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Evolving Consumer LandscapesPublished by: Datamonitor Published: Nov. 22, 2002 - 90 Pages Table of ContentsOverview Introduction Evolving Consumer Landscapes is a complete overview of the latest emerging and evolving consumer groups relevant to today’s consumer packaged goods (CPG) marketer. Each group covered has been specifically designed to offer insight into the characteristics, needs and behavior of modern consumers, necessary because simple socio-demographic segmentations no longer provide sufficient insight. This report answers marketers’ questions about which consumer groups deserve greater attention. Scope Historic and forecast data on the development of 53 consumer groups from 1995 to 2005 Detailed information on the development for seven core European countries - France, Germany, Italy, the Netherlands, Spain, Sweden and the UK Analysis provides clear interpretation of trends affecting consumers over time and how they will develop in the future Actionable recommendations show how this analysis can be used to strategically assess how suited your portfolio is at meeting the latest trends Report Highlights A major polarization is occurring between the high and low income groups. For example, the number of High Net Worth individuals in Europe will increase to 8.9 million people in 2005 from 6.8 million in 2000 The age structure of the west European population is changing dramatically, with one result being that there will be 4.5 million fewer under-24 year olds in 2005 than in 2000 There will also be major shifts in the number of people at different “lifestages”. For example, there will be fewer people in full-time education in the future, but new job market entrant numbers will remain stable Reasons to Purchase Identify the most attractive consumer audiences to target with your products by knowing both the size and development of these groups in the future Refine marketing strategies on a country-by-country basis using our detailed data Assess where the gaps in your product portfolio and consumer targeting are using this comprehensive analysis FUTURE DECODED Consumer packaged goods (CPG) marketers need greater levels of understanding of consumers. To achieve this they need a clearer views of consumers based upon segmentation that reveals insights about consumers needs, lifestyles and purchasing behavior. By analyzing these types of segments marketers can evaluate how to update their product portfolios in order to account for the emerging and evolving consumer groups that are shaping the market. A polarization in wealth is occurring There will be significant erosion in the number of people in the middle-income groups. This will be caused by a growth in the number of people in the High Net Worth Individuals and Mass Affluent consumer groups at the same time as there being an increase in the number in the Low Income group. Overall, the number of people in the top two income groups will increase from 21.4 million in 2000 to 39.3 million in 2005. An ageing population Across western Europe there will be a major increase in the number of consumers aged over 50. In 2005 there will be 7.7 million more people aged over 50 than compared to 2000. At the same time there will also be a reduction in the number of young consumers. The total population of those aged under 25 is set to fall by 4.5 million people over the same period. The Family Status category Massive social change will result in a dramatic decline in the number of people living in nuclear family units. In 2000 37.1% of the European population lived in nuclear family units, but this will fall to 34.1%, or 132.7 million consumers, by 2005. The decline in the nuclear family group will see a rise in the number of singles, single parents, couples without children and empty nesters whose children have left home. Contradictory trends in living arrangements The pattern of people aged over 18 and still living with their families will change significantly. In countries like Italy and Spain where levels have been traditionally high the number of people living with their families will fall. In contrast it will increase in countries like the UK. An increase in people setting up their first homes People buying their first homes will drive new household formation in the future. The number of first time home buyers is set to increase from 3.8 million in 2000 to 4.5 million in 2005. However, this will not necessarily be because of marriage, rates of which are set to remain stable into the future. Greater heterogeneity amongst consumers The growing number of ethnic consumers, those who work from home or who are well-informed media-savvy urban dwellers are all on the increase. The fact that so many “tribal” groups are on the increase highlights that consumers are aligning themselves more closely with specific interests, forcing marketers to target more distinct consumer groups. New and emerging consumer groups are forming The increasing diversity of consumers’ interests is also affecting the food, drinks and personal care goods that they purchase. The number of consumers purchasing ethical, organic, specialty and functional goods are all increasing, as are the number of consumers using services such as meal delivery and laundry in order to enhance their lifestyles. This is creating opportunities for new services and products. ACTION POINTS Three key action points for those seeking to target consumers more effectively: Action Point 1 - identify the consumer groups of relevance to your brands Action Point 2 - develop greater understanding of groups’ needs Action Point 3 - determine NPD opportunities APPENDIX Report methodology This report draws upon the entirety of research carried out for Datamonitor’s New Consumer Insight program for 2002. DATASETS Figs and tables in final report once done. AbstractIntroduction: Evolving Consumer Landscapes is a complete overview of the latest emerging and evolving consumer groups relevant to today's consumer packaged goods (CPG) marketer. Each group covered has been specifically designed to offer insight into the characteristics, needs and behavior of modern consumers, necessary because simple socio-demographic segmentations no longer provide sufficient insight. This report answers marketers' questions about which consumer groups deserve greater attention. Scope of the Report: * Historic and forecast data on the development of 53 consumer groups from 1995 to 2005, per country * Actionable recommendations show how this analysis can be used to strategically assess how suited your portfolio is at meeting the latest trends * Analysis provides clear interpretation of trends affecting consumers over time and how they will develop in the future * Geographic coverage: France, Germany, Italy, the Netherlands, Spain, Sweden and the UK. Report Highlights: A major polarization is occurring between the high and low-income groups. For example, the number of High Net Worth individuals in Europe will increase to 8.9 million people in 2005 from 6.8 million in 2000. The age structure of the west European population is changing dramatically, with one result being that there will be 4.5 million fewer under-24 year olds in 2005 than in 2000 There will also be major shifts in the number of people at different "lifestages". For example, there will be fewer people in full-time education in the future, but new job market entrant numbers will remain stable. Reasons to Buy the Report: * Identify the most attractive consumer audiences to target with your products by knowing both the size and development of these groups in the future * Refine marketing strategies on a country-by-country basis using our detailed data * Assess where the gaps in your product portfolio and consumer targeting are using this comprehensive analysisGet Full Details About This Report >> |
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