Within the first quarter of 2024, customers in Europe as soon as once more reported having blended emotions in regards to the financial system, however their considerations didn’t cease them from spending on discretionary objects. Journey and self-care had been two classes that these customers expressed curiosity in. Even so, cautious customers continued to commerce down. The next charts spotlight findings from our newest ConsumerWise analysis in 5 European international locations: France, Germany, Italy, Spain, and the UK.
At the beginning of 2024, customers in Europe reported financial sentiment and habits just like the sentiments and behaviors they reported in 2023. As we transfer additional into the yr, lingering uncertainties in regards to the international financial system and geopolitical panorama could proceed to have an effect on shopper spending habits. Shopper items and retail companies might want to present worth to their clients to battle these potential headwinds. To contact us for extra data or to learn further insights, try our ConsumerWise web page.
ABOUT THE AUTHOR(S)
Jessica Moulton is a senior associate in McKinsey’s London workplace, the place Gizem Ozcelik is a specialist and Nadya Snezhkova is a marketing consultant; Thomas Rüdiger Smith is a associate within the Copenhagen workplace; and Anja Weissgerber is the chief of technique and operations for McKinsey’s Shopper Packaged Items and Retail Practices globally and is predicated within the Berlin workplace.
This text was edited by Alexandra Mondalek, an editor within the New York workplace.
Shoppers in Europe reported largely blended emotions in regards to the financial system in November, with a lower in optimism from the earlier quarter. These sentiments translated into varied behaviors—corresponding to buying and selling down—that had been additionally evident earlier within the yr. In the meantime, environmental, social, and governance (ESG) components continued to affect shopper habits in Europe. The next 5 charts spotlight findings from our newest ConsumerWise analysis in 5 European international locations: France, Germany, Italy, Spain, and the UK.
European customers closed out 2023 partaking in most of the similar buying behaviors that they had exhibited all year long. As the brand new yr unfolds—with questions nonetheless lingering in regards to the state of the worldwide financial system and geopolitics—shopper items and retail companies should proceed to ship worth to discerning customers. Take a look at our ConsumerWise web page and speak to us for extra data and extra insights.
ABOUT THE AUTHOR(S)
Jessica Moulton is a senior associate in McKinsey’s London workplace, the place Gizem Ozcelik is a specialist and Nadya Snezhkova is a marketing consultant; Thomas Rüdiger Smith is a associate within the Copenhagen workplace; and Anja Weissgerber is the chief of technique and operations for McKinsey’s Shopper Packaged Items and Retail Practices globally and is predicated within the Berlin workplace.
This text was edited by Alexandra Mondalek, an editor within the New York workplace.
Shoppers in Europe reported blended emotions in regards to the financial system in August. These emotions manifested into a spread of behaviors—for instance, worth grew to become a extra essential think about buy selections. A larger emphasis on the omnichannel expertise, in addition to well being and environmental issues, additionally characterised European shopper habits within the third quarter of 2023. The next six charts spotlight findings from our newest ConsumerWise analysis in 5 European international locations: France, Germany, Italy, Spain, and the UK.
This snapshot of the European shopper displays the difficult world round them, one wherein uncertainty lingers. The survey outcomes point out that worth could turn out to be a extra essential buy consideration, however actually not the one one. European customers are open to new experiences and to discovering manufacturers throughout quite a lot of channels, creating invaluable alternatives for shopper items and retail companies throughout the area. Take a look at our ConsumerWise web page, and speak to us for extra data and extra insights.
ABOUT THE AUTHOR(S)
Jessica Moulton is a senior associate in McKinsey’s London workplace, the place Nadya Snezhkova is a marketing consultant; Thomas Rüdiger Smith is a associate within the Copenhagen workplace; and Anja Weissgerber is the chief of technique and operations for McKinsey’s Shopper Packaged Items and Retail Practices globally and is predicated within the Berlin workplace.
The authors want to thank the ConsumerWise group, together with Christina Adams, Kari Alldredge, Emmeline Hale, Andrea Leon, Andrew Pitakos, and Jonathon Rivait, for his or her contributions to this text.
This text was edited by Alexandra Mondalek, an affiliate editor within the New York workplace.
To avoid wasting or to splurge? That’s the query confronting European customers, who’ve probably the most optimistic financial outlook they’ve had in a minimum of a yr, within the face of constant worth will increase. For some, the reply is “each.” The next 5 charts spotlight findings from our newest ConsumerWise analysis survey, performed in Might 2023 in 5 European international locations: France, Germany, Italy, Spain, and the UK.
The snapshot of the European shopper immediately displays the strain between meaning to spend and save below the strain of upper costs, albeit with extra nuance than one may discover in a typical economics textbook. These sentiment information point out that worth could turn out to be a extra essential driver of purchases—however actually not the one one. Take a look at our ConsumerWise web page and speak to us for extra data and extra insights.
ABOUT THE AUTHOR(S)
Jessica Moulton is a senior associate in McKinsey’s London workplace, the place Nadya Snezhkova is a marketing consultant; Thomas Rüdiger Smith is a associate within the Copenhagen workplace; and Anja Weissgerber is the chief of technique and operations for McKinsey’s Shopper Packaged Items and Retail Practices globally and is predicated within the Berlin workplace.
The authors want to thank the ConsumerWise group, together with Christina Adams, Kari Alldredge, Emmeline Hale, Andrea Leon, Andrew Pitakos, and Jonathon Rivait, for his or her contributions to this text.
This text was edited by Alexandra Mondalek, an affiliate editor within the New York workplace.
