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TrendSights: Premiumization and Indulgence; Buying better and more expensive

  • January 2016
  • 37 pages
  • GlobalData
Report ID: 3599783

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Summary
The entire FMCG industry is influenced by the human search for "better." It is this notion that drives the Premiumization and Indulgence trend across the market, and supports its continued growth.

Key Findings
-  Baby care products are most likely to be purchased from the premium sector, in line with consumers' willingness to buy "the best they can" for their child. This highlights the importance of relative premiumization; that is trading up from budget to the mainstream, or premium to super-premium, depending on one's resources.

-  In food, Premiumization and Indulgence is both the new wave of comfort eating, using high-end indulgent foods and ingredients as small rewards, and a route to self-branding.

-  The habitual nature of tobacco usage highlights the paradox of premium consumption. Tobacco consumers are brand-loyal, with only 17% of smokers saying they often experiment in their product choice and more regular smokers being more likely to say they do not notice how much they spend.

Synopsis
"TrendSights: Premiumization and Indulgence" explores the aspirational behavior that drives the purchase of higher-priced, more luxury items, and its influence on FMCG innovation. Your key questions answered:

-  How relevant is Premiumization and Indulgence to my market?

-  What is indulgence worth?

-  Which categories are consumers most willing to trade up on?

- How can I capture the interest of those most, and least, willing to spend?

Reasons To Buy
- Understand which audiences are most affected by the Premiumization and Indulgence trend. Compare the presence of this trend in each industry across the FMCG space, and learn what the key opportunities are.

- See the actions that major brands are taking to get ahead of the greater interest in Premiumization and Indulgence.

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