Consumer Duality

Consumer Duality. Amid the challenging economic cycle, consumers worldwide are exhibiting predictable behaviors. Some are opting for store brands, as seen in a European McKinsey study where 62% of consumers have already done so or plan to. Meanwhile, the "lipstick effect" also emerges, where consumers indulge in small luxuries when they can't afford big-ticket items. Brands' positioning during this time will play a crucial role in how consumers respond to the economic difficulties.