Future Consumer Index: Five consumer types you need to understand

“I will live for the moment and look for experiences that help me get the most out of life. When it comes to what I buy, I will enjoy trying new things. I will also look for products and services that feel like they are made just for me and what I need. The brands I buy will tell people a lot about who I am.”

“Experience first” consumers don’t have to cut back as much as other groups because they have above average income and education. One in three want to spend more on out-of-home recreational activities or vacations. Almost half of them have booked a vacation in the next six months and 48% intend to spend more money on this than in the past.

They’re also eager to go out and enjoy experiences and 63% want to catch up on everything they missed during the COVID-19 pandemic. The cities they live in offer an abundance of opportunities for this.

But they’re also enjoying in-home experiences more than other tribes. They’re much more likely to have online subscriptions — for example, 41% have subscriptions to gaming services. Half of this tribe are willing to buy nonessential products, services and experiences that make them feel happy.

“Experience first” consumers are embracing digital technologies more than other tribes. Over a third have purchased virtual products such as digital skins or interacted using virtual multiuser platforms such as Roblox. Almost half of them have bought an item directly from social media.

Despite their desire to go out and enjoy experiences with others, this is actually the most worried group. Even as they seem inclined to spend freely, 41% are extremely concerned about their household debt. But they are also the most optimistic, which helps them to forget their worries and enjoy what life has to offer. This tribe cares about the environment, but they are less willing than other consumers to scale back what they do or what they spend for sustainability reasons.

They plan to spend more during the coming festive season, particularly on gifts for children. Two out of five are worried that electronic gifts will be out of stock so are shopping online more and trying to buy them well ahead of time, even pre-ordering them before they are released.

The festive gift they would love to receive is a city break in a new and exciting place.

“I will make choices that protect the health of myself and my family before anything else. I will focus more on what I think are the important things in life and what feels right for the long term. I will choose brands and products that I trust to be safe. I will minimize unnecessary risks and will prefer to shop online rather than in store.”

“Health first” consumers prioritize their physical and mental wellbeing. They think health and wellbeing are the most important issues in society, together with combating climate change. Fifty-four percent of “Health first” consumers intend to prioritize health and wellness as a key factor driving their purchasing behavior in the coming years. 

Despite their health focus, they are not more concerned than other tribes about their own health. This is perhaps surprising, but they likely feel they are being proactive about staying healthy. However, they are worried about inflation, which makes them feel more vulnerable. For example, 61% are very concerned about the rising cost of groceries.

They’re afraid that these cost pressures will be a longer-term issue and are significantly limiting their nonessential spend, particularly on less healthy products, with 44% intending to spend less on alcoholic drinks. Overall, they’re moderately pessimistic about their country’s economic outlook and are very concerned about increasing costs — only topped by the Affordability First tribe.

“Health first” consumers are comfortable with established digital services, such as online ordering or video streaming. But they are less likely to subscribe to online fitness or health services, despite their focus on health. They are also less open than other groups to try new digital assets: 74% have never purchased virtual products such as Non-Fungible Tokens (NFTs) or digital skins. Only Affordability First is more averse.

They will try to avoid the upcoming festive crowds for health reasons. But otherwise, their plans for holiday season shopping are in line with those of other tribes.

Their inflation worries and lingering uncertainty caused by the pandemic make them more hesitant to book vacations over the festive seasons. If they go away, they prefer to use their car and stay in their own country.

The festive gift they would love to receive is an annual subscription to healthy personalized meal kits.

“I will be a strong believer in the idea that we should all work together for the greater good. I will buy from organizations that are honest and transparent about what they do. I will want proof that they are putting the needs of society and the community on par with profits. I will want to do things that benefit society, like sharing data to stop the spread of diseases.”

“Society first” consumers are the least concerned about the rising cost of living, but they’re changing their habits to reduce costs anyway, by choosing cheaper brands or buying only the essentials. They’re cutting back where it doesn’t hurt them and 37% are trying new brands to reduce costs. This cutback on non-essentials gives them the funds to spend more on what they think is important.

Their defining concern is the health of society, but they appreciate that a healthy society needs a healthy planet. So, they are highly interested in ethically produced goods, and 56% are willing to pay more for sustainable products. They are very active when it comes to small initiatives like turning down plastic utensils, but they don’t shy away from bigger lifestyle changes, such as restricting their travel by airplane.

“Society first” consumers want to actively encourage companies to become more sustainable. Seventy percent consider and make purchase decisions based on the ethical behavior of an organization, but two-thirds also think they need more information to help them make more sustainable choices. They are happy to reach out to companies through email, chat bots or social media messaging to get this information.

They feel a responsibility to encourage their friends to adopt more sustainable behaviors, and two out of three will tell their friends about products that are good for the planet.

This spirit of connection and activism is reflected in their digital behavior. They aren’t more likely than other consumers to use digital technologies, but they are more likely to use them to interact with other people, with 55% reporting that they recently socialized with friends and family on video platforms.

The festive season is an important opportunity for them to positively express their social values, in what they buy and how they bring people together.

The festive gift they would love to receive is membership to a local society or charity.