Download as pdf or txt
Download as pdf or txt
You are on page 1of 18

Four Consumer Types to Optimize Marketing Strategy

Going beyond demographics to understand your target audience

USING CONSUMER TYPES TO GO BEYOND DEMOGRAPHICS

EUROMONITOR

LIST OF CONTENTS AND TABLES


Introduction ........................................................................................................................................ 2 Using Consumer Types to Go Beyond Demographics ...................................................................... 2 Choosing Between a Bottom-Up or Top-Down Approach ............................................................ 2 Euromonitor Internationals Consumer Types Combine the Best of Both .................................. 3 Using Consumer Types to Grow Business ..................................................................................... 3 Overview of the Four Consumer Types .......................................................................................... 4 Meet the Undaunted Striver............................................................................................................... 4 Seeking Status, Attention, and Opportunities ............................................................................... 4 Preference for Brand Names and Current Trends ........................................................................ 4 Chart Chart Status and Consumerism Traits of the Undaunted Striver Individual Attitudes of the Undaunted Striver 5 5 Ready to Change the World ............................................................................................................ 5 Buying Behaviours of the Undaunted Striver .................................................................................... 6 What are Undaunted Strivers Doing with Their Dollars? ............................................................. 6 Healthy Living Habits Are Essential to Maintain Personal Image ............................................... 6 Chart Chart Chart Chart Chart Chart Important Health Factors to Undaunted Strivers 7 Exercise Habits of Undaunted Strivers 8 Undaunted Strivers Perceptions of Healthy Food Product Indicators 9 Online Shopping Activities of Undaunted Strivers 10 Social Media Activities of Undaunted Strivers 10 Attitudes toward Social Media among Undaunted Strivers

Eager Users (and Frequent Buyers) of New Technology .............................................................. 9

11

Reaching the Undaunted Striver...................................................................................................... 12 A Highly-Accessible Consumer .................................................................................................... 12 Chart Chart Influential Marketing Sources for Undaunted Strivers Innovation Adoption Lifecycle 13 12 Striving to Be Early Adopters ....................................................................................................... 12 Seeking to Set Trends, but Highly Influenced by Outside Factors ............................................. 13 Demographics 14 Chart Geographic, Age, and Employment Distribution of Undaunted Strivers 14

Using Consumer Types to Succeed .................................................................................................. 15 About the Authors ............................................................................................................................ 16 About Euromonitor and Passport Survey.........................................................................................17

Euromonitor International

USING CONSUMER TYPES TO GO BEYOND DEMOGRAPHICS

EUROMONITOR

INTRODUCTION
Marketing teams, brands, and retailers are continually searching for new and innovative ways to effectively find and appeal to their target market. This often means profiling consumers based on specific demographics, such as young women or retirees, and using characteristics common to the group to determine which products and marketing techniques may be a good fit. Rather than taking a top-down approach and grouping consumers based on their demographics, this white paper introduces a bottom-up method of targeting consumers through in-depth profiles of four distinct consumer types. These types were created by analysing a number of personality traits, characteristics, and preferences from Euromonitor Internationals Annual Survey of 16,000 global online consumers. The aim of this white paper is to demonstrate the use of consumer types to profile shoppers and gain insights into their preferences and behaviours, ultimately helping companies, brands, and retailers better reach their target market. This white paper has five main parts: 1. Introduction to consumer profiling 2. Overview of Euromonitor Internationals four consumer types 3. Personality traits, preferences, and attitudes of one consumer type, the Undaunted Striver 4. Buying behaviours and motivations of the Undaunted Striver 5. Implications and strategies for growing business with the Undaunted Striver

USING CONSUMER TYPES TO GO BEYOND DEMOGRAPHICS Choosing between a bottom-up or top-down approach
Many companies target consumers based on key demographics, such as age or gender, operating under the assumption that those within the same demographic group have similar preferences and buying behaviours. While this may often be the case, there is almost always a large degree of variation within these groups. For example, not all men under the age of 30 may be looking for the same thing when shopping for a new phone. Some may want the latest, trendiest smartphone, while others, regardless of income, are looking for the cheapest available option that can simply make and receive calls. In this case, a marketing strategy that assumes all men under 30 are trend-seekers would fall flat with those hoping to save money. Of course, most marketers already understand the risks of targeting consumers based solely on broad demographic groups and use other strategies to pinpoint and attract their key market. An alternative, bottom-up approach allows natural groupings of consumers to form around common traits and preferences. This ensures that consumers in each segment have similar buying behaviours and are looking for the same product features, giving retailers and brands essential information to tailor their marketing accordingly. However, this approach can often make it more difficult to actually find the targeted consumers, particularly if easily-identifiable demographic traits, such as age or gender, are not tied to these segments.

