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1、EY Future Consumer IndexWave 12June 20233%30%26%23%15%3%None of theseHigh school/secondary schoolUndergraduate degreeGraduate degreePost-graduate degreeDoctoral degreeEducationWhat is the EY Future Consumer Index?Page 2The EY Future Consumer Index is based on regular surveys conducted exclusively fo

2、r EY andtracks changing consumer sentiment and behaviors over time and identifies emerging consumer segments.It gives us longitudinal indicators and a unique perspective on which changes are temporary reactions to a current disruption and which point to more fundamental shifts.The latest survey took

3、 place from 15 October 2022 to 14 April 2023 and covers 21,005 respondents from 27 countries.Wave12Week14 April#of respondents21,005China1,103USA1,500Canada500UK1,000France1,000Germany1,000Australia1,000New Zealand500Japan1,000India1,000Brazil1,000Vietnam1,000Nigeria1,001Netherlands500Saudi Arabia50

4、0Denmark300Sweden500Finland300Norway300Indonesia1,001Italy500Spain500Mexico1,000South Africa1,000Chile500Argentina500Thailand1,00050%50%FemaleMaleGender12%34%30%23%1%Gen ZMillenialGen XBaby boomerSilent generationGeneration30%51%19%LowincomeMiddleincomeHighincomeIncome BandEY Future Consumer IndexPa

5、ge 3Page 3Five consumer types companies need to understandEY has identified five emerging groups who will shape future consumption in GlobalPage 4Source:EY Future Consumer Index,June 2023Affordability firstHealth firstPlanet firstSociety firstExperience firstFinancially concernedSaving,not spendingL

6、ow-cost sustainableFocused on health and safetyLess concerned to actually get sick(Price)conscious consumptionMore mindful consumptionFavoring local productsExpecting transparencyOwning fewer,better thingsBelieving together is betterConsider the“big picture”in their doingFinancially&socially optimis

7、ticLiving for the momentLooking for personal benefitare very concerned about increasing cost of electricity/gas/waterare very concerned about increasing cost for groceriesare very concerned about climate changeare trying new brands to reduce costswant to catch up on all the things they have missed d

8、uring the pandemicare purchasing only essentialssay“Healthy”will be their top purchasing criteria in three yearsfeel they have more possessions than neededare purchasing only the essentialstend to buy things because it makes them happyexpect life will be worse in three yearsare not concerned about t

9、heir mental wellbeingneed more information to make better sustainable choiceswill pay more attention to the social impact of what they purchase/consumeintend to spend more on experiencesdont expect their countrys economy to recover within a yearwill not pay more for sustainably produced goodsare swi

10、tching to sustainable alternatives while buying productsexpect companies to drive positive social and environmental outcomesintend to spend more on vacations in next fourmonthstake environmental action when it saves them moneywill consider private labels for fresh foodare buying non-grocery items on

11、line to be deliveredfeel a responsibility to encourage more sustainable behaviors in companieshave used VR technology for gaming or digital experiencessay it costs too much to purchase sustainable productsare using smart devices to track daily or monthly exercisewill share personal data for tailored

12、 recommendations on healthier alternatives will spend more time in their local area in futurehave bought an item directly from an ad in social media59%55%35%57%60%36%57%49%26%61%44%55%58%46%67%64%69%75%55%42%54%25%37%36%39%45%70%67%55%75%35%24%16%13%12%Affordability and health re-becoming the top pr

13、iorities for consumers,as it was at the beginning of the pandemic in GlobalPage 5Across the globe,there has been a dramatic shift among consumers toward affordability and health,demonstrating a reprioritization of individual pursuits over collective efforts.Rising inflation and the anticipation of f

14、uture disruption are driving consumers to look inward and retrench in routines and activities that worked during the pandemic.These conditions are driving consumers to reevaluate what is important to them,and indirectly resulting in better consumption habits.Source:EY Future Consumer Index,June 2023

15、Affordability firstHealth firstPlanet firstSociety firstExperience firstFinancially concernedSaving,not spendingLow-cost sustainableFocused on health and safetyLess concerned to actually get sick(Price)conscious consumptionMore mindful consumptionFavoring local productsExpecting transparencyOwning f

16、ewer,better thingsBelieving together is betterConsider the“big picture”in their doingFinancially&socially optimisticLiving for the momentLooking for personal benefit25%26%Oct 21(W8)18%Feb 22(W9)13%Jun 22(W10)Oct 22(W11)35%16%24%12%13%May 23(W12)%of respondents per group128161112151313171414131718172

17、21818161720211813212422524947464444434242393838373434333332303029242024201520Health first claim the first place in five consumer groups in post-COVID period in ChinaPage 6FinlandJapanNew ZealandCanadaAustraliaNorwayUKSwedenFranceNetherlandsDenmarkUSGermanySouth Africa ThailandItalySpainIndonesiaArge

18、ntinaVietnamBrazilMexicoChinaChileNigeriaIndiaKSAAffordabilityfirstHealth FirstPlanetFirstSociety FirstExperience FirstGrey indicates the largest group per countrySource:EY Future Consumer Index,June 2023162119202122221923232123252721232724292826323027262321961013129111261011138111314917121412131815

19、21232011159111110111312131513129168139121213101421121518EY Future Consumer IndexPage 7Changing consumer behaviorPage 7Consumer sentiment has been hit by geopolitical and economic uncertaintyGeopolitical conflicts,inflationary pressures and supply chain disruptions are driving consumers to change the

20、ir spending patterns as they stretch their budgets further.Companies are reacting to these disruptions by taking pricing actions,reshaping portfolios,and pursuing productivity initiatives.Ongoing disruption is causing consumers to make dramatic short-term changes to their lifestyles in GlobalPage 9S

