Global consumers more picky than ever before, claims report

A recent report on consumer trends shows that global consumers are now more demanding of products, services and brands than ever before and are using digital tools to articulate and fulfill their needs.

The Top 10 Global Consumer Trends for 2017, released by Euromonitor International, a London-based market intelligence firm, analyzes prevalent trends, consumer attitudes and purchasing decisions across consumer types, industries and countries, which will shape the consumer landscape in 2017. The report highlights a bunch of trends for the new year, including wellness as a status symbol, the allure of authenticity and a changing narrative of aging.

According to the report, older consumers are transforming what it means to be older in terms of lifestyle. They are keen consumers of health and beauty products and receptive to tech developments.

It also unveils the trend in consumer training. "Children with more power than just family consumption influencers are exposed to online influence and buying opportunities," writes Daphne Kasriel-Alexander, Euromonitor International Consumer Trends editor.

According to the company, 2016 has been defined by uncertainty, and consumers have reacted to this by tightening their purse strings with growth in global consumer expenditure slowing to 2.4 percent in real terms, the lowest rate of growth since the financial crisis.

Contact the writer at Lijing2009@chinadaily.com.cn