It is very vital to understand consumer needs, lifestyle choices to buying habits. These are the key factors to consider while deriving an approach to reach your consumers. This article is based on Euromonitor Internationals Lifestyles Survey results.
There are numerous traits a consumer holds hence a total of 200 consumer traits are grouped under 11 consumer types. These 11 groups are derived based on 5 cluster behavior;
- Personality Traits & Future Outlook
- Shopping Preferences & Habits
- Perception & Usage of Technology
- Attitude towards Global issues
- Health & Well-being Behavior
Source: Euromonitor International
Consumer Segments
Impulsive Spender
These consumers are discount and bargain oriented always looking to keep themselves updated with the latest trends. According to the survey 16% of the global population are Impulsive spenders. These consumers majorly use technology day to day to improve their living standards. They seek curated experiences that are tailored to their tastes.
Minimalist Seeker
These consumers are not much focus towards their image, try to live utmost of their lives moderately unlikely to buy luxury or non-essential products. Always value saving money & time for themselves. According to the survey 13% of the global population fall into this category. They feel it is important to experience other cultures than their own.
Secure Traditionalist
These consumers are highly price conscious, easily swayed by the products which are the cheapest alternatives. According to the survey 12% of the global population are secure traditionalists. They love to find bargains and don’t mind if the products are durable as long as they are inexpensive. Highly self-contended.
Empowered Activists
These consumers demand for more sustainable products, encourage going green. According to the survey 12% of the global population are empowered activists. These consumers carefully consider their actions and behavior to ensure they are in live with their values.
Undoubted Striver
These consumers strive to stay up to date with the latest trends. These consumers are willing to spend to maintain their status quo. According to the survey 11% of the global population are undoubted strivers. This segment is the most loyal and brand conscious. They strive for the best.
Conservative Homebody
These consumers prioritize their family first for everything. Place no importance for image or following latest trends. According to the survey 9% of the global population fall under this segment. These consumers share similar choices as minimalistic seekers but always have their family first to experience.
Digital Enthusiast
These consumers are tech savvy, likely to keep themselves updated with the latest technological trends. According to the survey 9% of the global population are Digital Enthusiasts. These consumers are under constant pressure to get things done.
Inspired Adventurer
These consumers are always invested in trying something new, thrill seekers. Often pursuing their passion, health or career goals. According to the survey 6% of the global population are Adventurers. This segment of consumers is usually well planned personally and financially. Always seeking for more out of life.
Cautious Planner
Consumers who are very calculative. They are an exact opposite of impulsive spenders likely to experiment less with the products they purchase. According to the survey 5% of the global population are cautious planners. This segment does not usually get influenced easily with the latest trends. Trust needs to be generated to gain their loyalty.
Self-Care Enthusiast
These consumers are self-care enthusiasts, willing to spend money in order to maintain their status both online and offline. According to the survey 5% of the global population fall under this category. These consumers invest a lot of time in self-caring like physical exercise taking vitamins, supplements etc.
Balanced Optimist
These consumers are usually seeking balance upon present and future. According to the survey 3% of the global population are balanced optimists. This segment value simplicity and are looking to simplify their lives.
These segments should help businesses to understand consumer priorities and strategize ahead, try venturing into unknown landscapes.
