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The McKinsey Podcast
Think you know what consumers want? Think again.
Jul 25, 2024
McKinsey senior partner Sajal Kohli discusses consumer behavior trends, emphasizing consumers' desire for value, sustainability, and experiences. The podcast also explores how CEOs use storytelling to build energy and inclusivity in their organizations.
34:25
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Quick takeaways
- Consumers prioritize experiences over goods, emphasizing the need for value in their purchases.
- Employee engagement and storytelling are key for CEOs to build energy and inclusivity within organizations.
Deep dives
Future Consumer Spending Patterns
Consumer behavior is shifting globally, with emerging markets' young consumers displaying a high willingness to spend on premium products. Additionally, the older demographic, often overlooked, shows significant spending power in experiential categories. Despite rising living costs, the middle class plans to splurge on discretionary items like travel and dining, reflecting an unexpected trend of increased spending.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode