Introduction

Consumers around the world are feeling the impact of rising food and energy prices. As we move from the shadow of the pandemic and the cost-of-living crisis begins to take hold, new pressures are impacting consumer decisions about where and when they shop and what they buy.

This report is the second in our annual research series that examines evolving consumer behaviors. In the first report of this series, we explored the impact of the different characteristics of products and services on consumers’ buying decisions. We also explored consumer trends in relation to delivery and fulfillment and direct-to-consumer models, including buying directly from brands.

In this year’s report, we examine the aforementioned trends, and also explore newly emerging, but nonetheless important themes. Critically, we explore how consumers have changed their decision-making and purchasing behavior in light of the cost-of-living crisis.

We also look at how concerned consumers are about stockouts and their ability to obtain essential and non-essential products, and how they behave when faced with unavailability of preferred products. Lastly, this year’s research examines social media influencers’ role in influencing purchase decisions, especially among the younger generations.

To address these questions and themes, we conducted a global survey of more than 11,000 consumers over the age of 18 across 11 countries: Australia, Canada, France, Germany, Italy, Japan, the Netherlands, Spain, Sweden, the UK, and the US. To qualify for inclusion in the survey, consumers must have purchased groceries and/or health and beauty products in the preceding six months.

For more details on the survey sample, please refer to the end of the report.

This report explores five broad themes:

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1. Consumers have changed their purchasing patterns in light of the rise in cost of living and expect companies to help them through this difficult time

2. The cost-of-living crisis has resulted in a decline in store visits and online shopping

3. Many consumers are concerned about stockouts, especially of essential products

4. Delivery and fulfillment are still more important than in-store experiences

5. Social media influencers are on the rise and wield increasing power over consumer decision-making

We close this report by specifying the key actions for brands and retailers to ride through the ongoing shifts in consumer behavior.