Consumer wealth in real terms is growing across Europe and the US. Changing preferences are creating the ideal conditions for the growth of premium products such as the desire to self-treat, to enjoy better health and to increase 'connoisseurial knowledge'. In the US, the specialty market for food, drink and personal care was worth US$66.9 billion compared with US$32.2 billion in Europe.
Scope
Detailed country-by-country analysis and insights into the differences in trading-up behaviors and attitudes by region
Quantitative data outlining the current and future value of the specialty product market segments across food and drink and personal care
Quantitative and qualitative data on the key socio-economic factors contributing to premiumization
Detailed action points offering practical strategies based on the trends and insights analyzed in the report
Highlights
The mass-marketing paradigm is likely to slide into obsolescence as its approach favors over-consumption leading to social health problems. Consumers want a reduced quantity of products with a greater accent on quality. This obvious conflict points to the rise of premium products.
In wealthy, egalitarian societies consumers tend to be less aspirational as many of their needs are met. In such countries consumers tend to focus on the practical and health benefits of a premium product.
Baby Boomer consumers are key targets for premium product marketers as they have rising income from the rising value of property markets and are most likely to appreciate the finer qualities of premium goods.
Reasons to Purchase
Gain detailed consumer insight into the attitudes driving the consumption of premium-priced products.
Improve your marketing strategy by targeting the most profitable consumers and understand their purchase motivations.
Understand the different drivers of premium product purchase by region and how you can best exploit the differences from one country to another.
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