Also through effective engagement
Consumers in all markets studied in the report are becoming more value-conscious as they look for ways to reduce spending. While some consumers invest more in products with a longer lifespan (between 26-31% in the countries studied), others are more careful about how much they can afford. Between 25 – 30% of consumers are reducing their spending by purchasing lower quality products, while 22 – 27% are buying more used.Products than in past years. Consumers with high incomes are more willing to use discounts and coupons (47%) than those with low incomes – who focus on second-hand products. Cross-border trade – a good source to get good Job Function Email List value for money The accessibility of cross-border commerce allows consumers to access brands and stores that are not present in their home markets – which means a greater variety of options.
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Retailers have access to a larger customer base but must also be prepared to meet the individual needs of new customers. About half of consumers shop outside their country of residence at least a few times a year. 71% of Millennials make cross-border purchases regularly, while 60% of Gen Z shop a few times a year. Cross-border shopping is influenced to a greater extent by price than by the lack of the respective products in the country of residence.
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