The middle class is increasingly looking for savings. A great revolution in stores

Consumer behavior is changing – on the one hand, the premium customer segment is growing, and on the other, an increasing group of consumers is looking for savings – according to the report “KPMG CEO Outlook 2025. Consumer & Retail”. This forces companies to operate in different price segments in parallel.

The “KPMG CEO Outlook 2025. Consumer & Retail” study, published on Tuesday, and conducted among 120 CEOs of global companies, showed that the consumer goods and retail sectors operate in conditions of growing demand polarization and pressure on margins, which translates into a more selective approach to investments and business transformation.

Consumer goods and retail executives' confidence in their own companies' growth was estimated to have dropped to 77%. with 82 percent a year earlier, reflecting the challenging market environment and continued cost pressures.

While 78 percent People managing companies from the consumer goods and retail sectors believe in the industry's growth prospects, but only 13 percent forecasts revenue growth at the level of 5 – 9.9 percent.

A clear change in consumer behavior

The authors of the report pointed out that at the same time there is a clear change in consumer behavior – on the one hand, the premium customer segment is growing, and on the other, an increasing group of consumers are looking for savingswhich forces companies to operate in different price segments in parallel.

They also noted that the resilience of supply chains is indicated as the most important short-term challenge by 52%. respondents. Experts estimated that this was a significant increase compared to 30%. in 2024 and 15 percent in 2023. They indicated that factors such as geopolitical tensions, trade barriers and climate crises lead to the reconstruction of operational strategies, including supplier diversification.

The study also shows that the Polish consumer goods and retail market has been experiencing deep demand polarization in recent years – similarly to Western markets, with the difference that in Poland this phenomenon is occurring faster due to dynamic changes in real incomes.

“The premium consumer is growing in strength, but the middle class is increasingly looking for savings, which forces distributors and manufacturers to operate in several price segments at the same time,” noted Piotr Grauer, Associate Partner in the Deal Advisory Department, Advisory Leader for the consumer goods sector at KPMG in Poland. He added that as a transit country and producer for many European chains, Poland must simultaneously absorb external shocks and build the resilience of its own logistics structures.

The approach of company leaders to mergers and acquisitions is changing

The report notes that at the same time, the approach of company managers to mergers and acquisitions is changing. “Organizations are moving away from large, transformational transactions in favor of more selective acquisitions that support the development of specific competences or entry into new product categories,” said the authors of the study.

In their opinion, the overall volume of mergers and acquisitions is likely to rebound in 2026 – “driven by disinvestments by large corporations and the growing activity of private equity funds returning to the market in search of attractive acquisition targets.”

According to experts, artificial intelligence is becoming one of the main drivers of transformation. 64 percent CEOs indicate it as an investment priority, and 73 percent plans to allocate 10% for it. up to 20 percent technology budget. 68 percent respondents expect a return on investment in AI within one to three years, which, according to experts, means a clear acceleration compared to last year. They indicated that technological transformation also affects the labor market – 73%. organizations redesign employee roles and career paths, and 82 percent indicates that AI is changing the way competences are developed.

KPMG is a global organization of independent companies providing professional services in the field of audit, tax advisory and economic advisory.

The KPMG CEO Outlook 2025 report “Consumer & Retail” is the eleventh edition of the global KPMG survey, conducted among 120 CEOs of companies from the consumer goods and retail sectors, managing organizations with annual revenues exceeding USD 500 million. The survey was carried out in the period from August 5 to September 10, 2025 in 11 key markets, including the USA, Great Britain, Germany, Japan and China. (PAP)

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