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 International’s annual Consumer Types Series looks beyond standard demographics. We’ve profiled distinct personality-driven consumer types at both the global and country level.
Changes in attitudes and habits can be tracked through our Consumer Types Series year-on-year, giving you valuable insight on what consumers want and need, even distinguishing among those in the same demographic group.
Best ways to target the Balanced Optimist
The Balanced Optimist is a pragmatic consumer. They are usually cautious about how they spend their money and look to save rather than spend. They are strongly driven by low prices. Even though they do value brand-name products, they are unlikely to buy them unless they are discounted and competitively priced. They do not have very strong brand loyalty and can shift their preferences according to low prices and how much money they can save.
Balanced Optimists could potentially be a great target market for new-to-market companies or private label companies that are cheaper than name-brand alternatives. Due to their heavy interest in low prices, clear discounts and easy price comparison in-store and online could facilitate quicker purchasing decision making and could potentially make Balanced Optimists’ shopping experiences more convenient as well as enable their impulsive shopping behaviour.