2020 Global Consumer Types: Who Is the Cautious Planner?
Best ways to target Cautious Planner
• Easy to understand and clear labelling of price and features to facilitate purchase decision making during the research phase of the path to purchase
• Competitively priced products
• Clearly outlined independent reviews and testimonials
• Rewards or loyalty programs and discounts on regularly purchased brands and products
• Convenient services to facilitate quick purchases alongside a memorable and unique shopping experience
Impact of Coronavirus (COVID-19) on the Cautious Planner
Cautious Planners tend to be extremely future-focused. COVID-19 is likely to make them more cautious when thinking about their future, perhaps spending less money in the short-term and investing more in future savings to ensure a stable future. The Cautious Planner is likely to increase their frugal behaviour, continuing to seek low prices and save money in a time of economic uncertainty. They are also likely to stock-pile essential products and be swayed by discounted bulk offers.
Why segment consumers by type?
Grouping consumers solely by demographics when looking at their buying behaviour and purchase decision-making can give a skewed view of their daily habits and long-term lifestyle choices. Instead, Euromonitor International’s annual Consumer Types analysis looks beyond standard demographics and profiles distinct personality-driven consumer types at both the global and country level.
Changes in attitudes and habits can be tracked through our Consumer Types Series year-on-year, giving valuable insight into what consumers want and need, even distinguishing among those in the same demographic group.
To find out more on our 2020 global Consumer Types, download our free white paper here.