Strong consumer spending is the main reason the GDP growth rate had been within a healthy range of 2% to 3% since the Great Recession.
Consumer spending is what households buy to fulfill everyday needs.
As the table below shows, consumer spending has remained close to that healthy range since 2010, following the financial crisis.
Be a part of a family of professionals who thrive in an exciting work environment.This service compares consumer spending across 100+ countries for 36 categories, filling a critical information gap for companies selling into the global marketplace.
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It will generate 51 percent of urban consumption growth in developed countries and 19 percent of global urban consumption growth.
And this extends to consumption patterns, too, in every category, including groceries, entertainment, healthcare and even data.Businesses need to understand how this new world affects all of their touch points with the customer if they are to actively reinvent their own future and not be at the mercy of external events. The things we buy every day create the demand that keeps companies profitable and hiring new workers.
It is designed to serve a wide range of users—from researchers seeking data for analytical studies to businesses seeking a better understanding of the markets into which they are expanding or those they are already serving.
Global Consumer Insights Survey 2020
Global Advisory Consumer Markets Leader, Partner, PwC United Kingdom
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This private consumption includes both goods and services.
The full report, State of the Global Consumer is available for download.
In this year's research we polled city dwellers both City dwellers might decide to get by with fewer discretionary purchases, suggesting a continuation of reduced spending in categories such as clothing and footwear, travel, and arts and cultural events.Companies with the technology and imagination to design great experiences for the home — or close to home — will have a huge advantage, at least in the near term.
The COVID-19 pandemic, for example, has expedited the pace of behavioural changes around the world in how people live their lives — how they work, eat, communicate, play and learn.
Quarterly-updated 20-year forecasts provide detailed consumer spending and income distribution data, accompanied by qualitative analysis of economic, social and demographic factors influencing spend in each country.
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