According to Euromonitor International’s new global strategy briefing, “25 Global Consumer Trends for 2008,” the current state of the world’s economy is causing the development of a consumer concept called “My Economy.”
Troubled by a cloud of uncertainty, consumers in 2008 are filled with a sense of anxiety and gloom. To combat this, they are focusing on ways to stay financially stable during times of economic instability.
According to Euromonitor, along with food and clothing, the HBA market may see changes in consumer shopping habits as economic pressure takes its toll. “With food, drinks and personal care products, the chances are that people will trade down particularly in areas that are less important to them,” said Gina Westbrook, research manager at Euromonitor International.
More info: www.euromonitor.com