Euromonitor International

USING CONSUMER TYPES TO GO BEYOND DEMOGRAPHICS

EUROMONITOR

Euromonitor Internationals consumer types combine the best of both


By using extensive consumer data from Euromonitor Internationals Annual Survey, we were able to create four distinct consumer types to help companies reimagine approaches to existing and potential customers. Consumers within each type have similar preferences, buying behaviours, and share specific demographic traits that help companies and retailers find and target them, combining the best of both approaches highlighted above. Rather than being sorted into predetermined groups, the four types are based on actual personality traits and preferences of almost 16,000 online consumers who took the Annual Survey 2011 (see diagram below). The 78 survey variables used to create these four types cover all areas of consumer life, including exercise habits, visits to the doctor, online shopping tendencies, marketing influences, use of social media, and thoughts on prominent celebrities as role models.

Using consumer types to grow business


The real power of our consumer types lies in the comprehensive information and background included in each types profile. Not only can companies use this information to figure out which consumer type (or types) might be the best fit for their product or service, they can learn about that consumers attitudes, motivations, and preferences on an incredible range of topicsfrom environmental concerns (or lack thereof) to eating habits to comfort with sharing information online to marital status. This information allows marketers and companies to put buying behaviours in the context of a consumers broader lifestyle and better tailor their marketing approach. In particular, consumer type profiles allow companies to: Identify their key market and areas of potential growth Target marketing and advertising to specific consumer groups Understand consumer personality traits and preferences Better anticipate and meet the needs of current and future customers

Euromonitor International

USING CONSUMER TYPES TO GO BEYOND DEMOGRAPHICS

EUROMONITOR

Overview of the four consumer types


The four Euromonitor consumer types, the Undaunted Striver, the Savvy Maximiser, the Content Streamer, and the Secure Traditionalist, span a wide range of personalities, preferences, and buying behaviours. The illustration below shows the key traits of all four consumer types, along with a quote that summarizes their approach toward life.

MEET THE UNDAUNTED STRIVER


Through an in-depth exploration of the attitudes, preferences, and buying behaviours of one of the four consumer types, the Undaunted Striver, the following sections demonstrate the positive impact these types can have on the ability of companies and retailers to better target and sway consumers. Included in these sections are insights into the mind-set of Undaunted Strivers and concrete business implications for better reaching them in the future.

Seeking status, attention, and opportunities


Among our four consumer types, the Undaunted Striver stands out as being the most trendoriented and product-focused. These consumers want the latest, most up-to-date products, and are often willing to pay more for them. In addition to their focus on current trends, Undaunted Strivers like to be the centre of attention at parties and lead incredibly active social lives, building relationships at home, work, and in their broader community. As their name implies, these consumers are also optimistic with ambitious dreams for themselves, their countries, and beyond; they truly believe they can make a difference in the world.

Preference for brand names and current trends


Undaunted Strivers believe that outward appearance, both their own and that of others, is extremely important. They prefer to be around people who look healthy and well, and believe that the type of car someone drives says a lot about who they are. In line with these attitudes, Undaunted Strivers work hard to ensure that their own image is one of style and confidence. They buy the latest brand-name products in an effort to signal to others that they are

