Purchase Drivers - Consumer Behavior Tracking, Q1 2022

Purchase Drivers - Consumer Behavior Tracking, Q1 2022

Summary

This report is part of the GlobalData Consumer Behavior Tracking report series, which analyzes trends related to consumer sentiment, lifestyles, attitudes, and behaviors. The consumer insight offered throughout the report is drawn from GlobalData's global consumer survey, a quarterly survey designed to capture consumer sentiment as it evolves throughout the year.

After two years since the outbreak of COVID-19, many consumers continue to be concerned about various factors affected by the pandemic. As of 7th March 2022, the world has witnessed 5.9 million COVID-19 deaths, which is approximately 3.2 million more deaths than previously recorded in March 2021. Consequently, consumers continue to show concern about the pandemic.

Scope

• Health & Wellness is most likely to be at the top of consumers' minds in product purchase decision-making. This is mainly driven by amplified health concerns about the COVID-19 pandemic.
• To maximize consumer interest, manufacturers should highlight physical health and mental health benefits on product ranges, as a notable proportion of consumers actively seek both features. Comfort & Uncertainty is a key purchase driver for many consumers globally.
• This trend applies especially to younger consumers, who are more likely to prioritize this feature than older generations.
• It is important for manufacturers to feature local ingredients in their formulation to boost the perception of authenticity, so consumers can learn more about the production process and ensure brand-consumer trust.

• Gain a broader appreciation of the fast-moving consumer goods industry.
• Understand the relevant consumer trends and attitudes that can drive and support innovation and brand strategy.
• Access valuable strategic take-outs to help direct decision-making and inform new product development.