Thanks to globalization and connectivity, consumers around the world have access to a wider array of products than ever. So how much weight does the “made in” moniker carry when it comes to purchase motivation?
Backed by improving global consumer confidence, many regions are seeing improved conditions for businesses and the fast-moving consumer goods industry. Here, we’ll look at trends in a few select countries.
In contrast to the ongoing market challenges facing global fast-moving consumer goods (FMCG) manufacturers and retailers, consumers are in better spirits than they were at the end of 2016. In fact, global consumer confidence has risen three index points since the close of last year.
Global consumer confidence increased modestly in 2016, a time of great political and economic change around the world, rising three points between the first and fourth quarters to 101. Confidence scores finished the year more strongly than they began in every region except Africa/Middle East.
The premium sector is growing globally, and as it turns out, it isn’t ritzy categories like diamonds and champagne that are topping the charts. Rather, global consumers are most often willing to trade up for everyday consumables.