Investigating factors impacting UK consumer market now
Investigating factors impacting UK consumer market now
Blog Article
Listed here are a few of the different factors that have impacted consumer behaviour in the last few years.
Like in many different times throughout history, there have been various factors that have resulted in consumer behaviour change in 2024, factors that impact how we as people act as customers. For retailers, exploring how has consumer behaviour changed over the years can be a very good way to ensure that their future products will be successful with their desired audiences, permitting them to comfortably understand that they will have the ability to to make profit in the course of the forthcoming economic year. One of the biggest factors to affect consumer behaviour in recent years has to be social media, the web platforms that have attained huge popularity amongst both the Gen Z and Millennial 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 a few brands creating exciting offers and product packages only available on the platform. As we happen to be in a time when the power of social media is definitely not anticipated to go down at any time soon, we imagine the fund that partially owns Walgreens Boots will be interested to see exactly how other retailers continue steadily to make full 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 great way for brands to make sure that they are speaking to their target market in the most efficient way possible. In recent years, many brand names have been paying attention to changing consumer behaviour in retail and assessing the factors that have impacted market behaviour in recent years. At a moment of time when tales of rising sea levels and unpredictable weather patterns are coming to be a regular part of current affairs, it is unsurprising that so countless shoppers are choosing to shop a lot more conscientiously as a way of decreasing their own carbon footprints. As a result, some consumers have become even more mindful when considering 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, resulting in numerous retailers updating their product plan of action as a result. With the dilemma of climate change not set to disappear completely any time in the future, we anticipate 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 impacts consumer behaviour.
With a new financial year about to start off, we anticipate numerous brands will be paying attention to consumer behaviour change examples as a way of ensuring that their product strategy is ultimately suited for purpose. One of most important 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 rapidly developing technology.