Press release
Increasing Trends of Widening Inequality - The consumer spending implications of inequality
"TrendSights Analysis: Widening Inequality" examines what Widening Inequality means as a trend, why it is important, who are the various consumer segments, and how to best capitalize on those segments. Finally the report looks at the future outlook for the trend.
The Widening Inequality trend is becoming increasingly significant because of various historic, technological, and economic factors. Globalization, automation, and increased returns on capital all contribute to the trend. The result is that consumers have increasingly polarized consumption patterns - while the vast majority of consumers are under increasing financial pressure a privileged few face no restrictions on their consumption.
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Scope
- Only 32% of low income consumers globally say their income is increasing compared to 52% of high-income consumers.
- 56% of alcohol consumers say they will either buy cheaper or fewer alcohol products in light of economic or political changes or uncertainty in their country.
- 52% of consumers say they will either buy cheaper or fewer personal care products in light of economic or political changes or uncertainty in their country.
- In the Middle East and Africa, Asia-Pacific, and Latin America over 60% of consumers are very or extremely concerned about their current financial situation.
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Reasons to buy
- Understand the impacts of Widening Inequality and how consumers are responding to this trend.
- Compare the presence of this trend in each industry across the FMCG space, and learn what the key opportunities are.
- See how major brands accommodate consumers at both ends of the income and wealth spectrum.
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