According to the NIQ Mid-Year Consumer Outlook 2023 survey, consumers continue to be influenced by the pressures of the cost of living. However, they have discovered solace in deliberate spending and well-established savings methods.
As retailers strategize for the year 2024 and beyond, it becomes imperative to track upcoming growth catalysts, assess their repercussions, and craft winning strategies for thriving in this ever-evolving marketplace. Vital to this endeavor is comprehending how consumers will respond to emerging global trends and proactively implementing strategies to alleviate their cost of living concerns. This proactive approach is paramount for sustaining and propelling growth in the future.
Read the full report from NielsenIQ here.