13
The Critical Consumer 2024
KEY TAKEAWAYS:
• The implications for retailers, consumer products and leisure
companies is clear: affordability is uppermost in the minds of EMEA
consumers. An efficient product range and offering in retail is critical
to remain attractive and capture reduced discretionary spend, while
quality remains imperative for leisure operators to secure custom that
may reduce in frequency in 2024.
• Product curation will take centre stage, as retailers and platforms
compete to win consumers shopping less frequently and spending
less. Precise curation requires prioritisation and optimisation online
and in-store to ensure the right consumer segments are provided with
the right products that meet their price point and category needs.
Retailers must research their consumer base and analyse the data to
provide a well-curated, affordable range.
• Groceries are the key outlier category in retail. As consumers commit
to more conscientious grocery planning, consumer products brands
must ensure that physical and online marketing and customer
communications work harder to promote product awareness and
value to drive consideration, in collaboration with retail partners.
Only those retailers at the very
top of their game will retain or
grow share of wallet."
- MATT CLARK, HEAD OF EMEA RETAIL