If you'd like to discover more about the factors impacting consumer behaviour this year, simply read this article.
Just like in many some other years through out history, there has been various factors that have resulted in consumer behaviour change in 2024, factors that influence just how we as individuals act as people. For merchants, understanding how has consumer behaviour changed over the years can be a great way to make sure that their future product lines will be successful with their desired audiences, permitting them to comfortably know that they will have the ability to reach profit during the course of the upcoming fiscal year. One of the most significant factors to affect consumer behaviour in recent times has to be social media, the web platforms that have attained astounding popularity amongst both the Millennial and Gen Z audiences in recent decades. In recent years, a short video sharing website has become an unbelievably popular method for brands to directly sell their products to their target customers, with a few brands developing interesting offers and product packages only available on the platform. As we happen to be in a time when the market reach of social media is not really expected to decrease anytime soon, we imagine the fund that partially owns Walgreens Boots will be interested 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 famous brands to make sure that they are speaking 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 last few years. At a moment of time when tales of rising ocean levels and inclement weather patterns are coming to be a regular element of news reporting, it is not shocking that so many shoppers are deciding to shop much more conscientiously as a method of decreasing their own carbon footprints. As a result, some consumers have become even more cautious in terms of shopping, choosing to exclusively endorse brand names that have made their ethos on sustainability extensively known. Other consumers have made the mindful effort to shop second hand, resulting in 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 anticipate the hedge fund which owns Waterstones and the fund that partially owns Amazon will be interested to see how sustainability remains a factor that affects consumer behaviour.
With a new financial year about to start off, we anticipate many brands will be being attentive to consumer behaviour change examples as a method of ensuring that their strategy is fundamentally suited for purpose. One of most significant factors set to influence consumer behaviour this year has to be the truth that customers prefer shopping with retailers that have invested hugely into developing technology like artificial intelligence and VR, something that is not shocking in an exciting time for the new rapidly developing technologies.