2020 Global Consumer Types: Who Is the Impulsive Spender?
Best ways to target the Impulsive Spender
• Convenient and easy-to-use shopping services to facilitate quick purchases
• Tailored and personalised shopping experiences
• Clear promotion of prices and discounts, specifically highlighting value for money and bargains
• Availability of online and offline shopping platforms, creating a seamless omnichannel shopping experience
Impact of Coronavirus (COVID-19) on the Impulsive Spender
The Impulsive Spender highly values experiences and this is unlikely to change due to the impact of COVID-19. Instead, the Impulsive Spender will likely continue spending money and placing importance on experiences, even if this means that they need to switch to virtual options.
The Impulsive Spender will continue to prioritise convenience and value for money, especially in light of the expected global economic recession. They are highly likely to make online purchases from the brands with easy-to-use online interfaces and those who clearly outline price and free shipping.
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.