Consumers are realigning their shopping habits and adopting cost-cutting behaviours, driven by concerns around inflation and the cloudy macroeconomic climate. As online shopping continues to have its place in consumer's hearts, the desire for a rich in-store shopping experience has not waned, especially for those seeking product quality assurance.
The Malaysia cut of PwC's February 2023 Global Consumer Insights Pulse Survey shares some important observations on how consumers are responding to the cost of living crisis across various product categories like fashion, luxury products and travel, while choosing to put their money where their values are, on ESG-centric products.
Six priorities are shared to address and pave the way for greater impact among industry leaders in this disruptive landscape. This includes strategic differentiation in terms of product portfolio and brand relevance, adopting an ESG mindset, and using data-led marketing for deeper insight into the consumer.
Deals Partner, Capital Projects & Infrastructure, PwC Malaysia
Tel: +60 (16) 672 3420