EY Future Consumer Index: Consumers Learning to Live with Less as Climate Change and Cost-of-Living Reality Hits Home

According to the 13th edition of the EY Future Consumer Index (FCI), more than half of consumers (54%) plan to buy less in an effort to save money and due to a feeling of not needing new items, while 39% attribute spending less to helping the environment. The report highlights a 16% increase in online shopping compared to the previous year, with 80% of consumers planning to spend less on items for socializing and looking to spend more time at home. The study also reveals that 46% of consumers are extremely concerned about climate change, with many already making changes to their lifestyles and consumption habits in response to the real-time effects of climate change. The study further emphasizes the shift in consumer spending patterns, indicating that 35% of consumers in Europe and 39% in the US plan to spend less during the holidays, while in China, only 11% plan to spend less and 45% plan to increase spending.

EY Report: https://www.ey.com/en_gl/consumer-products-retail/when-talk-turns-into-action-be-set-for-change

Resource: https://esgnews.com/ey-future-consumer-index-consumers-learning-to-live-with-less-as-climate-change-and-cost-of-living-reality-hits-home/


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