The changing consumer

At first glance, a US bookstore chain’s filing for bankruptcy protection, a Peruvian opting to buy an iPhone rather than installing hot water at home, and a Spanish retailer’s $300 million acquisition of a shop in Manhattan’s poshest shopping street are just three intriguing but random retailing events in 2011.

In fact, they reflect three long-term secular themes in the consumer space that Jack Neele and Richard Speetjens have identified: the rise of the digital consumer, the advance of the emerging markets consumer and changes in consumer behaviour reflecting megatrends such as global aging and increasing awareness of environmental issues. All three developments offer exciting investment opportunities.