Ever wonder about the buyer profile of your global consumer? What type of shopper he or she is, what are the factors they typically weigh before making a purchase, etc.? A recent report from Euromonitor delves into this exact topic, and also explores the global shopper types in some select countries. I knew that would catch your eye. Read on.
So, what are the shopper types?
Conspicuous Consumer, Social Experimenter, Thrifty Bargain-hunter, Thoughtful Planner, and No-frills Saver are the five categories the London-based market research firm has identified. And perhaps to the dismay of marketers, the last category is the one most consumers belong to, as you can see from the figure below.
Key traits of the five global shopper types. Source: A profile of Euromonitor's global shopper types
The No-frills Saver is also concerned about status the least, or rather not concerned about how purchases affect his/her status. The Conspicuous Consumer is at the other end of the spectrum, often making travel decisions based on shopping destinations, and so on.
Nine country types provide interesting data
Here’s where it gets interesting. Euromonitor provides a breakdown of the shopper type data for Brazil, Russia, India, and China (BRIC) as well as for some developed economies such as the UK, the US, Japan, Germany, and France.
Where do the global shopper types live? Source: A profile of Euromonitor's global shopper types
A few points to highlight:
- While the No-frills Saver dominates everywhere, in emerging economy countries such as India and Brazil, the Conspicuous Consumer has made strong in-roads as well. This perhaps reflects the aspirational consumption patterns in these countries.
- Germany has the highest number of Social Experimenters — consumers here are more willing to be influenced by peer recommendations.
- An equal number of consumers (27%) in China and the UK go after the best bargains. So it’s not just Chinese consumers who love freebies after all.
- It seems that Russia has more careful buyers than any other country in this study. Food for thought, marketers.
- Among the developed economies, Germany has the least number of No-frills Savers, and France has the most.
The report might be somewhat depressing to marketers: after all, they’d like to believe that most consumers fall for their catch lines and glitzy campaigns. It would have been interesting to compare the current report with some year-on-year and decade-on-decade data. It may have shown us the trajectories taken by consumers in various countries and by their economies.