Euromonitor International

USING CONSUMER TYPES TO GO BEYOND DEMOGRAPHICS

EUROMONITOR

sophisticated, forward-thinking, and in the know. Not only are Undaunted Strivers willing to pay more to keep up with the current trends, they believe their financial ability to do so is another signal to others of their success in life. These individuals are also frequent visitors to the gym, doing their best to maintain healthy living habits and ensure their bodies are in top shape. Beyond conspicuously purchasing brand-name products, Undaunted Strivers also seek to stay at the forefront of new behaviours or activities before they become popular with the average consumer. Over the past decade this has meant embracing rapid advancements in technology and communications, particularly the explosion of social media. Undaunted Strivers enjoy posting content and connecting with others on the hottest social media sites, giving them a new platform for garnering attention and spotting trends. Chart Status and Consumerism Traits of the Undaunted Striver

Source:

Euromonitor International Consumer Survey - Annual Survey 2011

Ready to change the world


Although they spend considerable time and effort on their personal image, Undaunted Strivers have ambitions reaching far beyond the confines of a shopping mall. Indeed, they are truly ready to change the world. Undaunted Strivers strongly believe they are free to shape their identities in whatever way they choose, although they also have deference and respect for the wishes of their parents. These individuals are globally-minded and will use their sense of empowerment to tackle climate change, an issue which they strongly feel is the responsibility of individuals everywhere. The confidence and focus of Undaunted Strivers means that, in the coming years, they will likely be the ones leading the charge to increase recycling efforts, fight for global equality, and encourage the purchase of ethically-produced, fair trade items. Chart Individual Attitudes of the Undaunted Striver

Euromonitor International

USING CONSUMER TYPES TO GO BEYOND DEMOGRAPHICS

EUROMONITOR

Source:

Euromonitor International Consumer Survey - Annual Survey 2011

BUYING BEHAVIOURS OF THE UNDAUNTED STRIVER What are Undaunted Strivers doing with their dollars?
Before creating a strategy to attract and market to Undaunted Strivers, it is critical to have an understanding of how these consumers spend their money and what motivates them to do so. This information will help companies, retailers, and brands identify opportunities to expand existing sales and even grow business in a new market or category. This section profiles the buying behaviours of Undaunted Strivers in two areas of consumer life: healthy living and technology. Exploring consumer behaviours in these areas informs not only c0mpanies in directly-related industries, such as consumer health and consumer electronics, but also provides insights into this groups spending and preferences that reach far beyond healthy living and technology.

Healthy living habits are essential to maintain personal image


Undaunted Strivers place a high priority on maintaining their health and external appearance. They want to look and feel their absolute best at all times and have adopted many healthy living habits to ensure that they are able to do so. In general, there are very few healthy living practices that Undaunted Strivers do not feel are important; from regular exercise to drinking plenty of water to limiting their daily stress levels, these consumers integrate healthy habits into all aspects of life.

Euromonitor International

USING CONSUMER TYPES TO GO BEYOND DEMOGRAPHICS

EUROMONITOR

Chart

Important Health Factors to Undaunted Strivers Eating fruit and vegetables Regular exercise Drinking plenty of water Access to medical care Limited fat consumption Not smoking Limited daily stress levels Limited salt consumption Limited alcohol consumption

Taking dietary/nutritional supplements Limited processed food consumption 0% 20% 40% Important 60% 80% 100%

Very important
Source: Note:

Euromonitor International Consumer Survey - Annual Survey 2011 Showing percent of Undaunted Strivers who agree that the indicated factor is important or very important to their health.

Passion for exercise Undaunted Strivers tend to be very active individuals; almost all exercise at least weekly, and often daily. While activities such as yoga, walking, and dancing are their preferred forms of exercise, these consumers can also be found at gyms, running in races, and on local sports teams. Their willingness to spend on potentially expensive gym memberships or fitness classes indicates that Undaunted Strivers would also be willing to spend on other fitness or healthrelated services, such as spa treatments, nutritional counselling, or personal training sessions. In particular, these consumers are prime candidates for celebrity-endorsed workout programs, perhaps sold on DVD or streamed online. Undaunted Strivers have high aspirations to attain the perfect body and connecting a specific fitness product or service with a celebrity they admire (or whose body they admire) would be a powerful marketing tool.

Euromonitor International

USING CONSUMER TYPES TO GO BEYOND DEMOGRAPHICS

EUROMONITOR

Chart 80% 70% 60% 50% 40% 30% 20% 10% 0%

Exercise Habits of Undaunted Strivers

Other physical activities


Source: Note:

Individual sports

Exercise at the gym

Team sports

Euromonitor International Consumer Survey - Annual Survey 2011 Showing percent of Undaunted Strivers who do the indicated activity at least once a week or more frequently. Other physical activities include yoga, walking, dancing, etc. Individual sports include running, cycling, etc.

Increasing diet and weight loss product sales to Undaunted Strivers In addition to regular exercise, Undaunted Strivers turn to healthy eating in order to maintain or improve their personal health and external appearance. However, many in this group are not completely satisfied with their current balance of exercise and eating; almost half are on a diet and actively trying to lose weight. Given their concern with personal image, it is unlikely that this interest in dieting will diminish anytime soon. Indeed, Undaunted Strivers are prime targets for companies hoping to launch new diet or weight loss products. Just as they seek to follow the latest trends in technology, apparel, and green living, Undaunted Strivers hoping to lose weight will first look for dieting plans that are getting the most attention in the media. These consumers are willing to spend money on a diet that offers guaranteed results, particularly if this guarantee comes with a celebrity endorsement. Indicators of healthy food Their interest in healthy living, particularly in eating well, means that Undaunted Strivers are often willing to spend more on foods that they consider to be healthy. It is, therefore, important for food producers and retailers to understand the indicators Undaunted Strivers use to determine whether a food is healthy when seeking to market to this consumer group. At the top of the list is presence of vitamins; Undaunted Strivers almost universally agree that vitamins are an important indicator of healthy food. Beyond vitamins, this group looks for food products with no added fat and those that are supported by a health organization. Perhaps most importantly, at least for producers and retailers, is the fact that more than half of Undaunted Strivers can be persuaded of a products healthy attributes simply by looking at its packaging. This means that, with trustworthy packagingperhaps highlighting one or more of the previously-discussed healthy food indicatorsfood producers and retailers should have great success appealing to the healthconscious nature of Undaunted Strivers.

Euromonitor International

USING CONSUMER TYPES TO GO BEYOND DEMOGRAPHICS

EUROMONITOR

Chart

Undaunted Strivers Perceptions of Healthy Food Product Indicators Contains vitamins Has no added fat Is supported by a health organization Its packaging makes me trust it Has no added sugar

My dietitian / nutritionist / doctor supports it Is used by my friends / family Is organic 0%


Source: Note:

20%

40%

60%

80%

100%

Euromonitor International Consumer Survey - Annual Survey 2011 Showing percent of Undaunted Strivers who agree that the listed factor is an indicator of a healthy food product.

Eager users (and frequent buyers) of new technology


Tech-savvy consumers When they are not out exercising, shopping, or socializing with friends (and even when they are), Undaunted Strivers are often found surfing the internet. Whether reading the news, researching their next purchase, or connecting with others, Undaunted Strivers spend an average of 27 hours online each week, which amounts to roughly four hours each day. Beyond being frequent internet visitors, this group tends to be more tech-savvy in all areas than their counterparts. For instance, they are more likely to own a smartphoneand certainly more likely to make sure it is the very latest model. Undaunted Strivers are also more comfortable sharing their personal information online, whether on a social media site or while entering payment details to make a purchase. Dedicated online shoppers Online shopping is much more popular among Undaunted Strivers than other consumers. Doubtless this is, at least in part, because the activity combines two things that are important to this group: technology and shopping. More than half of Undaunted Strivers purchase downloads, order takeaway food and drink, and buy a physical item online at least monthly. Beyond simply making purchases online, however, Undaunted Strivers also rely heavily on internet sources when deciding what to buy, whether online or in stores.

Euromonitor International

USING CONSUMER TYPES TO GO BEYOND DEMOGRAPHICS

EUROMONITOR

10

Chart 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

Online Shopping Activities of Undaunted Strivers

Read reviews Research big Buy Order Buy a Buy groceries of products or ticket items something takeaway physical item online services and/ or visit a online that is food & drink (other than online price downloadable groceries) comparison online website
Source: Note: Euromonitor International Consumer Survey - Annual Survey 2011 Showing percent of Undaunted Strivers who do the indicated online shopping activity at least monthly, if not more frequently.

Social media provides an ideal outlet (and information source) for outgoing Undaunted Strivers Already incredibly outgoing by nature, social media has given Undaunted Strivers another outlet to connect with others and broaden their network. It should come as no surprise, therefore, that these consumers are among the most active on social networks such as Facebook; more than 80% visit these sites at least weekly. Undaunted Strivers are also regular bloggers and microbloggers, using platforms such as Twitter to share thoughts and opinions with the world. Chart 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Visit a social networking website
Source: Note:

Social Media Activities of Undaunted Strivers

Upload/share photos or videos

Participate in blogging and/ or microblogging

Euromonitor International Consumer Survey - Annual Survey 2011 Showing percent of Undaunted Strivers who participate in indicated social media activity at least weekly, if not more frequently.

Euromonitor International

USING CONSUMER TYPES TO GO BEYOND DEMOGRAPHICS

EUROMONITOR

11

Influence of social media high among Undaunted Strivers Not only are Undaunted Strivers frequent social media users, they also put much faith and trust in the information they find on social media sites. Nearly half of Undaunted Strivers turn to social media as a first source to find out if something is wrong or untrue about a product or brand. Even further, the same number trust social media reviews as much as recommendations from friends or family. A large group of Undaunted Strivers even trust social media more than TV or print. The upshot of this for retailers and companies hoping to attract this consumer group is the need to innovate marketing and customer interactions to include social media. Brands that expand their social media presence and monitor (and actively respond to) criticisms and complaints shared by customers on social media platforms should be able to attract, or at least stay top of mind with, Undaunted Strivers. Chart Attitudes toward Social Media among Undaunted Strivers I can find comments and tips from people like me easily online If something is wrong about a product or company I will find out immediately through social media I trust social media reviews as much as recommendations from friends or family Social media help me decide what to buy

I trust social media more than TV or print Blogs tend to cover topics of specific interest to me 0%
Source: Note:

10%

20%

30%

40%

50%

60%

Euromonitor International Consumer Survey - Annual Survey 2011 Showing percent of Undaunted Strivers who agree with the indicated statement regarding social media.

Striving to keep up with the latest consumer electronics Smartphones, tablets, and computers used to shop online and access social media sites are not the only consumer electronics of interest to Undaunted Strivers. Indeed, these consumers look for the most-advanced technology in all areas of life. The homes of Undaunted Strivers are likely to contain large, flat-screen HD televisions and expensive cappuccino makers. Their cars may have elaborate stereo systems and built-in, touch-screen GPS navigation. Undaunted Strivers might carry a WIFI-enabled DSLR camera, enabling them to take premium-quality photos they can instantly share on social networks. Even with their existing set of products, there are myriad opportunities to entice Undaunted Strivers with an even wider variety of consumer electronics and appliances. Because these consumers are continually looking for ways to make their lives easier, electronic devices that share information between one another and are easily integrated would be an ideal fit. Similarly,

Euromonitor International

USING CONSUMER TYPES TO GO BEYOND DEMOGRAPHICS

EUROMONITOR

12

smart appliances, such as refrigerators or ovens that can communicate with a smartphone and be controlled remotely, would also appeal to this group.

REACHING THE UNDAUNTED STRIVER A highly-accessible consumer


Happily for retailers, brands, and companies hoping to reach Undaunted Strivers, not only are these consumers among the most willing to spend money on a variety of products and services, they are also the most receptive to all different forms of marketing. Indeed, these consumers agree that a broad range of marketing sources, from commercials to social media to billboards, are at least somewhat influential. While TV and print are still in the top five, also near the top of the list of marketing techniques most effective with Undaunted Strivers are internet-based sources, such as company websites and pop-up ads, and social media advertising or mentions. This, once again, highlights the large role that the internet, particularly social media, plays in the lives of these consumers and the opportunity for marketers to capture the increased attention that Undaunted Strivers give to online sources. Chart Influential Marketing Sources for Undaunted Strivers TV commercials Internet Social media advertising or mention Print Independent consumer reviews In-store advertising Outdoor advertising Cell/ mobile phone text/ advertising Radio Direct mail advertising 0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
Source: Note: Euromonitor International Consumer Survey - Annual Survey 2011 Showing percent of Undaunted Strivers who agree that the listed marketing source is somewhat or most influential. Examples of internet marketing sources include company websites and pop-up advertising. An example of social media advertising would be a mention or ad on Facebook. Examples of print marketing sources include magazines and newspapers. One example of outdoor advertising would be billboards.

