Already have an account? Sign in.

 Remember Me | Forgot Your Password?

Millennials In Developed Markets Display Consumption Behaviors Different From Those Of Their Emerging-Market Counterparts

December 9, 2015: 12:00 AM EST
Millennials in developed countries prefer to rent products, while millennials in developing countries prefer to have actual ownership of goods, according to Euromonitor. According to the market research firm, the global economic downturn of 2008–2009 and its impact on millennial consumers’ attitude in developed markets have helped the sharing economy take roots and grow. Unlike their Western counterparts, millennials in emerging markets aspire to own status-enhancing products, such as high-end electronics. According to McKinsey and Co., this will see the 15 fastest-growing emerging markets accounting for 90 percent of the growth in consumption of luxury fashion goods in the next 10 years.
Pavel Marceux, "How Digitalised Millennials Differ in Developed and Emerging Markets", Euromonitor International, December 09, 2015, © Euromonitor
Domains
E-TAIL360
Companies
Themes
Customers
Digital Marketing
Geographies
Worldwide
North America
EMEA
Asia-Pacific
United States of America
Europe
Middle East- Africa
Categories
Consumers
Market News
Marketing & Advertising
Trends
Developed by Yuri Ingultsov Software Lab.