Global Consumer Profiles: The Latest Innovative Way of Segmenting Consumers

Many companies identify their market segment using demographics alone, few would agree that consumers are neatly defined by age, gender or income. Starting to analyze data from 2011, 2013, 2015 surveys, Euromonitor International found an innovative way of segmenting consumers and looked beyond standard demographics and created distinct, personality-driven consumer types at both global and country levels.

Drawing on consumer's personal attitudes and traits such as media consumption, buying behaviours, individual aspirations, and data from annual surveys, Euromonitor creates eight segmentation  that empowers companies to think creatively about potential customers and create products and campaign tailored to consumer's interest and attitudes as below:
  1. Conservative Homebody
  2. Secure Traditionalist
  3. Empowered Activist
  4. Inspired Adventurer
  5. Undaunted Striver
  6. Cautious Planner
  7. Balanced Optimist
  8. Impulsive Spender

These consumer types incorporate many of the diverse attitudes and habits that separate one person from another, even distinguishing among those in the same demographic group. 

Global Consumers

In order to identify the global customer, Euromonitor using 5 traits to do a cluster analysis as a methodology such as:

1. Personality traits
2. Shopping preferences
3. Technology usage
4. Green attitudes
5. Eating and health habits

Understanding the shopping habits and preferences of global consumer types allows companies, brands, and retailers to better target their core customers. From initial shopping motivations through to influences, channels used and the final purchase, these steps of the path to purchase provide valuable information on how to successfully target key audiences. This section explores the shopping habits and preferences of global consumers types, answering the following questions:

All consumer types are heavily influenced by friends and family recommendations as well as independent customer reviews. Efficient and convenient customer service alongside clear communication with customers could, therefore, have a positive impact on brands and retailers as much of their sales are influenced by their customers’ perceptions. In a world where social media is ever present and people expect quick, efficient and reliable services this is an area worth investing in across all consumer types.

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