While consumers are still being careful with their spending, things are looking up. Even in the midst of economic pressure, nearly 4 in every 10 people say that it’s important that they treat themselves to a regular indulgence. On top of that, well over a quarter of consumers felt better off financially now than they did a year ago, meaning that they are more likely to act on that aspiration. 

• “It’s important to indulge or pamper myself on a regular basis” 39%  
  (GfK Consumer Life 2023, global)
• “I am better off financially now than I was a year ago” 28% 
  (NIQ Consumer Outlook, Jan 2024, global)

The world of coffee is perfectly placed to fill that desire for a regular personal indulgence without breaking the budget. It could be buying a high-end coffee machine or cafetiere, or taking out a subscription for a regular delivery of coffee blends or choosing an assortment of syrups to match every mood. 

The big question is, how do brands ensure that their offer stands out amongst all the competitors and triggers consumers to choose them? One of the answers is personalization. 

Throughout the ups and downs of recent years, people’s desire for items that can be perfectly matched to their individual needs has endured. Today, nearly half of all shoppers like to buy products that can be tailored to them.   

• “I like to buy products that can be tailored to my needs” 48%
  (GfK Consumer Life 2023, global)

Brands can service this desire from a whole range of angles. From the product side, brands should consider offering modular approaches that allow consumers to buy a basic product and add to it as they like, choosing from a varied selection of add-ons and enhancements. From the pricing and promotions side, this incorporates offering a spread of promotions to give your consumer the format they personally like the best – be that 2 for 1, or self-bundling with the cheapest item free, or a straight-out price discount or free sample.