BBM 72 - January 2024

BBM • JANUARY - OCAK 2024 64 INTERVIEW • RÖPORTAJ When addressing consumer insights and behaviors, it is essential to first consider the compelling factors. Factors such as climate change, regional crises, economic challeng- es, and global pandemics can change consumers’ priorities or blur what is more prioritized. The most significant global factor influencing consumer behavior is inflation. At the end of the day, consumers feel the financial burden in terms of health and nutrition. The price of products has become the number one factor affecting household expenditures. The inflationary environ- ment in emerging markets has limited purchasing power. Con- sumers have become more sensitive to prices and tend to choose and cut across categories to optimize their spending. Shoppers today must determine a smarter spending strat- egy than ever before because the number of categories they consider essential has never been higher. To spend optimally, they must make choices and cuts across catego- ries. The cuts they make in their spending can be uneven between product categories, making some categories more sensitive to changing consumer behaviors and potentially sacrificing nutritional value. For example, according to Ipsos household research data, consumers in Turkey reduced purchases in protein- rich but high-priced dairy product categories such as milk, meat, yogurt, cheese, and butter in the first half of 2023. Instead, they increased purchases of more affordable and calorie-rich products such as biscuits, cakes, snacks, choco- late, iced tea, energy drinks, and iced coffee. NielsenIQ’s Mid-Year 2023 Consumer Outlook survey shows that 34% of global consumers indicated they were financially worse off this year. Compared to the global aver- age, consumers in Turkey, South Africa, and Egypt feel less financially secure. Consumer behavior is expected to change under the pressure of rising prices. According to the NielsenIQ Con- sumer Outlook survey, many consumers in the Middle East and Asian countries mention cooking more at home, spending less on dining out and entertainment, and mak- ing choices among many discretionary spending categories like clothing and grooming. Health and healthy living have become one of the most prioritized areas among their ex- penditures. What are the health and healthy lifestyle situations and trends in price-sensitive markets? Obesity and inadequate nutrition reveal two fundamental reflections on this matter. Different economic conditions in countries also reflect consumer trends related to health and healthy living. Tüketici içgörülerini ve davranışlarını ele alırken öncelikle zorlayıcı faktörleri dikkate almak önemlidir. İklim değişikliği, bölgesel krizler, ekonomik zorluklar, küresel pandemi gibi faktörler, tüketicilerin önceliklerini değiştirebiliyor veya neyin daha öncelikli olduğunu muğlaklaştırabiliyor. Tüketici dav- ranışlarını etkileyen en önemli küresel etken ise enflasyon. Günün sonunda sağlık ve beslenme konusunda, tüketiciler maliyet yükünü hissediyorlar. Ürünlerin fiyatı artık hane halkı harcamalarını etkileyen 1 numaralı faktör haline geldi. Gelişmekte olan pazarlardaki enflasyonist ortam, satın alma gücünü kısıtladı. Tüketiciler fi- yatlara daha duyarlı hale geldiler ve harcamalarını optimize etmek için kategoriler arasında seçim yapma ve kesme eği- limindeler. Tüketiciler bugün, her zamankinden daha akıllı bir harcama stratejisi belirlemek zorunda çünkü ihtiyaçları olduğunu dü- şündükleri kategori sayısı hiç olmadığı kadar fazla. Harcama- larını optimum seviyede yapabilmek için kesinti ve kategoriler