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Euromonitor International updates 10 global consumer types for 2021



By
19 May 2021 (Edited 19 May 2021)

Understanding consumer behavior and preferences across all stages of the buying journey enables businesses to create targeted marketing and sales strategies


Market researchers Euromonitor International today released their 2021 update of the 10 Global Consumer Types.

Researchers found the global distribution of consumers across these 10 types to be as follows:

  • Undaunted Striver (17% of total)
  • Secure Traditionalist (16%)
  • Empowered Activist (15%)
  • Impulsive Spender (14%)
  • Minimalist Seeker (12%)
  • Conservative Homebody (8%)
  • Balanced Optimist (6%()
  • Cautious Planner (5%)
  • Self-care Aficionado (5%)
  • Inspired Adventurer (4%)

Euromonitor's segmentation takes into consideration preferences including:

  • Media consumption
  • Buying behaviors
  • Individual aspirations

Here are Euromonitor International's recommendations for targeting of the 10 Global Consumer Types:

Impulsive Spender (14%)

  • Easy-to-use shopping that facilitates quick purchases
  • Personalized experiences
  • Promote value and bargains
  • Seamless cross-channel shopping

Minimalist Seeker (12%)

  • Label products as sustainable, locally-sourced, or with high-quality ingredients
  • Facilitate comparison shopping
  • Promote waste-reducing products- recyclable, etc.

Secure Traditionalist (16%)

  • Alleviate technology anxiety
  • Prominent low prices and discounts on essentials
  • Fast, easy shopping experience

Empowered Activist (15%)

  • Emphasize green and sustainable features
  • Competitive pricing
  • Loyalty programs
  • Alignment of brand with global issues: sustainability, welfare, charity

Undaunted Striver (17%)

  • Personalized shopping experiences and high brand engagement
  • Promotion of latest trends through social media and celebrity endorsements
  • Seamless cross-channel shopping experience
  • Green/sustainable labeling

Conservative Homebody (8%)

  • Promote products that enhance personal well-being. facilitate time spent with friends/family
  • Clear discounts, value
  • Seamless cross-channel shopping experience
  • Facilitate fast purchases while offering unique/memorable shopping experience

Inspired Adventurer (3%)

  • Promote products that enhance health and wellbeing
  • Discounts, low prices
  • Easy buying
  • Prioritize self-improvement products

Cautious Planner (5%)

  • Clear information on features and prices to facilitate product research
  • Competitive pricing
  • Reviews and testimonials
  • Loyalty programs
  • Quick buy plus memorable shopping experience

Self-care Aficionado (5%)

  • Promote products that facilitate spending time with friends/family
  • Prioritize products that enhance physical and mental wellbeing
  • Market in collaboration with travel and cultural experiences

Balanced Optimist (6%)

  • Promote products that enhance personal wellbeing or facilitate spending time with friends, family
  • Discounts and value for money
  • Seamless cross-channel shopping experience

Impact of the COVID-19 pandemic

Some types underwent significant share changes 2019 to 2021:

Lost share:

  • Inspired Adventurer, down from 8% to 4%
  • Conservative Homebody, down from 13% to 8%
  • Impulsive spender, down from 15% to 14%

Gained share:

  • Cautious Planner, up from 4% to 5%
  • Balanced Optimist, up from 5% to 6%
  • Empowered Activist, up from 9% to 15%
  • Secure traditionalist, up from 12% to 16%
  • Undaunted Striver, up from 10% to 17%

Euromonitor International analysts speculate that pandemic-related financial uncertainty, job losses and economic recession may have increased the numbers of Secure Traditionalists and Balanced Optimists.

Comments:

Consumer Types that look to me like the best prospects for businesses not trying to be the lowest-cost provider:

  • Impulsive Spenders (14%)
  • Empowered Activists (15%) but for specific product categories only: green, sustainable, travel (and probably diversity also, although not mentioned by Euromonitor International)
  • Undaunted Strivers (17%)
  • Self-care Aficionado (5%) but for specific product categories only: travel, cultural

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External Article: https://go.euromonitor.com/rs/805-KOK-719/images/Consumer%20Types%202021%20WP%20-v3.3.pdf


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