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In 2020, almost **** of all consumers surveyed identified as value-driven consumers. In the report, value-driven consumers were primarily concerned with getting their money's worth and were willing to pay for the convenience.

Consumer segmentation

Consumer segmentation based on of habits, values, and lifestyle is a way to understand trends which may not be clear in other segments such as age groups. Brand-driven consumers are those who are highly engaged in shopping, and often have a higher average income than those in other segments. On the other hand, product-driven consumers are those that focus on functionality and often have a lower average income than other segments. These consumers do a lot of research on the product they wish to buy. The final segment, purpose-driven consumers, are willing to pay a premium for products that match with their beliefs and goals. Sustainability is an important topic for this type of consumer.

The rise of sustainability

As of 2020, almost ** percent of consumers now seek brands that are sustainable, environmentally responsible, and recycle, perhaps signalling a shift from predominantly value-driven consumption. In Europe, Italy is the leading country in consumers who consider the environmental impacts of their apparel purchases. Sustainable consumption, however, is not just limited to environmentally friendly production. The second-hand, rental and repair markets have all seen growth in recent years. By 2024, the second-hand apparel market values was forecasted to reach up to ** billion U.S. dollars.