Consumer preferences have shifted from living large to paring down, a trend that has been accelerated by the pandemic. It wasn’t the pandemic that started this, but it certainly got more people to re-evaluate their values. Words like “authentic”, “transparent”, “charitable” and “sustainable” are cropping up is almost every conversation about what consumers want most. <b>Saving Tops Spending.</b> A recent global survey by PWC revealed that consumers are more cautious about spending, and placing a higher priority on saving instead of purchasing the next shiny object. To some extent, this coincides with less optimism about the economy. But it also reflects a new attitude where people are looking for ‘more substance than stuff’. It’s about fewer, but better, more meaningful things. More consumers say they are shopping online in order to find better prices. From greater attention to health and caring about the environment, as well as supporting local businesses, consumers are expressing a desire for things that have a sense of ‘consciousness’. <b>Less Brand Loyal.</b> The pandemic ushered in an unprecedented level of channel switching and brand loyalty disruption. According to a McKinsey & Co. survey, 75 percent of consumers tried new shopping behaviors, with many of them citing convenience and value. Fully 39 percent of them, mainly Gen Z and millennials, abandon trusted brands for new ones. That is reflected in the fact that many younger consumers say that they are still searching for brands that reflect their values. <img src="https://insidefashionlive.net/wp-content/uploads/2021/11/LlKYP-global-consumers-have-become-more-cautious-and-conservative-1-1024x984.jpg" alt="" loading="lazy" srcset="https://insidefashionlive.net/wp-content/uploads/2021/11/LlKYP-global-consumers-have-become-more-cautious-and-conservative-1-1024x984.jpg 1024w, https://insidefashionlive.net/wp-content/uploads/2021/11/LlKYP-global-consumers-have-become-more-cautious-and-conservative-1-300x288.jpg 300w, https://insidefashionlive.net/wp-content/uploads/2021/11/LlKYP-global-consumers-have-become-more-cautious-and-conservative-1-768x738.jpg 768w, https://insidefashionlive.net/wp-content/uploads/2021/11/LlKYP-global-consumers-have-become-more-cautious-and-conservative-1-750x721.jpg 750w, https://insidefashionlive.net/wp-content/uploads/2021/11/LlKYP-global-consumers-have-become-more-cautious-and-conservative-1.jpg 1140w" sizes="(max-width: 1024px) 100vw, 1024px" width="1024" height="984"> <b>Safe Space.</b> Home has become more than just a place to live. From investment in home improvement to the security that ‘home’ represents, “home as a hub” is a key trend. Today more people work from home, shop from home and workout at home. Accenture found that 46% of people plan to work remotely more frequently going forward. <b>Minimalism Matters.</b> Although consumers of all ages have embraced the digital world, that doesn’t mean that they don't seek simplicity. From minimalism to simple scaling down, consumers see purchasing things as a double-edged sword. On one side is the excitement of getting something new, but on the other is the burden of ownership. It costs money. I need to maintain it. Where will I store it? Do I really need it? These are questions that just a few years ago few consumers considered. Today, just about everyone is hitting ‘pause’ before purchasing.