CONSUMER SEGMENTATION

The seven types of consumers all businesses should get to know

By our African Marketing Confederation News Team | 2024

Euromonitor study lists groupings that represent 79% of the global population and are characterised by specific behavioural traits.

Data analytics firm Euromonitor International has released its ‘Global Consumer Types 2024’ report, which identifies seven types of consumers that companies need to explore to effectively target their audience. 

 

It segments consumers using psychographic and behavioural segmentation, a methodology “which goes beyond geographic and demographic segmentation”. Euromonitor says this allows companies to connect with customers more deeply by focusing on key factors influencing purchasing decisions, such as habits, preferences and attitudes. 

 

Seven consumer types represent 79% of the global population and each of them is characterised by specific behavioural traits. These types are: 

Photo by Ron Lach from Pexels

Brand Champions 

They favour branded goods, actively engage with brands and enjoy influencing brand innovation. They represent the next generation of loyal consumers, prioritising emotional over transactional loyalty. Furthermore, Brand Champions feel the most financially secure among all consumer types. They enjoy spending their money rather than saving it and they plan to increase future spending the most, particularly on groceries and wellness. 

 

 

Changemakers 

They are purpose-led consumers actively seeking to support businesses aligned with ESG values and principles. Changemakers try to have a positive impact on the environment with their everyday actions and are budget-conscious, with 82% concerned about rising everyday expenses. They regularly seek private label and low-cost products, and are willing to invest more in items known for high quality and health benefits. 

 

 

Wellness Enthusiasts 

This segment proactively pursues products, services, information and practices that enhance their overall wellbeing. They prioritise healthy ingredients in their food and beverage choices, and participate in physical activity at least weekly. Money wise, they are cautious consumers who avoid impulse purchases and unnecessary shopping.  

 

 

Connected Shoppers 

They often use various forms of technology, mainly digital and electronic devices and social media, to navigate, interact and make informed decisions. Online is undoubtedly the domain of Connected Shoppers, with 70% regularly purchasing over five product categories online. They prefer online purchases for groceries and consumer electronics, while they often buy beauty products and apparel in stores – valuing the ability to see, try and immediately acquire the items before purchasing. 

 

 

Experience Seekers 

This group prioritises spending on engaging, real-world and culturally diverse experiences over material goods. These consumers also highly value experiential shopping, with 80% preferring stores that offer engaging encounters. They are more trusting than other consumers, with around 8 in 10 valuing recommendations from family, friends and independent reviews. 

 

 

Trendsetters 

They eagerly follow and keep up with the latest trends. They enjoy shopping and are optimistic, impulsive consumers who seek the best, even if it means spending extra. Trendsetters highly value and eagerly embrace change and innovation. They enjoy spending, but are not extravagant. Their focus is on strong brands, on-trend products, and premium and gourmet tastes, prioritising high quality and comfort in their daily purchases.  

 

 

Budgeteers 

This segment prioritises financial prudence and cautious spending today to be better off financially and personally tomorrow. Yet, in purchases, their objective is not simply to select the least expensive option but to achieve an optimal balance between cost and value. They’re minimal online shoppers – only four in 10 buy an item or service online weekly, preferring to see or try items in person and shop physically for the best value deal.

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    Dr Kin Kariisa

    Group CEO - Next Media

    Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
    With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
    Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

    Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

    Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

    • Other current and previous roles played by Dr Kin Kariisa:
    • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
    • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
    • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
    • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
    • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.