Global Retail and Consumer Behavior Trends for 2024

This report presents findings from the third edition of the 'Decoding Consumer Behavior' study conducted by Roland Berger and Potloc in November 2023. It analyzes consumer behavior trends in the context of economic uncertainty and varying consumer expectations for 2024. The study surveyed 1,800 individuals across six countries, revealing that many consumers are prioritizing essential purchases due to rising living costs. The report outlines how consumers are shifting their focus towards value for money, quality, and health-conscious products. It also highlights the ongoing transition from physical retail to e-commerce, driven by digitalization and changing consumer preferences. The report identifies regional variations in consumer sentiment, with optimism noted in regions like China and the UAE, while consumers in Europe express more pessimism. Additionally, it discusses the importance of adaptability for brands and retailers to navigate the competitive landscape, emphasizing the need for tailored approaches and enhanced value propositions to attract consumers in 2024.