A forward-looking study concludes that consumers remain determined and resilient despite all the uncertainty that pervades today’s economy. Those finding are contained in NielsenIQ’s “Mid-Year Consumer Outlook: Guide to 2025” report.
“Over the past six months, there has been a determined shift from cautious to intentional consumption habits,” said Lauren Fernandes, NIQ’s VP, Global Thought Leadership. “Consumers are willing to spend more but remain conscious of potential changes. Consumers are seeking value with every purchase in multiple ways. They are spreading their spending very purposefully—and expect to leverage any excess in strategic ways in 2025 and beyond.”
Some specific trends framing expected spending in 2025 include:
- Consumers’ top concern remains rising food prices (33%), followed by increasing utilities costs (20%) and the threat of an economic downturn (19%). Climate change is fourth (14%), owing to the numerous extreme weather events around the world.
- A majority (67%) of surveyed consumers around the globe say they are likely to change or try a new brand because of lower pricing.
- They intend to continue cutting back on non-essentials like Out-of-Home (OOH) Dining (38%), Out-of-Home Entertainment (37%), and Food Delivery/Takeaways (36%). Expect to see decreased spend on OOH activities, while intentional choices around In-Home Entertainment (48%) and spending on Socializing/Gatherings (46%) are likely to be maintained in 2025.
- Private-label product interest continues to rise, with 50% of consumers buying more private label products than ever. What’s more, 40% of global consumers say they would switch to a private label product they enjoy, even if it costs more.
Click here for more from the study.
