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
Since the 2008 financial crisis, the middle-class in many developed markets has struggled to return to pre-crisis economic levels. Many middle-class consumers are simply unprepared for the economic crisis that the coronavirus will bring. In fact, the overall savings ratio in developed markets is relatively low, at just around 11% of household disposable income, compared to nearly 30% in emerging and developing Asia.
Lower incomes and economic uncertainty will turn middle-class consumers away from the accumulation of material things. They will also be more cautious and selective in their purchasing decisions, and practice thriftier and even more self-sufficient lifestyles.