Grouping consumers solely by demographics while looking at their buying behaviour and purchase decision making can give a skewed view of their daily habits and long-term lifestyle choices. Instead, Euromonitor’s eight global consumer types look beyond standard demographics and profile distinct personality-driven consumer types. Changes in attitudes and habits can be tracked through our Consumer Types Series year-on-year, giving valuable insight on what consumers want and need, even distinguishing among those in the same demographic group.
The Cautious Planner carefully determines their purchases prior to making them and rarely makes impulse purchases or buys non-essential items. They tend to have high loyalty to specific brands and products and are willing to pay more for a product they believe is worth the money. Brands and retailers might struggle to convince the Cautious Planner to try new products or brands. Yet, offers on usual purchases such as multi-packs or bulk discounts are likely to resonate with Cautious Planners.
Understanding the shopping habits and preferences of global consumer types allows companies, brands and retailers to target their core customers better. From initial shopping motivations to influences, channels used and the final purchase, these steps in the path to purchase provide valuable information on how to successfully target key audiences.