FCI Wave 14: snackable, data-driven vignettes

10 minute read 29 May 2024

Consumers today are hungry for snackable, data-driven vignettes. Is your digital food truck open for business?

In brief

Many consumers have already been forced to change how they consume their data, from biting off more than they could chew to now preferring teeny tiny little baby bites, according to EY global research.
People are increasingly willing to pay more for less, so long as it's said to help combat climate change, although this is still a growing minority view.
Consumers are worried about the health of the planet and expect people to stop other people from eating meat. Meanwhile, I prefer my ribeye steak rare to medium-rare.

We're living in a decade defined by change, and so we are changing the layout of this issue of the Index.

Below is a list of snackable data bits. Use the links to jump to the vignette of your choosing.

Vignette 1
Vignette 2
Vignette 3
Vignette 4
Vignette 5

Vignette 1

Key content / takeaway ...................................................................................................................................................................................................................................................................................

This chart lists the types of measures consumers are taking because they feel the impact of climate change. For example, activities include adapting a place of residence to account for climate change, accessing healthcare due to climate related illness or disease and purchasing survival kit(s). The chart shows that although some consumers have not thought about taking measures (ranges between 29% and 65%), many have thought it (ranges between 25% and 42%) and some have even taken action (ranges between 10% and 29%).
The second chart shows the percentage of consumers who are feeling impacted by climate change impacts, for example, by extreme weather events (45%), water shortages (44%), or crop and harvest changes (43%).

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Paragraphs on context / interpretation

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Paragraph on so-what/implications/actions

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Vignette 2

Another timely and topical point, and why it matters.

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... more on V2 ........................................................................................................................................................................................................................................................................................................................................................................................................

This chart explores the top sustainability issues consumers believe society should address. It covers 19 countries and shows the share of consumers who rank each issue in their top three more important. For example, for US consumers, clean water and sanitation is the top priority (27%), but for consumers in Canada it’s combating climate change and impacts (37%). For consumers in China sustainable ecosystems and biodiversity (35%) is the top issue, but for Australian consumers it’s affordable and clean energy (32%).

Vignette 3

Another timely and topical point, and why it matters.

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The chart considers the different types of sustainability interventions preferred by different generational groups. It shows that older generations prefer to make lifestyle changes including recycling, conserving energy and water, and repairing products. And younger generations prefer to take steps to hold companies to account – for example, avoiding buying brands that are harmful to the environment and validating sustainability claims.
The chart also explores general attitudes towards sustainable products – for some, they make them feel more positive about the brand, and more inclined to purchase the product.

... more on V3 ..........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

This chart covers product features that consumers are willing to pay more for. For example, consumers say that they’ll pay more for higher quality, and for products that promote health and wellness, a trusted brand, or sustainable goods and services. It also shows that this sentiment has grown between February 2022 and October 2023. For example, willingness to pay more for brands I trust has grown from 25% to 35% during this period.
The second chart takes the same product features and looks at willingness to pay more by generations. Gen Z are more willing to pay a premium except for products made in my country (which is highest amongst Baby Boomers).

Vignette 4

Another timely and topical point, and why it matters.

This chart explores, by country, what consumers believe are the top issues for companies to address. It covers 19 countries and shows the share of consumers who rank each issue in their top three for companies to solve. For consumers in the UK, it’s reducing waste (28%); in France, it’s reducing soil and water pollution (26%), but in Denmark, it’s using renewable sources of energy (31%). For South Korea, it’s reducing greenhouse gas emissions (39%), but in Nigeria it’s to stop selling products that contain harmful / unsustainable ingredients (32%).

... more on V4 ........................................................................................................................................................................................................................................................................................................................................................................................................

This chart looks at data from the EY CEO Outlook Pulse Survey (July 2023). It shows that a significant percentage of Consumer CEOs (ranges between 59% and 62%) see risks to their business from a variety of sources including regulatory risk; macroeconomic / market volatility; technology, cyber, digital disruption risk; geopolitical / trade conflicts; and ESG / sustainability risk.
Faced by such a variety of risks to prioritize, the second chart shows how Consumer CEOs are having to take a practical approach to funding their sustainability initiatives with 32% saying they divide capital equally to support sustainability initiatives and other business priorities.

Vignette 5

Another timely and topical point, and why it matters.

Directional only - to be refined.

About this article

If you could meet tomorrow’s consumers today, what would you ask?

Using generative AI personas to bring to life tomorrow’s consumers today, we’re helping businesses shape preferable futures and stay relevant. Find out more.

Kristina Rogers + 1

When consumers want less but demand more, how will your business grow?

What’s driving the evolution of consumption? Find out more so you can identify growth opportunities and adapt your business.

Kristina Rogers

How to serve consumers who rely on tech, but don’t trust tech

Our global research shows how digital is transforming the consumer and why relationships shaped by trust, respect and value are critical. Learn more.

Kristina Rogers

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

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FCI Wave 14: snackable, data-driven vignettes

Consumers today are hungry for snackable, data-driven vignettes. Is your digital food truck open for business?

In brief

Vignette 1

Paragraphs on context / interpretation

Paragraph on so-what/implications/actions

Vignette 2

Vignette 3

Vignette 4

Vignette 5

Directional only - to be refined.