The Daily Read

9 key trends ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

AN ARTICLE A DAY, PICKED BY OUR EDITORS

Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities

Who are consumers today? It’s more difficult than ever to say. What you thought you knew is probably wrong, or at the very least outdated. Did you think retirees were penny pinching? Nope; despite financial constraints, older consumers are willing to spend on discretionary items like gardening and home improvement. Maybe you thought middle-income consumers were spending less because of the inflation crunch. Also wrong: our research shows that they’re only slightly more inclined to delay big purchases than wealthier consumers. What’s a consumer company leader to do in these strange new times? Get up to date with nine trends in McKinsey’s State of the Consumer 2024 report — as well as four imperatives to win over the consumer of the future.

State of the Consumer 2024: What’s now and what’s next

Amid massive shifts in the consumer landscape, companies can’t afford to rely on yesterday’s consumer insights. Here are nine trends that merit close attention.

9 key trends

Quote of the day

“The new mobility retail opportunities emerging from the energy transition are showing attractive value growth opportunities, specifically in EV charging infrastructure (EVCI) and nonfuel retail (NFR). Fast growth in these areas is creating space for new entrants and may spur traditional forecourt retailers to rethink their approach and business model.”

—See three steps to building the network of the future in “Harnessing analytics and AI to shape the future of mobility retail”

Chart of the day

A chart titled “While brands are relying less on China for sourcing, nearshoring optionshave been flat.” Click to open the full article on McKinsey.com.

See today’s chart

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— Edited by Stephanie d'Arc Taylor, editor, New York

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State of the Consumer 2024: What’s now and what’s next

Enhancing customer experience in an evolving mobility ecosystem

Digital transformation: Health systems’ investment priorities

Unlocking the power of price transparency data

Introducing “The McKinsey Publishing Guide to managing yourself and others”﻿

Introducing “The McKinsey Publishing Guide to managing yourself and others”