21、ource:EY Future Consumer Index,June 2023Ongoing disruption is driving consumers to focus more on affordability and health.This shift reveals a reprioritization of managing individual needs(money and stress)over collective efforts(planet and society).59%65%Fear of disruptionis leading to changes in p

22、riorities80%say finances are a concern57%35%are trying new brands to reduce costs87%try not to waste foodare worried about the affordability of household necessities56%19%34%May 20Oct 22Apr 2364%81%Jun 20Oct 22 Apr 23are concerned about terrorist attacksare worried that war will spread globally78%60

23、%61%87%85%will be more aware and cautious about their mental health64%63%52%are cutting back on non-essential items 40%52%79%79%Comparison between Chinese consumers and global consumers reaction to ongoing disruptions Page 10Source:EY Future Consumer Index,June 202380%56%52%35%65%87%60%44%29%26%74%8

24、4%0%10%20%30%40%50%60%70%80%90%100%Say finances are a concernWorried about the affordability of household necessitiesCutting back on non-essential itemsTrying new brands to reduce costsWill be more aware and cautious about their mental healthTry not to waste foodChinaGlobalMost consumers expect situ

25、ations will stay the same or improve in six months in ChinaPage 11Source:EY Future Consumer Index,June 202334%34%37%41%42%43%44%46%54%56%48%47%58%54%54%51%51%45%38%34%18%19%5%4%4%5%5%9%8%9%0%10%20%30%40%50%60%70%80%90%100%Climate changeRising living costs/the cost of livingMy jobMy relationshipsMy m

26、ental wellbeingMy access to basic necessitiesMy physical healthMy financesMy countrys economyHealth pandemicsImproveStay the sameWorsenConsumers anticipate more price increases and are cutting back accordingly in GlobalPage 12Rising costs are refocusing consumer attention on their financial situatio

27、n.Many are reducing their spend and carefully considering what they need.Source:EY Future Consumer Index,June 2023May 20Oct 22Apr 2364%81%38%will buy more second-hand items35%are trying new brands to reduce costs 52%are cutting back their spending on non-essential items 40%52%19%34%31%38%are concern

28、ed about their finances80%Comparison between Chinese consumers and global consumers reaction to increasing pricePage 13Source:EY Future Consumer Index,June 202380%52%35%38%60%29%26%36%0%10%20%30%40%50%60%70%80%90%100%Concerned about their financesCutting back their spending on non-essential itemsTry

29、ing new brands to reduce costsWill buy more second-hand itemsChinaGlobalFresh food ranks top in areas that consumers expect to spend more in next three to four months in China Page 14Source:EY Future Consumer Index,June 202331%31%31%31%32%33%34%34%35%35%38%38%39%40%41%41%43%44%44%46%47%48%52%64%42%3

30、4%34%46%38%42%47%47%46%46%44%44%39%36%40%47%41%40%43%40%45%36%30%31%27%35%35%22%30%24%19%20%19%19%18%18%22%24%19%12%16%16%13%14%9%16%19%5%0%10%20%30%40%50%60%70%80%90%100%Other big-ticket itemsTobaccoLuxury items and other indulgencesCanned,dried foodAlcoholic beveragesFrozen foodGifts donations/cha

31、ritable givingSubscription video streaming servicesNon-alcoholic beveragesHome improvement products and servicesPersonal care servicesBeauty and cosmeticsGym memberships or fitness classesTake-out/deliveryConsumer electronicsGrocery delivery servicesSnack foodsSporting and fitness equipmentPersonal

32、care itemsClothing and footwearHousehold products and home hygieneOut-of-home recreational activitiesVacations/holidaysFresh foodSpend moreSpend about the sameSpend lessAs consumers stay resilient,future expectations become more positive in GlobalPage 15Consumers are trying to remain resilient in th

33、e face of continued cost of living pressure,economic worries and social disruption.Consumer sentiment is slightly improving,resulting in a more positive outlook for the majority.High income consumers have most positive outlook on the future.*Until May 21,the question was asked compared to 1 month ag

34、oHow consumers feel(or expect to feel)Today compared to three to four months ago*In three years time18%16%20%19%48%30%20%22%20%22%AprBetter56%58%66%66%67%52%68%54%55%Apr23%Same13%Oct 20Jun 2216%Jul 2016%Feb 2114%15%May 21Oct 2120%29%Feb 2226%28%Oct 22Worse23%Apr-23Expectation 2025Middle class is mor

35、e optimistic about the future in ChinaPage 16Source:EY Future Consumer Index,June 2023Current feelings by income group compared to three to four months ago8%26%52%53%40%21%High incomeLow incomeMiddle class5%24%39%56%56%20%2%16%54%52%44%32%ChinaGlobalChinaGlobalChinaGlobalBetterSameWorseExpected chan

36、ge in experiences of aspects of life in three years in ChinaPage 17Source:EY Future Consumer Index,June 202357%57%58%60%61%61%61%61%61%61%62%63%63%63%64%64%64%65%65%65%66%68%27%26%26%26%24%24%26%25%25%26%25%22%25%25%22%23%24%23%25%23%23%20%12%12%12%11%11%12%10%10%10%10%11%11%9%9%10%10%10%10%8%9%9%9%

37、4%4%4%3%4%3%3%3%4%2%2%5%3%3%3%3%3%2%2%3%2%3%0%10%20%30%40%50%60%70%80%90%100%The way I travel for workThe way I eat outThe way I maintain my physical appearanceThe way I socializeThe things I do to stay entertainedMy schedule/routinesThe products I buyThe way I workThe way I bankThe way I access med

38、ical careThe way I shop for/prepare foodThe way I travel for vacationsThe way I studyThe way I exerciseThe way I plan for the futureThe way I use transportationThe way I shopThe way I take care of my homeThe way I raise my childrenThe way I maintain my mental well-beingThe way I maintain my physical

39、 well-beingThe way I use technologyBetterThe sameWill change,but neither forbetter norworseWorseExpected changes in personal and social situations in three years in ChinaPage 18Source:EY Future Consumer Index,June 202335%41%44%55%61%64%65%65%67%70%70%71%23%23%26%33%29%29%27%28%26%23%23%23%42%37%30%1

40、1%10%7%8%7%7%7%7%5%0%10%20%30%40%50%60%70%80%90%100%Feel lonelier now than I did pre-pandemicWorried about my employment situation beyond 1 yearWorried about the affordability of household necessitiesMy values and the way I look at life have changedExcited about spending money on things that will im

41、prove my lifestyleThe way I live my life will change a lot in the long-termExcited about spending money on things I havent been able to doUse and rely more on technology to manage my daily lifeThinking a lot about the future and whats important to meConfident about the futureEconomy in my country wi

42、ll recover within 1 yearWill be more focused on value for money in the futureAgreeNeutralDisagreeRapid technological change is driving digital adoptionConsumers increasingly use digital technologies in their daily life for convenience,personalizationand experiences.Companies are developing integrate

43、d engagement tools across platforms and using generative AI to deliver on consumer expectations.They must also address theirconcerns around digital trust and cybersecurity.Digital has become seamlessly embedded into daily consumer life in GlobalPage 20The growing adoption of new digital tools presen

44、ts opportunities for companies to expand their channel presence and develop new branded experiences.These efforts will enable companies to capture more data,identify new insights,test products and respond quickly to market changes.Source:EY Future Consumer Index,June 2023socialize with friends and f

45、amily over video platforms53%managed money through their banks website/app 77%subscribe to video streaming services63%have listened to audio streams in the last few months62%Use of online services(purchases,entertainment travel services)in past three months in ChinaPage 21Source:EY Future Consumer I

46、ndex,June 20238%9%9%11%11%11%11%17%18%19%23%26%29%31%35%38%39%39%43%52%53%0%10%20%30%40%50%60%70%80%90%100%Got products delivered by a droneInteracted with a game or other digital experiences using ARAttended immersive,virtual eventsInteracted with a game or other digital experiences using VRPurchas

47、ed virtual productsAccessed car sharingUsed virtual multi-user platformsBooked travel,flights or accommodation onlineAccessed ride sharing services you book via an appResearched/planned travel,flights or accommodation onlinePurchased an item directly from an ad on social mediaBought an item(non-groc

48、ery)to pick up in storeFound food inspiration/recipesPosted content to,or look at,my social media feedsPlayed online gamesBought an item(non-grocery)to be deliveredSocialized with friends and family over video platformsOrdered groceries online for delivery/pick upListened to audio streamsWatched vid

49、eo streamsPaid for transport using a mobile deviceUse of online services(finance,customer service,professional services)in past three months in ChinaPage 22Source:EY Future Consumer Index,June 202310%10%10%11%13%13%14%16%16%17%18%27%28%35%37%44%0%10%20%30%40%50%60%70%80%90%100%Interacted with govern

50、ment services onlineUsed online home d cor/virtual interior design servicesBooked professional services onlineUsed online beauty consultation servicesAsked a question via emailUsed digital currenciesAsked a question via chat bot or online chatAsked a question via social media messagingUsed online fi

51、tness servicesFilled out an online form containing personal detailsTracked health with wearablesPaid for something via buy now,pay later methodManaged money through banks website/appPaid via credit/debit card onlinePaid via non-bank online payment servicePaid via a digital walletDespite high securit

52、y concerns,consumers are willing to share their data with brands for offers and recommendations they find value in GlobalPage 23are very concerned about companies selling their personal information to a third party53%are very concerned about downloading a virus52%are very concerned about ID theft/fr

53、aud55%are very concerned about data security/data breaches or downloading a virus53%Source:EY Future Consumer Index,June 202360%are willing to share data for a completely customized online experience39%used autofill/saving capability when entering passwords on digital platforms(e.g.,websites,apps et

54、c.)66%prefer personalized recommendations for cheaper alternatives in exchange of data67%choose to share data for personalized deals from brands they have a history withConsumers remain very concerned about data theft and security breaches.but are willing to share personal data if it provides value

55、for themConcerns when engaging online in ChinaPage 24Source:EY Future Consumer Index,June 202334%35%37%38%39%39%39%42%42%45%45%46%48%49%49%50%53%54%31%31%31%33%32%30%28%33%32%30%29%27%30%30%28%29%27%27%35%34%32%29%29%31%33%25%27%25%27%27%22%21%23%22%21%19%0%10%20%30%40%50%60%70%80%90%100%Biased reco

56、mmendations for products or brands that may not be in my best interestRestricting the products and services I get exposed toMy employer having full visibility of my activity on company owned devicesThe company I am sharing my data with,sending me unwanted promotionsPeople being able to find out wher

57、e I live or workLosing control of purchase and delivery decisionsPeople being able to contact me based on my online footprintAn app continuously tracking my movementsUnsolicited phone calls/text messages/emailsCompanies spying on me through voice-activated devicesThe company I am sharing my data wit

58、h,being hackedFalling for a phish or fraudPrivate information being made publicUnauthorized monitoring of information/data miningDownloading a virusID theft/fraudCompanies selling my personal information to a third partyData security/data breachesExtremely concernedModerately concernedNot concernedW

59、illingness to share data to receive the following in ChinaPage 25Source:EY Future Consumer Index,June 202326%30%31%33%33%36%36%36%39%39%34%42%42%39%37%37%37%39%35%36%40%28%27%28%30%27%26%25%26%25%0%10%20%30%40%50%60%70%80%90%100%Tailored advertisementsCheaper product recommendationsRecommendations f

60、or new/alternative productTailored promotions and dealsPre-populated shopping carts based on past purchasesEasier online applicationsCompletely customized online experiencePersonalized support and service experiencesEasier/more efficient purchasesHealthier product recommendationsPublicly attributabl

61、e personal dataAnonymous non-attributable dataNo data at allAdvanced technologies help companies create long-term value for stakeholders in GlobalPage 26say technology is being used to perform the duties of hard-to-fill rolessay automation is used to collect/analyze data60%say automation is used to

62、perform routine or repetitive tasks and processes60%42%expect the workweek to shorten to four days47%expect that their role will increasingly require the use of AI or automation to complete tasks faster64%expect automation will increasingly be used to reduce human error and labor costsCurrent use of

63、 technology Expected value to be created by technologysay technology is being used to create more transparency around their companys products and service offerings51%58%41%expect companies to no longer offer full-time employment but more short-term projects(overhead reduction)Source:EY Future Consum

64、er Index,June 2023Support through technology in current job in ChinaPage 27Source:EY Future Consumer Index,June 202345%45%45%45%46%50%52%53%53%56%58%61%47%47%44%43%43%43%39%37%38%33%33%31%8%8%11%11%10%8%9%11%9%11%10%9%0%10%20%30%40%50%60%70%80%90%100%Chatbots handle queries to HRTechnology platform

65、to book short-term jobsVR supports product or service deliveryMixed Reality supports simulations for training purposes and visualizingdesignsVR supports new product or service developmentAI helps generate content for my work(e.g.,write reports)Chatbots help with customer queriesVirtual platforms for

66、 collaborating with colleagues and clientsVirtual assistants help complete simple,easy tasks and answer questionsTechnology enables more transparency around products and servicesAutomation to perform routine or repetitive tasks and processesAutomation to collect or analyze dataYesNoDont knowExpected

67、 changes in the workplace over the next five years in ChinaPage 28Source:EY Future Consumer Index,June 202329%32%33%41%46%55%69%59%54%57%44%41%35%23%12%14%10%15%13%10%8%0%10%20%30%40%50%60%70%80%90%100%My role will be completely replaced by technologyI will retire earlier due to inability to keep up

68、 with technological advancementsMy role will be partially(but not completely)replaced by technologyCompanies will offer more short-term projects instead of full-time employmentI will be replaced by younger,or more digitally proficient workersMy role will require increased use of AI or automation to

69、complete tasks fasterAutomation will be used more to reduce human error and labor costsYesNoDont knowEmployees are leveraging new technologies to add more value to their work in Global Page 29Technology has become essential in the workplace,enabling to streamline tasks,reduce errors,control costs,in

70、crease transparency,and improve their overall impact.say automation will allow them to focus on high value work58%are excited about the technological advancements happening in their workplace59%want to upskill and learn more about advancing technologies and how to use them in their job71%say they ex

71、pect their job to become easier as technology advances in their workplace63%Source:EY Future Consumer Index,June 2023Level of comfort to use technology at work in ChinaPage 3061%62%64%65%65%68%68%68%69%70%71%74%74%74%75%76%0%10%20%30%40%50%60%70%80%90%100%Chatbots handling my queries to HRAI helping

72、 to make recruitmentAI responding to complaints or bad reviews from customersVR as part of the product or service deliveryAI using customer data for direct and tailored marketingTechnology platform to book short-term jobsVR for new product or service developmentChatbots to help with customer queries

73、AI generating content for my work(e.g.,write reports)AI making appointments for myself and othersVirtual platforms for collaborating with colleagues and clientsVirtual assistants helping complete simple,easy tasks and answer questionsTechnology to create more transparency around products and service

74、sAutomation to collect or analyze dataAutomation to perform routine or repetitive tasks and processesAutomation to manage order logisticsPage 31No major differences by generations in using tech at work,as employers expect it from everyoneUsing automationto perform routineor repetitive tasks and proc

75、essesUsing virtualplatforms likeTeams,Zoom,etc.for collaboration46%63%Using AI to generate content for work(i.e.,write reports,speeches)68%57%73%35%42 years and younger43 years and olderNote:42 years and younger include Millennial+Gen Z,43 years and older include baby boomer+Gen X;Source:EY Future C

76、onsumer Index,June 2023Excited about technology advancements in workplaceAutomation will allow to focus on more interestingor challenging work61%63%47%Being comfortable with chatbots handling HR queries55%55%36%Younger generations feel slightly more positive and comfortable to use technology at work

77、Older generations are not far behind younger cohorts in using tech at work,even if they are slightly less enthusiastic about it in GlobalOlder generations are not far behind younger cohorts in using tech at work in ChinaPage 32Source:EY Future Consumer Index,June 202339%39%37%39%36%44%49%43%42%48%51

78、%56%50%51%53%53%54%55%56%61%63%63%64%65%0%10%20%30%40%50%60%70%80%90%100%Chatbots handle queries to HRTechnology platform to book short-term jobsVR supports product or service deliveryVR supports new product or service developmentMixed Reality supports simulations for training purposes and visualizi

79、ngdesignsAI helps generate content for my work(e.g.,write reports)Virtual platforms for collaborating with colleagues and clientsChatbots help with customer queriesVirtual assistants help complete simple,easy tasks and answerquestionsTechnology enables more transparency around products and servicesA

80、utomation to perform routine or repetitive tasks and processesAutomation to collect or analyze data42 years and younger43 years and olderare concerned the products they get exposed to are restrictedexpect their role to be completely replaced by technology3 November 2023Page 33PersonalWorkThose who d

81、o not use AI in their jobs to generate content for their work Those who use AI in their jobs to generate content for their workAI Reality GapThe AI Reality Gap:Consumers who use AI in their roles are most concerned about its potential repercussions in GlobalSource:EY Future Consumer Index,June 2023a

82、re concerned to lose control of purchase and delivery decisionsfeel recommendations they receive are biased toward productsexpect their role will increasingly require use of AI/automation to complete tasks fasterbelieve automation will enable them to focus on more high value workConsumers who use AI

83、 in their roles are more aware of its ability to impact their personal and professional lives more than those who are less exposed to it on a daily basis.This group is using current capabilities while also shaping its future applications in the workplace.31%54%27%48%28%49%72%36%52%75%15%41%Current i

84、nitiatives by the workplace to prepare for the future in China:Improve staff education and skillsPage 34Source:EY Future Consumer Index,June 202350%51%57%59%59%64%64%65%65%66%67%67%40%37%30%31%29%26%25%26%25%25%24%23%11%12%13%10%12%10%11%9%10%9%9%9%0%10%20%30%40%50%60%70%80%90%100%Using AI to recrui

85、t and hire talentAcquiring new businesses with a technology focusUtilizing technology to perform the duties of hard-to-fill rolesAllowing flexible work schedules for employeesUndertaking large technology projects to improve operationsRestructuring the workforce to prepare for uncertaintiesInvesting

86、heavily in technology to create efficienciesFocusing recruitment on staff with digital skillsUsing technology to demonstrate progress towards ESG commitmentsIncreasing focus on creating digital products and servicesOffering more benefits to attract the best staffOffering education or upskilling in t

87、echnologyYesNoDont knowEvolving consumer priorities While demand for health and wellness remains high,consumers are shifting their focus toward immersive experiences.Expectations of personalization are also increasing.Buying for status has lost its appeal and consumers are adopting more mindful cons

88、umption.Brands are rebalancing portfolios toward new products and value propositions to be relevant to the future consumer.Page 36Focus on mental and physical health remains high as consumers are under elevated emotional stress due to continuous disruptions as well as financial and employment worrie

89、s.will be more aware and cautious about their mental healthare very concerned about getting access to quality health care when they need itmanage an existing health condition via their app or smart deviceare willing to share data for personalized recommendations on healthier products65%61%42%62%59%6

90、4%63%May 20Oct 22Apr 23Source:EY Future Consumer Index,June 202341%42%39%Health&wellness remains a key priority across all consumer segments in GlobalMost important purchase criteria in three years time in ChinaPage 374%8%9%10%11%12%12%14%16%17%22%25%26%32%35%46%0%10%20%30%40%50%60%70%80%90%100%Luxu

91、ryCountry of originPersonalizationProduct availabilityValues of the organizationAvailability of deliveryLocally sourcedOrganicEthically sourced or producedBrand of the productSustainably sourced or producedGood for the environmentPriceSustainably packagedQuality of serviceHealthy/good for meAwarenes

92、s and cautiousness in consumption behavior in three years in ChinaPage 38Source:EY Future Consumer Index,June 202336%37%46%49%55%63%65%65%67%69%74%79%32%26%40%30%32%29%26%28%26%24%21%17%32%37%14%21%12%8%10%7%7%7%5%4%0%10%20%30%40%50%60%70%80%90%100%Buy more second-hand productsSpend more time playin

93、g electronic gamesConsolidate my shopping trips into less frequent,but larger purchasesLive more in the moment,not planning long termSpend more on experiencesPay more attention to the social impact of what I purchase and consumeBe more aware and cautious about my spendingReappraise how I spend my ti

94、me on the things I value mostPay more attention to the environmental impact of what I purchase and consumeUse less cashBe more aware and cautious about my mental healthBe more aware and cautious about my physical healthAgreeNeutralDisagreeConcerns about life in the year ahead in ChinaPage 3923%23%24

95、%24%25%25%26%26%27%28%28%28%29%29%29%30%31%31%32%33%35%27%22%22%25%24%26%29%24%28%28%23%30%26%27%26%32%28%33%33%27%34%51%55%54%51%51%48%45%50%45%44%50%42%45%44%44%39%41%36%35%40%31%0%10%20%30%40%50%60%70%80%90%100%Not being able to travelPersonal and/or household debtAbility to pay my rentIncreasing

96、 personal/household income taxFinding a jobIncreasing interest rates on my mortgageIncreasing cost of electricity,gas and waterLosing income as a result of having to isolateAccess to quality mental health services when requiredHaving money for more than living expensesJob securityGovernment not cove

97、ring my healthcare needs enoughBeing separated from friends and familyThe ability to fund my retirementPersonal and/or household incomeIncreasing cost of petrol/fuelNot being able to enjoy life to the fullestIncreasing cost of groceries,household essentialsAccess to quality healthcare when requiredA

98、bility to buy a homeHigh healthcare costsExtremely concernedModerately concernedNot concernedPage 40Despite a growing reliance on technology for health management,it is also bringing additional stress due to extended screentime that generates an ongoing fear of missing out.42%track their daily,weekl

99、y or monthly exerciseSource:EY Future Consumer Index,June 202336%track their heart-rate30%track their caloric intake/dietConsumers are tracking their physical well-being 42%restrict the notifications they receive from their devices for certain periods of time31%removed social media apps from their p

100、hone27%monitor their body battery or energy levels and taking action to improve mental health26%track their stress levels23%follow a meal plan provided by an appTechnology is empowering individuals to take control of their health and wellbeing in GlobalUse of apps or smart devices to manage health a

101、nd wellbeing in the past three months in ChinaPage 41Source:EY Future Consumer Index,June 202317%18%18%20%21%21%22%23%24%25%27%29%33%34%31%40%35%32%35%35%36%33%36%37%20%20%24%26%23%23%23%23%22%23%22%20%29%28%27%14%21%24%20%19%18%20%15%15%0%10%20%30%40%50%60%70%80%90%100%Limited the notifications fro

102、m device(s)for certain periods of timeMonitored energy levelsTracked stress levelsRemoved social media apps from phoneTracked caloric intake/dietTracked screentimeFollowed a meal plan provided on an appUsed a fitness app for exerciseTracked heartrateTracked sleepManaged existing health condition(s)T

