Here are 7 consumer types every brand should know

These segments are based on psychographic and behavioral data.

Euromonitor International has released its Global Consumer Types 2024 report, highlighting seven key consumer segments that companies should target to optimise their marketing strategies. These segments, based on psychographic and behavioral data, offer deeper insights into consumer habits, preferences, and purchasing behaviors.

The report outlines these key consumer types as follows:

Brand Champions

These consumers are passionate about branded goods and actively engage with brands, often influencing product innovation. A significant 87% of Brand Champions prefer branded products, and 6 in 10 enjoy spending rather than saving. Financially secure, they plan to increase spending, particularly on groceries and wellness.

Changemakers

Changemakers are purpose-driven consumers, aligning with businesses that prioritise ESG (Environmental, Social, and Governance) principles. About 90% of Changemakers seek to positively impact the environment, whilst 82% are concerned about rising costs. Despite being budget-conscious, they invest in high-quality and health-focused products.

Wellness Enthusiasts

Focused on enhancing their well-being, Wellness Enthusiasts prioritise healthy food ingredients and regularly engage in physical activity. They avoid impulse purchases, with only 26% planning to increase spending in the coming year. These consumers value mindful shopping, seeking products that support their overall health.

Connected Shoppers

Tech-savvy and highly engaged online, Connected Shoppers regularly make purchases across multiple categories. Seventy percent shop online in at least five categories, preferring to buy groceries and electronics online, whilst opting for in-store shopping for beauty products and apparel to see and try items before buying.

Experience Seekers

These consumers prioritise unique, engaging experiences over material possessions. Experience Seekers also prefer experiential shopping, with 80% favoring stores that offer interactive experiences. Trust is a key factor, with many relying on recommendations from friends, family, and independent reviews.

Trendsetters

Optimistic and impulsive, Trendsetters eagerly embrace the latest trends and are willing to pay a premium for high-quality products. Eighty-seven percent of Trendsetters enjoy trying new products and services, whilst 37% are willing to pay extra for gourmet and premium food and beverages.

Budgeteers

Financial prudence drives Budgeteers, who focus on achieving a balance between cost and value. Whilst they are minimal online shoppers, Budgeteers prefer to see or try products in person before making a purchase, aiming for the best value in every deal.