Understanding consumer behaviour examples now

Understanding consumer behaviour examples now

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We are actually going to be spending a while examining the factors that have affected market behaviour this year.

Just like in many different years throughout history, there have been many factors that have resulted in consumer behaviour change this year, factors that affect exactly how we as individuals act as consumers. For merchants, exploring how has consumer behaviour changed over the years can be a great way to ensure that their future products will be successful with their target audiences, enabling them to conveniently know that they will be able to reach profit during the course of the upcoming financial year. One of the most significant factors to affect consumer behaviour in recent years has to be social media, the online platforms that have accumulated great popularity among both Millennial and Gen Z audiences in recent decades. In the past few years, a short video sharing website has become an unbelievably prominent method for brands to directly sell their goods to their target consumers, with many brands developing interesting deals and product bundles only available within the platform. As we are in a time when the huge reach of social media is certainly not expected to decrease anytime soon, we imagine the fund that partially owns Walgreens Boots will be interested to see exactly how other retail companies continue to make use of social media shopping in the many months ahead.

For retailers, acknowledging the importance of consumer behaviour has never been so vital, as it is a fantastic way for retailers to assure that they are communicating to their target demographic in the most efficient way possible. In recent years, many companies have been taking note of changing consumer behaviour in retail and evaluating the factors that have influenced behaviour in the past several years. At a moment of time when tales of rising ocean levels and inclement weather patterns are coming to be a regular part of current affairs, it is unsurprising that so some consumers are deciding to shop a lot more responsibly as a method of lowering their own carbon footprints. As a result, lots of consumers have come to be much more careful when it comes to shopping, deciding to solely support companies that have made their philosophy on sustainability widely known. Some other consumers have made the mindful effort to shop second hand, leading to many retail companies updating their brand strategy as a direct result. With the dilemma of global climate change not set to disappear any time in the future, we think the hedge fund which owns Waterstones and the fund that partially owns Amazon will be fascinated to observe exactly how sustainability continues to be a factor that influences consumer behaviour.

With a new economic year about to commence, we imagine many brands will be being attentive to consumer behaviour change examples as a method of guaranteeing that their strategy is ultimately fit for purpose. One of greatest factors set to effect consumer behaviour this year has to be the fact that consumers prefer shopping with retailers that have invested hugely into developing technology like artificial intelligence and VR, something that is not shocking in an interesting time for the new rapidly developing technologies.