103、racked daily,weekly or monthly exerciseHave used regularly in the last 3 monthsHave used a few times in the last 3 monthsHave used but not in the last 3 monthsNever uesdInterest in sustainability is continuing to accelerateThe imperative for sustainability continues to increase and consumers are alt

104、ering their behaviors and consumption patterns to consume“better”rather than“more”.Companies will need to embed sustainability in their agenda,purpose and products/services.Page 43Consumers are reducing their consumption due to affordability concerns.This is indirectly leading to more sustainable ac

105、tions as a result of less consumption.Source:EY Future Consumer Index,June 202364%are deeply concerned about the fragility of the planet43%expect that climate change will worsen in the next six months51%say purchasing and behaving sustainably is a guiding principle in everyday life59%will pay more a

106、ttention to the environmental impact of their consumption in futureConsumers are conscious of their environmental impact 84%carry reusable bags to the store while shopping83%try to conserve water71%try to reduce emissions79%recycle/repurpose products after use and are changing their behaviorAt least

107、 some of the timeMost consumers intend to behave more sustainably in GlobalPersonal efforts to live more sustainably in ChinaPage 44Source:EY Future Consumer Index,June 202318%21%22%22%23%23%24%25%27%27%32%34%35%38%39%47%50%43%44%52%35%49%48%45%49%50%45%48%48%46%44%42%38%36%29%29%23%33%23%24%25%22%1

108、9%24%16%16%16%16%17%14%12%10%6%3%10%5%5%6%4%4%4%4%2%3%2%2%1%2%0%10%20%30%40%50%60%70%80%90%100%I compost products after useI pay extra for electricity sourced from renewable energy sourcesI make purchases based on ethical behavior of an organizationI use solar power in my homeI am following a plant-

109、based dietI turn down plastic utensils on to-go food ordersI try to restrict my travel by airplaneI make purchases based on environmental impact of a productI am switching to sustainable alternatives of the products I buyI tell my friends about products that are good for the planetI use public trans

110、port or bikes over carsI recycle or repurpose products after useI recycle or reuse packaging after useI try to reduce emissionsI bring reusable shopping bags to the storeI try to conserve energyI try to conserve waterAll the timeSome of the timeRarelyNeverPage 45Consumer buying patterns are shifting

111、 with many accounting for sustainability-related issues when making purchase decisions.42%are willing to pay more for products made in a sustainable manner60%Source:EY Future Consumer Index,June 2023make purchase decisions based on the environmental impact of a product or service 58%make purchase de

112、cisions based on the ethical impact of a product or service 60%are switching to sustainable alternatives in the products they buyEnvironmental and ethical considerations are shaping consumption choices in GlobalInformation services used to improve knowledge and ability to reduce environmental impact

113、 in ChinaPage 460%15%21%30%32%38%39%40%44%0%10%20%30%40%50%60%70%80%90%100%OtherNone of theseServices that track labor practices in the supply chainUsing broad food impact/better-for-the-environment scores such as traffic light labelsServices that track my water footprint/useServices that track my r

114、ecycling and waste outputServices that track my environmental/carbon footprintServices that track the healthiness of products I consumeServices that track air quality in my current environmentPrice perceptions continue to dampen demand for sustainable products while concerns over inferior quality de

115、cline in GlobalPage 47%of consumers who do not purchase sustainable goods for the following reasons68%67%Not durableHigh priceDeceptivemarketing66%52%Low qualityLack of informationor transparency60%55%55%55%58%51%Misleadinginformation62%56%May-21Apr-23While price remains the biggest barrier to susta

116、inable purchases,concerns over quality,transparency,durability,etc.are falling.Source:EY Future Consumer Index,June 2023Page 48Lack of information,transparency and standardization lead to confusion regarding sustainability claims and remain a challenge for consumers to see the impact of the choices

117、they make.60%need better information to make more sustainable choices48%are confused by sustainability claims of companies48%find it difficult to access sustainable products50%do not always trust the claims made by companies or brandsSource:EY Future Consumer Index,June 2023Sustainable consumer choi

118、ces are hindered by lack of transparency and trust in GlobalFactors that deter from purchasing sustainable products in ChinaPage 49Source:EY Future Consumer Index,June 202332%36%40%43%49%49%49%50%52%54%55%56%41%34%39%38%37%36%35%33%33%32%30%27%28%30%20%19%14%15%15%17%16%15%15%17%0%10%20%30%40%50%60%

119、70%80%90%100%Opinions of othersPolitical viewsLack of interestNot accessible or convenientNot durableMisleading information about productConfusion about sustainability claimsLack of trust in the company/store/brandLack of information availability or transparencyHigh priceLow qualityDeceptive marketi

120、ngDeterSomewhat deterDo not deterPage 50As consumers hold companies accountable for their activities,they are also looking their leadership on key issues that drive positive change.Source:EY Future Consumer Index,June 202367%feel businesses must ensure suppliers comply with high sustainable standard

121、s of practice48%think products would be banned if they were bad for society or the environment69%68%48%48%55%believe it is up to consumers to drive companies to better social and environmental outcomes55%55%May 21 Oct 22 April 2369%feel companies should drive positive social and environmental outcom

122、es68%70%Consumers expect companies to play a key role in delivering a sustainable future in GlobalInfluence on purchasing sustainable products and services for Chinese consumers Page 51Source:EY Future Consumer Index,June 202365%68%69%69%69%70%70%72%72%73%74%76%27%23%25%23%22%24%23%24%23%23%19%19%8%

123、9%6%8%9%6%6%4%5%4%7%5%0%10%20%30%40%50%60%70%80%90%100%I pay more for products that are produced sustainablyI am deeply concerned about the fragility of the planetPurchasing and behaving sustainably is a guiding principle in my everyday lifeConsumers should drive companies to better social&environme

124、ntal outcomesI mainly take environmental action when it saves me moneyI have a responsibility to encourage more sustainable behaviors in companiesI assume that products bad for society/environment would be bannedBusinesses must ensure that suppliers meet high environmental/social standardsI need mor

125、e information for better sustainable shopping choicesCompanies/organizations need to drive positive social and environmental outcomesGovernment is doing enough to make my country more sustainableGovernments need to drive positive social and environmental outcomesAgreeNeutralDisagreeEY Future Consume

126、r IndexPage 52Page 52Subsector implicationsGrocery retail:Rising prices are driving consumers to prioritize essentials and optimize grocery spending in ChinaPage 5329%are purchasing only the essentialsare concerned about increasing cost of groceries and household essentials plan to spend less on gro

127、cery delivery services in next three to four monthsConsumers are managing their budgets by reducing their list of essentials,trading down from brands and cancelling delivery subscriptions.These actions have resulted in increased in-store traffic and the prioritization of store brands by retailersBra

128、nds and retailers must now find a common agenda that meets the needs of increasingly cost-conscious consumers they can do this by using B2B digital tools offered by major CP companiesWhat companies could considerReassess and evolve a brands value proposition to cater to the cost-conscious consumerIn

129、crease trade spend to give brands visibility as consumers seek out low cost or private label alternativesEvolve and promote private label brand portfolio to grow share of walletInvest in technology for achieving productivity savings and to deliver better shopping experiencesfeel private label satisf

130、ies their needs just as well as branded productsNotes:*Trust includes Completely trust and Moderate trustSource:EY Future Consumer Index,June 202364%12%71%Softlines retail:The rise of conscious consumption is slowing down fast fashion and driving new service models,as consumers seek to“buy better no

131、t more”in ChinaPage 5444%are less interested in the latest fashion trends57%try to repair,not replace items when they canThe cost-of-living pressure is pushing consumers to reduce their spend on non-essential categories and leading to declining interest in fashion trendsConsumers are exploring econo

132、mical and sustainable alternatives to buying new clothes,such as utilizing repair,rental and second-hand servicesThey are seeking unique and tailored experiences,delivered in an immersive environment,where the transaction becomes secondaryWhat companies could considerDevelop circular business models

133、 to support frugal consumptionPartner with second-hand platforms to extend brand presence,while also providing a service that ensures authenticityOptimize assortment to cater to the value-conscious consumerDevelop new tech enabled service-led solutions to deliver tailored experiences that enhance cu

134、stomer engagementNote:*Clothing,shoes,and accessories;Source:EY Future Consumer Index,June 2023are purchasing less softlines as a result of price increases14%56%consider purchasing a private label option for clothing,shoes and accessoriesHardlines retail:A decline in big-ticket spending will lead to

135、 greater sustainable practices and digitally-enabled experiences in ChinaPage 5531%plan to spend more time at home54%deter from purchasing products because of big ticketConsumers are cautious about their spending on discretionary items such as furniture and appliances amid high cost of living they w

136、ill increasingly economize and lengthen the life cycle of the existing goods by recycling and repurposingDigital engagement is a growing focus for companies as physical and digital retail integrate and consumers expect more interconnected and personalized experiencesWhat companies could considerInve

137、st in circular business models and eco-friendly products and packaging that enable consumers to stay engaged with the brand as they look for affordable,sustainable solutionsOffer new digital experiences and explore collaborations with home d cor/virtual interior design services to innovate and enhan

138、ce seamless customer experiences online and in-store33%have used online virtual interior design services in the past three months82%regularly recycle or repurpose products after useSource:EY Future Consumer Index,June 2023Food:As brands test their price elasticities,consumers want more in exchange f

139、or their money in ChinaPage 56consider purchasing private label brand for fresh food36%will not spend more on fresh food in next three to four monthswill pay more attention to the environmental impact of their consumptionInflationary pressure and price sensitivities are driving consumers to become l

140、ess loyal and switch to brands or private label that fit in their budgetPrivate label continues to make volume gains while brands maintain their share of value as a result of various pricing actions that enable margin expansionsFood companies are making strategic trade-offs to deliver for investors

141、as they navigate todays ongoing disruptionsay they only buy brands when they are on sale,promotion or discountedSource:Press articles,EY Future Consumer Index,June 2023What companies could considerLaunch flanking brands to protect share from private label gainsInnovate to create new added value(and

142、expand margins)that private label cannot offer consumersIncrease marketing spend to communicate differentiating factors and brand value Premiumize portfolio for sustainability or health to enable further value creation and margin expansion41%67%67%Beverages:Price-conscious consumers are reducing dis

143、cretionary consumption and opting for affordable,sustainable solutions in ChinaPage 5751%77%plan to spend less on alcoholic beveragesare socializing in person as much as they were pre-pandemicare switching to sustainable alternative productsMost consumers are responding to beverage price increases b

144、y either reducing consumption,switching to cheaper alternatives,or stopping purchases altogetherConsumers are more concerned about health and wellness than ever and are leaning toward consumption of lower sugar drinks and affordable luxury alcoholSustainability is a key area of concern for consumers

145、 who are making efforts to reduce environmental impact in tactical areas of their lives,such as avoiding plastic bottles30%What companies could considerRe-evaluate price-pack architecture to maximize affordability for consumers while optimizing profitabilityReformulate beverages to serve increasing

146、consumer demand for functional benefits or no/low alcoholInvest in circular business models that align with consumer price sensitivities and demand for affordable,sustainable solutions26%are trying new brands to reduce costs*Source:EY Future Consumer Index,June 202325%HPC:Demand is shifting away fro

