Public Study B2C GLOBAL 2024
Global retail and brands at a crossroads in 2024
Consumers aren’t browsing or buying like they used to. Explore global spending trends and navigate varying consumer expectations in 2024 with insights from the latest edition of Potloc and Roland Berger's Decoding Consumer Behavior Study.
Sampling details
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1800
respondents surveyed
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4
continents targeted
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50%
men
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50%
women
Consumer trends for 2024
1
Buying based on value for money
When asked to name their most important purchasing criterion, 24% of respondents said value for money, making it the number one factor. Price (20%) followed, ahead of quality/durability (17%). These three priorities are unsurprising given the current uncertain economic climate, although a longer-term shift toward sustainability might be at play.
2
Selective brick and mortar visits
Amid the shift towards e-commerce, supermarkets (44%) rank first among the physical stores consumers plan to visit more often in 2024. This could reflect a prioritization of essential purchases, as well as a rising interest in healthy nutrition. Shopping malls (33%) are second on the list of physical shopping destinations, just ahead of discount stores (30%).
3
Luxury items purchased when made to last
With consumers keeping a closer eye on their spending, retailers of luxury goods will need to go the extra mile to attract customers. Quality and durability (45%) is the most important driving factor. Consumers expect their luxury investments to last, especially in an uncertain economic period—and with sustainability growing in importance.
Consumers are more heterogeneous than ever. Global success demands fit-for-purpose strategies from retailers and brands.
Thorsten de Boer
Senior Partner at roland berger
The retail sector will face unique challenges in 2024. Economic uncertainty is steering consumers towards more conscious consumption and support for local economies. Our research with Roland Berger highlights the need for brands to focus on quality, durability, and unique experiences in an increasingly competitive market.
Illan Bitton
Strategy Director at Potloc
Our Roland Berger global Consumer Goods & Retail team collaborates closely with Potloc as a preferred partner on numerous compelling market research projects. We appreciate the profound insights that we can derive from the dynamic [data analysis tools] provided by Potloc.
Roger Claudius
Senior Project Manager at Roland Berger
Our team
Illan Bitton
STRATEGY DIRECTOR, POTLOC
illan.bitton@potloc.com
Antoine Béguerie
GLOBAL ACCOUNT MANAGER, ROLAND BERGER
antoine.beguerie@potloc.com
