Irrespective of concerns over health or the rising price of food and drink and the ability to handle everyday living costs, the desire for indulgence and treating remains a key reason for turning to food and drink. Consumer insights show that there is a drive towards becoming more quality-orientated and prone to challenge the perceptions of what constitutes a premium product, even in categories that have historically had a more economical image, consumers are demonstrating a greater willingness to trade-up. However, consumers are becoming more questioning when it comes to the practices and policies of brands, meaning phrases like premium and artisanal can be subject to subjectivity and skepticism, impacting and shaping new market trends. At the same time, these phrases are also becoming more diverse, with premium attributes not confined to more conspicuous attributes, but wider issues such as ethicality, health, and self-expression. FMCG Gurus Quality & Indulgence global report (2020) examines what premium means to consumers and what can encourage trade-up across the globe.
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