Global market research company Euromonitor International have categorised consumers into various types, enabling them to track changes in consumer attitudes and habits. Their 2020 report details the eleven consumer types and how the pandemic has impacted their behaviour.
Understanding what kind of consumer you are can make you more aware of your purchasing decisions. If you missed part one, you can read that here.
Read on to find out your type…
The Digital Enthusiast
9% of the global population
Unsurprisingly, these consumers love tech. When purchasing, they tend to be focused on price and short-term need, usually buying on impulse when they see a new product at a low price. However, they’re willing to spend extra on convenient services or products that allow them more free time.
It’s likely that the pandemic will have increased their use of tech.
The Inspired Adventurer
6% of the global population
The adventurers are open to new experiences, though they are mindful of their future, likely to invest in health and personal goals. Their decisions are generally dictated by price, purchasing items based on value for money as opposed to brand loyalty. They prefer faster transactions, so will research purchases online before buying in store.
The pandemic may have spurred these consumers on to purchase preventative health care, as they are conscious about the future.
The Self-Care Aficionado
5% of the global population
These consumers spend a lot of their time working on themselves, be it through regular exercise, supplements, or nutrition. They also set aside time to spend with close friends and family. They have little interest in the shopping experience itself, so are quick to purchase items that save them time and prioritise health. They are known to spend more on experiences than material things.
It’s possible that the pandemic may cause these consumers to focus more on local destinations when travelling, and possibly spend more on health care measures.
The Cautious Planner
5% of the global population
The Cautious Planners opt for established brands over new trends. They do not buy on impulse and thoroughly research products, reviews, and labels before purchasing.
COVID-19 may have made these consumers more cautious in their spending due to uncertainty.
The Balanced Optimist
3% of the global population
These consumers make up the smallest percent of the global population. They enjoy the present moment, valuing time spent with family and friends, but will also plan for the future. They value low competitive prices and a quick and easy shopping experience.
It’s possible the pandemic will have caused these consumers to spend less in the short term, preferring to save up and invest their finances.
No matter what type of consumer you are, the key is to keep a sustainable mindset. When making a purchase you might want to ask yourself questions such as, is this product recyclable? Is it built to last? Do I really need it? We can lessen our impact by reminding ourselves of The Three Rs – Reduce, Reuse, Recycle.