TrendSights Analysis 2018: Premiumization & Indulgence – Providing “better,” more luxurious offerings to justify a superior product experience

2018-06-28
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Published : Jun-2018
No. of Pages : 37

TrendSights Analysis 2018: Premiumization & Indulgence – Providing “better,” more luxurious offerings to justify a superior product experience

Summary

Premiumization & Indulgence is one of the 63 trends that GlobalData covers as part of our TrendSights series of Consumer Insight studies. The analysis covers what the trend is, why it is important, who is most influenced by it and how brands and manufacturers can capitalize on it. The research concludes by identifying where the trend is heading next and how long it will last.

Premiumization & Indulgence is defined by the impulsive and aspirational behavior of actively seeking higher-priced, often more sophisticated products. It encompasses the individual’s desire for “better” offerings, underpinned by a set of perceived quality attributes and status undertones. The very nature of indulgence brings a heightened sense of enjoyment and excitement to the consumer.

Scope

– Consumers want brand experiences that they can interact with and align to their own personal lifestyle choices.
– Quality is a core principle driving the trend; it is imperative that brands highlight superior quality and added value to justify a premium positioning.

Reasons to buy

– GlobalData’s TrendSights framework interprets how the 63 trends guiding the consumer and innovation landscape are influencing your markets, and what this means for future opportunities.
– Discover how the Premiumization & Indulgence trend specifically is affecting various sectors.

Filed in: Beauty and Personal Care, Consumer Goods
Publisher : GlobalData
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