Sensory and Indulgence - Consumer TrendSights Analysis, 2023

Abstract

Sensory & Indulgence is one of the eight mega-trends that GlobalData covers as part of our TrendSights series of consumer insight studies. It explores consumers' ever-expanding expectations of quality, variety, and immersive consumption experiences.

There are ongoing and undeniable shifts in how consumers perceive the quality of a product. Consumers are attaching greater value to experiences, especially as globalization and digitalization opens up society to an even broader range of sensations and influences, in turn making them more accessible and desirable. As such, experiences have in many ways become the new status currencies.

Scope

• Value-conscious consumers are still highly likely to seek superior quality over low prices.
• The lines between beauty and home care are blurring as consumers seek new ways to incorporate wellbeing into their lives.
• Younger consumers are most likely to prioritize out-of-home indulgences despite the increased cost-of-living.

Reasons to Buy

• Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.
• Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
• Access valuable strategic take-outs to help direct future decision-making and inform new product development.