Striving to be early adopters


One way to think of Undaunted Strivers is in relation to the widely-used Innovation Adoption Lifecycle curve (see below). This curve shows the distribution of consumers as they begin using a new product at various points in time. The curve moves from the cutting-edge innovators who

Euromonitor International

USING CONSUMER TYPES TO GO BEYOND DEMOGRAPHICS

EUROMONITOR

13

are the very first to adopt a new product (e.g., the people who were using Apple iPods in 2002) to the laggards who are the last to catch on to a new trend that has already been widely adopted by the vast majority of consumers (e.g., the people who began using Apple iPods in 2012). As much as they hope to be among the first to adopt a new product, Undaunted Strivers tend to fall in between the early adopters and the early majority on the curve, with the majority of them in the latter category. These consumers look to follow emerging trends they see identified in magazines, on television, and online. Indeed, whether they are conscious of it or not, Undaunted Strivers are heavily influenced by marketing campaigns, celebrities, and even other consumers. Their heavy reliance on these information sources means that Undaunted Strivers are often only exposed to a product once it is on its way to becoming a popular trend and has gained wide exposure in the media. Chart Innovation Adoption Lifecycle

Source:

Adapted from Diffusion of Innovations, Everett M. Rogers, Free Press of Glencoe, 1962

Seeking to set trends, but highly influenced by outside factors


Although they may tend to fall among the early majority, Undaunted Strivers desire to be seen and treated as early adopters, a trait that is closely-related to their need to stand out in a crowd. Of course, as discussed above, these consumers ultimately take their cues from mainstream marketing campaigns and popular culture. Instead of being ahead of or defining trends, Undaunted Strivers closely follow those set by others and are quick to jump on board once a new trend is set. This combination of wanting to be viewed as trend-setters while most-frequently purchasing styles, products, or services that are already on their way to becoming popular trends gives companies, brands, and retailers several prime opportunities to attract Undaunted Strivers. Secure a celebrity endorsement (or many) Undaunted Strivers look to the clothing, accessories, and habits of celebrities they admire to help determine what they should purchase. Brands or products endorsed, or even simply mentioned, by a particular celebrity will certainly attract attention from Undaunted Strivers, who will likely seize the first opportunity they get to purchase the product themselves.

Euromonitor International

USING CONSUMER TYPES TO GO BEYOND DEMOGRAPHICS

EUROMONITOR

14

Effectively advertise to promote the notion of standing out Undaunted Strivers seek to be the first among their friends to have the latest smartphone or try the hottest new fitness class. They want to stand out and be regarded within their social group as a trend-setter or early adopter. An effective advertisement that draws on these desires would be one in which a user of a particular product or service is seen standing out from the crowd or going against a trend that everyone else is following. This approach will also appeal to the Undaunted Strivers fear of missing out. They may even be more likely to purchase a product or service posed to them (by a trusted brand or marketing source) as new or cutting-edge if they are also afraid that they need to act now or others may beat them to it.

Demographics
Beyond their characteristics and priorities, Undaunted Strivers share several demographic traits. At a high level, this group tends to be married, young, working full-time, and living in emerging markets such as India, China, or Brazil. Chart Geographic, Age, and Employment Distribution of Undaunted Strivers

Euromonitor International

USING CONSUMER TYPES TO GO BEYOND DEMOGRAPHICS

EUROMONITOR

15

Source:

