This is an old revision of the document!
Consumer Expectations
Consumer expectations are expanding beyond convenience to personalization and luxury as their level of affluence grows.
Summary
The Consumer expectations framing suggests a developmental pattern from convenience to personalization and luxury. In the more affluent nations, convenience is firmly entrenched as an expectation, and the focus is moving to personalization and luxury. Less affluent nations are often still struggling to achieve convenience.
In Futures Research
Digital Ubiquity
Future of Consumption in Fast-Growth Consumer Markets: ASEAN by the World Economic Forum. Millennials and Gen Z will account for 75% of ASEAN consumers, spending seven to eight hours on the internet each day across devices, with four to five hours on social media. The unprecedented abundance of information and choice will boost repertoire behavior – 65% would switch brands if their favorites were not available – enabling growth of insurgent brands, which are able to innovate more rapidly.
Additional Viewpoints
Further Reading
Categories: