4. Consumers lean local over global Over the past five years, we have seen disruptor consumer brands encroach on global, multinational brands. That trend has evolved in 2025: As new global trade agreements take shape and disruption continues, consumers are signaling the importance of buying local from their own markets. Globally, 47 percent of consumers identify locally owned companies as important to their purchase decision. 21 In Canada and the United States, in particular, the preference for local brands has jumped meaningfully compared with the first quarter of 2025 (Exhibit 4). 21 Survey question: When choosing a product or brand to purchase, how important to your decision are the following factors? Exhibit 3 0 25 50 75 100 Web <2025> Exhibit <3> of <5> — 810 pdf Intent to splurge, 1 Q2 2025, % of respondents 1 Question: With regard to products and services you will spend money on, do you plan to splurge/treat yourself over the next 3 months? For example, are there categories of products or services where you expect to make more expensive purchases than normal or purchase something to “treat” yourself? 2 EU-5 = France, Germany, Italy, Spain, and UK. Source: McKinsey ConsumerWise Sentiment Survey, Q2 2025 (n = 25,998) Gen Z consumers are more willing to splurge compared with other age groups. McKinsey & Company Australia Generation Z Millennial Generation X Boomers and Silent Brazil Canada China EU-5 2 India Japan Mexico Saudi Arabia South Korea UAE US 8 State of the Consumer 2025: When disruption becomes permanent