Euromonitor International Consumer Survey - Annual Survey 2011

The concentration of Undaunted Strivers in emerging markets, and their widespread absence in developed countries, is likely linked to recent economic development and opportunities in these markets. Economic growth in developed countries has stagnated over the past several years, often accompanied by high levels of youth unemployment. However, recent growth in emerging markets, particularly the three highlighted above, has been strong. An expanding middle class of consumers with new levels of disposable income, chief among them the Undaunted Strivers, has attracted companies and brands that were previously focused solely on shoppers in developed countries. Many of these emerging markets are newly-opened to foreign businesses, whether due to changes in government policy or simply an improvement in infrastructure, and companies moving in have had considerable success selling to consumers there, particularly Undaunted Strivers. The relative youth of this consumer group means opportunities for retailer growth and expansion will remain robust in the coming years. Brands able to build loyalty with Undaunted Strivers now will enjoy their business in both the short- and long-term. Indeed, as these emerging market economies continue to strengthen and income levels rise, even more consumers may become Undaunted Strivers, newly able and eager to spend their earnings on brand-name products and services. Bottom line an attractive group of consumers (and not just physically) Undaunted Strivers, employed, young, and optimistic, now make up the largest segment of online consumers in emerging markets. With an average household income of US$52,489, Undaunted Strivers tend to have a purchasing power that is slightly higher than their counterparts within other consumer types. When combined, these factors make this group one of the most attractive for companies hoping to grow their sales and expand into new, previously untapped, markets.

USING CONSUMER TYPES TO SUCCEED


Consumer types can be a powerful tool to help companies better understand and appeal to their target market. This exploration of Undaunted Strivers clearly illustrates the relationship between attitudes, preferences, motivations, and buying behaviours, highlighting not only how these consumers spend their time and money, but also why they do so. This white paper contained just a glimpse of the content and analysis available on Euromonitor Internationals four consumer types. Full profiles of each typeUndaunted Striver, Savvy Maximiser, Content Streamer, and Secure Traditionalistexplore an even wider range of personality traits and buying behaviours, focusing on themes such as healthy living, technology, eating and drinking, shopping, and environmentally-friendly behaviours. These profiles are available for Euromonitor Internationals Passport: Survey clients. In addition to extensive profiles, these consumer types are compared side-by-side to help Passport: Survey clients easily identify which consumers may be a good fit for their product or service and where there are opportunities to expand business.

Euromonitor International

EUROMONITOR

16

ABOUT THE aUTHORS


Eileen Bevis, Survey Manager
Eileen Bevis joined Euromonitor International in 2011 to develop and expand their survey capabilities. She now manages a team of analysts who design and implement multi-national surveys and interpret the results for the Passport Survey system. Eileen ensures that Passport Survey questionnaires and deliverables meet high ethical and analytical standards, provide actionable insight, and are contextualized at the local, regional, and global level. As part of that process, Eileen and her team collaborates with industry, country, and consumer specialists. In her time at Euromonitor, Eileen has surveyed many aspects of consumer life, including shopping, spending, green attitudes, and eating habits. She has also examined consumer segments such as baby boomers and mothers.

Lisa Holmes, Survey Analyst


Lisa joined Euromonitor as Survey Analyst in 2012. Prior to joining Euromonitor, Lisa was Senior Research Analyst at a high-profile private wealth management research firm. Lisa has worked closely with clients and industry experts to develop surveys and reports that help clients better understand the market and serve their customers. Lisas key responsibilities at Euromonitor include: survey development, fieldwork management, data cleaning, rigorous data analysis, and insightful reporting. While at Euromonitor, Lisa has reported on a wide range of topics, including technology, shopping trends, economic outlook, and consumer types. Lisa specializes in synthesizing the results of Euromonitors global consumer surveys into reports, articles, and datagraphics that highlight key findings and business implications. Connect with Lisa

Connect with Eileen

EUROMONITOR

17

About Euromonitor International


Euromonitor International is a global market research company providing statistics, analysis, reports and breaking news on industries, countries and consumers worldwide. We connect market research to your company goals and annual planning by analyzing market context, competitor insight and future trends impacting businesses worldwide. Companies around the world rely on us to develop and expand business opportunities, answer complex questions and influence strategic decision making.

About Passport: Survey


Euromonitor International designs, executes, and analyses its own consumer surveys. Every quarter, we survey thousands of consumers around the world to uncover trends in consumer behaviour, motivations, and preferences. Paired with our countries and consumers research, our survey analysis provides insights into the trends shaping consumer buying behaviour around the world. Want more information? Request a demo of Passport Survey.

Contact us to request more information.

Share your feedback with us!


LinkedIn - Facebok - Twitter

You might also like