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Future consumer index in July 2022 From Ernst & Young

The following is the Future consumer index in July 2022 From Ernst & Young recommended by And this article belongs to the classification: Consumer research, research report.

The report shows that affected by uncertainties such as inflation and the epidemic, respondents from the West are more pessimistic about the economic outlook than those from emerging markets and other regions. It is worth mentioning that despite the declining trend of global consumer confidence, 62% of Chinese consumers believe that life will be better in three years, much higher than that in the United States (46%), Australia (43%), and Britain (35%). By considering the indicators of the five dimensions of cost-effective priority, caring for the earth, health priority, experience first and caring for society, Ernst & Young’s survey of global consumers showed that cost-effective priority (27%) surpassed caring for the earth (24%), and returned to the top of the attention of future consumer groups. The difference is that Chinese consumers put sustainability in the first place in consumption decisions (38%), and pay less attention to cost performance, only (10%).

Integrating sustainable development into consumers’ lifestyle

Climate change and sustainable development have been concerned all over the world. More and more consumers are aware of the impact of consumption behavior on the environment, and also take it into one of the important considerations in consumption decision-making. Data show that 67% of global respondents show price sensitivity when purchasing sustainable products. Zheng Mingju said, “although inflation and the increase in the cost of living have prevented consumers from paying a premium for sustainable products, we are pleased to see that consumers choose to achieve sustainable behavior through more frugal alternative brands and alternative ways, or find more efficient sustainable ways of life. Sustainable development has been integrated into consumers’ values and become the guiding principle of daily life.”

Chinese consumers have shown a stronger sense of sustainable development. Sustainability is not only at the top of consumption decisions (38%), but also the highest in the world. The sustainable development strategy at the national level, the government’s policy initiatives to incorporate into the national economic and social development plan, and active and broad public opinion are important factors.

Embrace the new crossroads of emerging digital experience Enterprises

Although digitalization is ubiquitous in daily consumer life, the report points out that the new generation of consumer groups have been actively exposed to emerging technologies and new experiences. From daily procurement and entertainment services (45%) to financial, customer service and professional services (26%), Chinese consumers have higher choices than the world. Zhang axiao, audit service partner of Ernst & young, said: “China’s digital economy is booming and has been in the forefront of the world for many years. Therefore, Chinese consumer groups can participate more deeply and widely. They have a high degree of recognition for digital behavior and are more interested in exploring new digital experiences. Chinese consumers are not only digital consumer experimenters, their behaviors and preferences may lead the development trend of digital consumption in the future and lead the new trend of consumption. Therefore, online services have great potential.” For a broad market. Enterprises should fully grasp the digital opportunities, actively explore new scenes of digital consumption, and open up new tracks in the digital industry. “

The report believes that enterprises need to re-examine their operations and portfolios to reflect the cost performance of products, incorporate customized and effective sustainable development strategies into their development strategies, and accelerate product iteration by tracking and analyzing consumer values and formulating relevant KPIs that respond quickly.

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