Understanding consumer behaviour 2024 today
Understanding consumer behaviour 2024 today
Blog Article
We are actually going to be spending a bit of time going through the factors that have affected consumer behaviour this year.
Just like in many other years through out history, there have been various factors that have contributed to consumer behaviour change this year, factors that impact the way we as individuals act as customers. For merchants, exploring how has consumer behaviour changed over the years can be a great way to guarantee that their future products will be successful with their target audiences, permitting them to conveniently know that they will have the ability to to reach profit in the course of the upcoming financial year. One of the greatest factors to influence consumer behaviour in recent times has to be social media, the internet platforms that have attained enormous popularity amongst both Gen Z and Millennial audiences in recent times. In the past several years, a short video sharing platform has become an incredibly prominent way for brands to directly sell their merchandise to their target consumers, with certain brands creating interesting promotions and product packages only available within the platform. As we happen to be in a time when the huge reach of social media is not expected to go down anytime soon, we imagine the fund that partially owns Walgreens Boots will be fascinated to see exactly how other retailers continue to make full use of social media shopping in the months ahead.
For shops, acknowledging the importance of consumer behaviour has never been so important, as it is a brilliant way for brands to assure that they are communicating to their target market in the most efficient way possible. In recent years, many companies have been taking note of changing consumer behaviour in retail and assessing the factors that have affected behaviour in recent years. At a time when stories of rising ocean levels and inclement weather patterns are coming to be a frequent feature of current affairs, it is unsurprising that so some consumers are deciding to shop much more conscientiously as a way of decreasing their own carbon footprints. As a result, numerous consumers have come to be much more careful when considering shopping, opting to only back brands that have made their ethos on sustainability extensively known. Other consumers have made the conscious effort to shop second hand, resulting in numerous retail companies updating their brand plan of action as a direct result. With the issue of global climate change not set to disappear any time in the future, we anticipate the hedge fund which owns Waterstones and the fund that partially owns Amazon will be interested to witness exactly how sustainability remains a factor that has an effect on market behaviour.
With a new economic year about to begin, we envision numerous brands will be being attentive to consumer behaviour change examples as a method of guaranteeing that their strategy is fundamentally suited for purpose. One of most significant factors set to influence consumer behaviour this year has to be the reality that customers really like shopping with companies that have invested hugely into developing technological innovations like artificial intelligence and VR, something that is not shocking in an interesting time for the rapidly developing technology.