TREND #4: In their financial well being, consumers value the peace of mind that emanates from financial security
All of the financial anxiety in recent years has led consumers to seek the “economics of happiness” which more heavily influences their emotional well being. Financial anxieties increase consumers’ focus on the short-term.
As a result, they prefer financial moderation, exercising more financial prudence and control. The implication is that growing levels of financial moderation will place additional pressure on the growth of upscale premium products and further intensify value consciousness.
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