Last year was defined by uncertainty and consumers have reacted to this by tightening their purse strings – with growth in global consumer expenditure slowing to 2.4% in real terms – the lowest rate of growth since the financial crisis.
“Consumers are now more demanding of products, services and brands than ever before and are using digital tools to articulate and fulfil their needs. They want authenticity in what they buy and expect elements of personalisation in mass produced as well as upscale items,” states author, Euromonitor International’s consumer trends editor, Daphne Kasriel-Alexander.
Highlighted trends
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