AlixPartners - The Critical Consumer

The Critical Consumer 2024

Retail & Consumer Products Breakdown:

Analysing category-specific data, financial difficulties will lead EMEA consumers to

reduce spend across the board in 2024. Among the six retail and consumer product nonessential

categories surveyed (excluding groceries), all see noticeable drops in purchase

intent, with some sectors set for notable contraction.

• 44% of all consumers plan to spend less on sporting goods and 43% plan to spend

less on the consumer electronics in 2024 vs. 2023, with only 12% and 14% planning an

increase in these categories, respectively.

• In the US, 27% of consumers plan to decrease holiday spend this year on electronics and

22% on sporting goods.

• In China, Singles' Day shoppers do plan to spend more on consumer electronics and

health and fitness gadgets compared to last year - though it is worth mentioning this

one-day holiday emphasises steep product discounts.

• Across the seven surveyed retail categories, 40% of low-income EMEA-based

consumers plan to spend less in 2024 than 2023, compared to 29% of mid-income

and 24% of high-income shoppers.

• In the UK, medium and high earners display an increase in purchase intent in the

groceries and home improvement & DIY categories, while in France this trend is

seen in grocery, beauty and cosmetics, home improvement and DIY, and toys and

books categories.