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This consumer-driven, global economy ? the "trading up" phenomenon - was created and is driven by social and economic demand factors below.
Consumer Income - what consumers CAN buy:
? Increased discretionary income has influenced what consumers can buy.
? Increased number of women working outside the home increases total household income
? A rise in numbers of affluent households.
? An increasing number of married couples without children, single working females, and empty nester Boomers who are willing and able to spend
Consumer Taste - what consumers WANT to buy:
? Consumer tastes are shaped by their knowledge, culture, and personality...
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