147、m cosmetics to skincare,but rising prices are impacting purchases in ChinaPage 58Consumers are shifting away from conventional color cosmetics to embrace skinification and lifestyle solutions,but consumer sentiments remain subdued due to rising prices and geopolitical tensionProducts are increasingl

148、y researched and bought online as shoppers seek convenienceIncreased competition is coming from private label and celebrities launching their own skincare brandsWhat companies could considerInvest in digital channels and experiences like the metaverse,as they are becoming as important to the shoppin

149、g journey as the physical storeReview the beauty portfolio to align with new consumer demands around skin care and beautyIntegrate the digital experience with the physical store to drive trial and more at-home useexpect price increases for household care products42%are willing to use private label f

150、or beauty and cosmetics49%plan to spend less on beauty and cosmetics items18%are more comfortable in their own skin without cosmetics productsSource:EY Future Consumer Index,June 2023Tobacco:Tobacco faces long-term challenges as consumers become more health conscious in ChinaPage 5946%26%79%say“heal

151、thy”will be a top purchase criteria in the longer termare trying new brands to reduce costplan to be more aware about their physicalhealth in the long termConsumers are increasingly aware of their choices direct impact on their health and plan to spend less on tobaccoContinuing increases in tobacco

152、taxation,including an extension into reduced risk products,will further reduce consumer spending on tobacco Price sensitivities are causing consumers to switch to economy brandsWhat companies could considerInnovate in novel delivery formats and synthetic reformulations that cater to specific health

153、requirementsStretch brands to offer entry-level products to attract cost-conscious consumersImplement exceptional ethical and sustainable behaviors to make up for the negative image pertaining to combustiblesCollaborate to diversify business beyond nicotine productswill spend less on tobacco in next

154、 three to four months35%Source:EY Future Consumer Index,June 2023Consumer durables:Consumers are cutting back on big-ticket items,but energy efficient products and rental services present opportunities in ChinaPage 6019%85%plan to spend less on consumer electronics in the next few monthsare trying t

155、o conserve energySustainability concerns and energy scarcity coupled with increasing prices are prompting consumers to become more conscious of consumption,including energyConsumers are maximizing value and lifespan of their current possessions instead of replacing to keep up with the latest technol

156、ogical innovationsWhile consumers appreciate the convenience provided by connected smart devices,they remain concerned about data privacy and securityWhat companies could considerInvest in new smart techs,and connected systems,such as AI and IoT-enabled durables to drive growth Prioritize energy eff

157、iciency of consumer durables while advocating for their environmental benefitsEnhance the value of products,by combining them with services,and establishing partnershipsAssure consumers that their privacy and the integrity of their information will be safeguarded34%no longer feel the need to keep up

158、 with the latest technology and gadgets 75%are concerned about being monitored by voice-activated devices in their homeSource:EY Future Consumer Index,June 2023Restaurants:Consumers believe the way they eat out will improve in the long term in ChinaPage 6157%25%believe the way they eat out will impr

159、ove in the long termwill order take-out/delivery from restaurants less oftenare socializing in person as much as they were pre-pandemic Consumers are seeking for special experiences when dining on-premise,and expecting promotional offers such as Buy-One-Get-One,seasonal discounts,or benefits from re

160、ward programsDespite growing health awareness,consumers want to indulge when eating out and dont compromise on taste51%What companies could considerInvest in automation and robotics to reduce the impact of labor shortages and maintain steady qualityInvest in technologies for faster order-fulfillment

161、 and inventory management to improve the experienceTap into pent-up demand by creating exclusive restaurant experiencesCommunicate the actions being taken to provide decent work and opportunities for employees41%are cooking at home more oftenSource:EY Future Consumer Index,June 2023Agribusiness:Grow

162、ing awareness on sustainability is influencing purchase decisions to support local and ethically-sourced products in ChinaPage 62believe businesses must ensure that all their suppliers meet high ESG standardsConsumers are paying more attention to the environmental impact and sourcing of the products

163、 they purchase some are doing this via technology-enabled information servicesConsumers increasingly prefer brands that are transparent in their sourcing practices,prompting CP companies to pilot technology-driven programs to prove their suppliers meet ESG standards and expectationsWhat companies co

164、uld considerReshape portfolios to align with growing consumer preferences,particularly on sustainabilityIncorporate messaging on product packaging to demonstrate commitment to ethical sourcing and fighting the climate crisisExplore sustainability technology to provide supply chain transparency and e

165、nsure sustainable food productionLocalize supply chains by partnering with providersare switching to sustainable alternative productsuse broad food impact/better-for-the-environment scores to reduce their impactwill pay more attention to the environmental impact of what they consumeSource:EY Future

166、Consumer Index,June 202367%72%77%30%Page 63EY Future Consumer IndexFuture trends and responses Brands will need to maintain loyalty and build trust,to reap the benefits when their customers can return with more disposable income.Sharper focusPage 64Globally Affordability first is among the two large

167、st consumers groups together with Health first.In China,Health first became the largest consumer group.Companies are reacting to these disruptions by taking pricing actions,reshaping portfolios,and pursuing productivity initiatives.Due to the increasing popularity of digital technology of consumers,

168、companies are developing tools and using AI while concerning digital trust and cybersecurity.Customers behaviors are changing for better rather than more,which makes companies pay more attention to sustainability.EY|Building a better working worldEY exists to build a better working world,helping to

169、create long-term value for clients,people and society and build trust in the capital markets.Enabled by data and technology,diverse EY teams in over 150 countries provide trust through assurance and help clients grow,transform and operate.Working across assurance,consulting,law,strategy,tax and tran

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172、le via member firms do not practice law where prohibited by local laws.For more information about our organization,please visit .2023 Ernst&Young,China.All Rights Reserved.APAC no.03017620ED None.This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting,tax,legal or other professional advice.Please refer to your advisors for specific us on WeChatScan the QR code and stay up-to-date with the latest EY news.