Exploring consumer behaviour 2024 today
Exploring consumer behaviour 2024 today
Blog Article
We are going to be spending some time exploring the factors that have affected consumer behaviour in 2024.
Just like in many some other 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 retailers, understanding how has consumer behaviour changed over the years can be a very good way to make sure that their upcoming product lines will be prosperous with their desired audiences, permitting them to comfortably understand that they will have the ability to make profit during the upcoming fiscal year. One of the greatest factors to impact consumer behaviour in recent times has to be social media, the web platforms that have attained astounding popularity among both the Millennial and Gen Z audiences in recent times. In the past few years, a short video sharing website has become an exceedingly prominent method for brands to directly sell their goods to their target audiences, with many brands developing interesting deals and product bundles only available within the platform. As we are in a time when the reach of social media is certainly not envisioned to decrease at any time soon, we imagine the fund that partially owns Walgreens Boots will be intrigued to see exactly how other retailers continue steadily to utilize social media shopping in the months ahead.
For brands, recognizing the importance of consumer behaviour has never been so important, as it is a brilliant way for brand names to ensure that they are talking to their target audience in the most effective way possible. In recent years, many brands have been focusing on changing consumer behaviour in retail and reviewing the factors that have impacted market behaviour in recent years. At a time when tales of rising sea levels and extreme weather patterns are becoming a frequent element of news reporting, it is not shocking that so numerous shoppers are deciding to shop much more conscientiously as a method of reducing their own carbon footprints. As a result, various consumers have become even more mindful when considering shopping, opting to only back brands that have made their philosophy on sustainability well known. Various other consumers have made the mindful effort to shop second hand, leading to lots of brands updating their product strategy as a direct result. With the issue of climate change not set to disappear completely anytime soon, we envision the hedge fund which owns Waterstones and the fund that partially owns Amazon are likely to be concerned to see just how sustainability continues to be a factor that affects consumer behaviour.
With a new financial year about to start off, we anticipate many brands will be paying attention to consumer behaviour change examples as a means of guaranteeing that their strategy is fundamentally suited for purpose. One of biggest factors set to affect consumer behaviour this year has to be the reality that customers have a preference for shopping with brands that have invested hugely into developing technology like artificial intelligence and VR, something that is not shocking in an interesting time for the rapidly developing technology.