The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.Learn More
Grouping consumers solely by demographics while 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’s eight global consumer types look beyond standard demographics and profile distinct personality-driven consumer types. Changes in attitudes and habits can be tracked through our Consumer Types Series year-on-year, giving valuable insight on what consumers want and need, even distinguishing among those in the same demographic group.
The Secure Traditionalist is set in their ways and often frugal in their shopping habits. They do not enjoy shopping and rarely make impulse purchases. They place a lot of importance on low prices as they value saving money. Due to their low brand loyalty and strong focus on price, this could potentially be a key audience for new brands, products and private label companies as long as they are competitively priced.
Understanding the shopping habits and preferences of global consumer types allows companies, brands and retailers to target their core customers better. From initial shopping motivations to influences, channels used and the final purchase, these steps in the path to purchase provide valuable information on how to successfully target key audiences.
For additional insights on each of our eight consumer types and how to influence their purchase decisions, download Euromonitor International’s “2018 Survey Results: Using the Consumer Types to Understand the Path to Purchase” white paper.