Are you curious about the current consumer trends? This brief post will provide some industry insights.
While customers website will constantly favour higher quality products at competitive rates, there are other considerations that are taking top priority at present. For example, ethical and environmental practices are seen as non-negotiables by most consumers who wish to buy from brand names which share their values. The last few years have seen more companies focus on sustainability and eco-friendly practices, and this came as a direct response to consumer demands and pressures from regulators. Today, making sure that businesses are operating sustainably and ethically is one of the most important consumer trends all over the world. This has been made a lot easier considering that most businesses are now required to report their environmental effect and salient info about their functional procedures. This is why supporting regional businesses is gaining a good deal of momentum as these brand names tend to be less damaging to the environment. This is something that the activist investor of Whirlpool is most likely aware of.
The age of social media has actually changed much about the method in which we go shopping, eat, and consume information. In fact, social media affects our lives and decision-making in more methods than one. Possibly one of the most apparent implications is how our shopping practices have actually altered and the way we perceive brands due to the lens of social media. Today, many individuals make their shopping decisions based on content they have actually seen from a social media account they trust. This is why brands invest significant sums into social media marketing because they understand that it is a powerful tool that can help them generate substantial sales. Social media influencers play a main role in this formula as they help shift individuals's understanding and opinions thanks to the huge followings they have. This has turned into one of the most studied macro consumer trends, something that the fund with shares in General Mills will know.
Maybe one of the most popular trends in consumer behaviour that continues to acquire momentum is consumers demanding more convenient services. While this holds true across the board, this pattern is most impactful in the e-commerce space. Today, customers favour e-commerce websites and apps that include a remarkable user experience, from quick and fluid navigation to customer-centric functions. Customers understand that are spoilt for choice when it concerns online shopping, which is why brand names invest a great deal of time, effort, and cash into making their platforms the most attractive to consumers. For instance, the provision of a wide range of payment options is among the key consumer behaviour trends these days. Not only is this more convenient to customers, but it also valuable to businesses that are likely to guarantee a sale by providing various payment methods. This is something that the US shareholder of Pernod Ricard is likely to confirm.