in 2023. 

The 10 key trends that Euromonitor outlines in its Global Consumer Trends 2023 report are as follows: 

  • Authentic Automation: Humans and machines need to be in sync to deliver meaningful solutions. Emotional connections are not to be underestimated and tech benefits should outweigh the need for personal interactions to create a seamless experience. 
  • Budgeteers: Cost of living crisis is undermining purchasing power for consumers. Saving money is top of mind. In 2022, 75% of consumers did not plan to increase overall spending.  
  • Control the Scroll: People are still wed to their devices, but screen time is more selective. Consumers want an efficient and curated digital experience.   
  • Eco Economic: Consumption behaviours are less about acquisition and more about reduction, which positively impacts the planet. 43% of consumers reduced their energy consumption last year.  
  • Game On: Gaming has become an entertainment leader and has transcended the generational divide. This once-niche segment is now a mass-market opportunity. 
  • Here and Now: Flexible solutions are expanding purchasing power and relieving cost pressures to help consumers spend on happiness. In the short-term, ‘joy’ is a purchase motivator. In 2022, buy now pay later reached US$156 bn lending value.  
  • Revived Routines: ‘Post-pandemic' is here. Consumers are eager to rediscover the world despite uncertainties ahead. 39% of consumers said more of their everyday activities will be in person over the next five years.  
  • She Rises: Consumers refuse to remain silent on gender inequality. Fair representation, equity and inclusivity are at the forefront of women’s purchase decisions.  
  • The Thrivers:  Fatigue is setting in as consumers navigate a chaotic world with exhaustion at an all-time high; they are putting personal needs above all else. 53% of consumers had a strict boundary between work or school and personal life in 2022.  
  • Young and Disrupted: Gen Z stand up for their beliefs and put themselves out there. These consumers are immune to traditional advertising. Authenticity and social impact make a difference. 

“The past few years have been anything but ordinary, and 2023 will be no exception,” says Alison Angus, Head of Innovation Practice at Euromonitor International. “Companies should expect quite divergent behaviour as consumers cope with ongoing challenges while getting back in their stride.” 

Download Euromonitor’s Top 10 Global Consumer Trends 2023 report to uncover the motivations that will impact customer loyalty and purchase decisions this year. The report is available in English, Spanish, Portuguese, Mandarin and Japanese.  

NOTES FOR THE EDITOR 

  • Digital natives want solutions to optimise and consolidate their online activities. 57% of consumers deleted apps on their smartphones in 2022 
  • 55% of retail professionals said their company increased prices of certain products or services in response to inflation  
  • There’s an unmet BNPL potential as 56% of retail professionals said their company doesn’t offer BNPL options while the global BNPL values $156bn  
  • 39% of consumers said they are ready for in-person everyday activities more over the next 5 years 
  • 56% of professionals said their company helped support gender equality (SDG5) in 2022 
  • 53% of consumers had a strict boundary away from work or school in 2022, wanted to hit pause and take a step back 
     

FOR FURTHER INFORMATION, PLEASE CONTACT: 

Euromonitor Press Office 

Press@euromonitor.com  

 

ABOUT EUROMONITOR INTERNATIONAL 

Euromonitor International is the world’s leading provider of global business intelligence, market analysis and consumer insights. From local to global and tactical to strategic, our research solutions support decisions on how, where and when to grow your business. With offices around the world, analysts in over 100 countries, the latest data science techniques and market research on every key trend and driver, we help you make sense of global markets. 

 

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

See our dashboard in action - schedule an demo
Chelsey Quick
Chelsey Quick
- VP Client Success -

We offer built-to-order consumer wellness coverage for our clients. Contact us for a free consultation.

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.