The Euromonitor International Consumer Report reveals very interesting data about Danish consumer behavior and spending habits. Danish demography continues to follow the trend towards an aging population as well as falling birthrate. With the continued instability of the economy, there have been observed changes in consumer choices among the Danes.
Many retirees are extending their working life by opting for new careers. This has effectively converted this group from liability to assets. There has also been an observed increase in single travelers and more women over 40 having children. The young adults group is believed to be the hardest hit by the financial crisis. In a related move though is the phenomena of role reversal wherein more and more children are buying homes for their parents instead of the other way around.
Health and sustainability continues to be a strong trend. The number oif fleamarkets for fashion items is on the rise. Men have also been exhibiting more interest in cosmetic surgery judging by the actual number that had them done. One interesting development in this area is the rising use of instant loans to finance these cosmetic procedures.
Phones are getting into the hands of children by age 9. Like in most parts of the world, physical activity is being replaced by apps on tablets and mobile phones. In what appears to be a balancing act, e-cyclists’ number is on a steady rise as well as that of cross-fit enthusiasts.
These are just some of the interesting observations of Danish consumers. Knowing and understanding them can make a difference for businesses.