The Gloves are Off: NielsenIQ Spills the Beans on Global Consumers’ Spending Habits
Get ready to RUMBLE! The stage is set for a retail showdown as NielsenIQ unleashes its Mid-Year Consumer Outlook: Guide to 2025 report, forecasting a whopping $3.2 trillion in increased consumer spending worldwide. That’s nearly 6% growth, baby!
So, what’s driving this shopper fervor? Amidst global uncertainty, consumers have grown tired of being tight-fisted and are making intentional purchasing decisions, trading in caution for convenience, value, and ( dare we say it? ) downright indulgence!
AI-Driven Insights = The New Black Companies better be ready to hop on the AI train or risk being left in the dust. With consumers seeking seamless shopping experiences and demanding more personalized recommendations, 40% of us will gladly accept AI-powered suggestions (hello, voice assistants!) and 40% will leverage AI to simplify and speed up daily transactions.
GLP-1 Drugs: The Rise of the Weight Loss Titan Get ready to drool over the growing $15 billion weight loss supplement market! With 31% of global consumers clamoring for a trim figure, GLP-1 medications are poised to change the game, impacting lifestyle choices, social behaviors, and – you guessed it – spending habits.
The Omnichannel Revolution: Social Commerce to the Rescue Gamification? More like GamificAUGH! With 36% of consumers eager to shell out more cash for an in-app experience, the social commerce wave continues to sweep the world.
Hot Commodity Cost Chaos Cocoa, Coffee, and Milk, beware! Rising prices may spark a snack attack drop-out response, with 60% of consumers cutting back on indulgent treats if prices continue to climb. Who knew a love-hate relationship with coffee and snacks could be a trend?
Top Trends Fueling 2025 Spending What’s top on the consumer agenda?
- Food inflation? No joke – 33% of the global population is prioritizing lower prices, 14% are concerned about climate change, and a surprising 67% say they’ll switch brands for savings!
- Cutting back OOH Dining, OOH Entertainment, and Food Delivery/Takeaways will be the first to fall; however, In-Home Entertainment and Socializing will stay on the must-haves list.
- Private label revolution 50% of consumers are buying more private label products, while 40% would upgrade from regular to premium label offerings. Talk about an uphill battle for traditional brands!
- North American housing concerns, Middle Eastern and European anxiety around global conflict, and African concerns about… drumroll… global conflict
- Premium product allure; get ready for a gold-rush of upselling opportunities!
So, will companies rise to the occasion? Stay tuned for our comprehensive guide to 2025 spending habits and tune into our global webinar to be held on September 24, 2024!