Exploring consumer behaviour 2024 today
Exploring consumer behaviour 2024 today
Blog Article
We are actually going to be spending some time exploring the factors that have impacted consumer behaviour in 2024.
Just like in many some other years throughout history, there has been various factors that have resulted in consumer behaviour change this year, 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 ensure that their future product lines will be successful with their desired audiences, enabling them to comfortably 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 times has to be social media, the online platforms that have accumulated great popularity amongst both 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 consumers, with many brands developing interesting deals and product packages only available within the platform. As we are in a time when the huge 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 retail companies continue steadily to make full use of social media shopping in the many months ahead.
For brands, acknowledging the importance of consumer behaviour has never been so important, as it is a fantastic way for retailers to assure that they are communicating to their target audience in the most effective way possible. In recent years, many brands have been being attentive to changing consumer behaviour in retail and analyzing the factors that have influenced market behaviour in the last few years. At a moment of time when tales of rising sea levels and unpredictable weather patterns are becoming a frequent element of news reporting, it is not shocking that so many 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 with regards to shopping, opting to only back brands that have made their ethos on sustainability extensively known. Various other consumers have made the conscious effort to shop second hand, leading to lots of brands updating their product strategy as a result. With the dilemma of climate change not set to disappear completely any time soon, we imagine the hedge fund which owns Waterstones and the fund that partially owns Amazon will probably be interested to witness just how sustainability continues to be a factor that impacts consumer behaviour.
With a new financial year about to start off, we imagine many brands will be paying attention to consumer behaviour change examples as a means of guaranteeing that their strategy is ultimately fit for purpose. One of greatest factors set to influence 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 unsurprising in an exciting time for the new rapidly developing technologies.