Latest in Consumer 202023rd March 2020
Over the past year, CIL surveyed 52,000 consumers to find the overarching trends affecting the consumer market.
CIL’s Latest in Consumer began in 2017 and has shown a clear direction of travel. As consumers become more aware of the sector’s environmental impact, they are seeking brands which reflect their core values and offer sustainable, ethical products. This currently serves as a differentiator for those ahead of the curve, but will soon become a qualifier.
Our findings show that convenience remains king, as consumers enjoy hyper-localised experiences and expect curated, personalised brand offerings.
Experiential leisure continues to drive value with some private equity investment in competitive socialising at the back end of 2019. This will likely continue into 2020 due to strong demand for this type of experience, several high-quality UK operators with headroom for growth and underpenetrated European and US markets providing platforms for expansion or bolt-ons. We expect to see this trend grow outwards, with an increase in demand for guided and escorted tours, as well as more experiential holiday packages.
Against a difficult backdrop, the casual dining sector remains popular, but the most successful businesses will be those that have several brands and occasions under the same umbrella. For example, this could include a cocktail bar, casual dining and an upmarket restaurant, where customers can visit the same group multiple times per month.Download the full PDF version here