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 influenced market behaviour in 2024.
Like in many different years through out history, there have been various factors that have contributed to consumer behaviour change this year, factors that influence precisely how we as individuals 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, allowing them to comfortably understand that they will be able to make profit in the course of the upcoming economic year. One of the most significant factors to influence consumer behaviour in recent times has to be social media, the internet platforms that have accumulated astounding popularity among both the Gen Z and Millennial audiences in recent decades. In the past several years, a short video sharing platform has become an unbelievably prevalent method for retailers to directly sell their products to their target markets, with many brands creating interesting promotions and product packages only available within the platform. As we are in a time when the reach of social media is not really anticipated to decrease anytime soon, we imagine the fund that partially owns Walgreens Boots will be intrigued to see just how other retail companies continue steadily to take advantage of social media shopping in the several months ahead.
For brands, recognizing the importance of consumer behaviour has never been so essential, as it is a great way for retailers to ensure that they are speaking to their target demographic in the most effective way possible. In recent years, many brands have been paying attention to changing consumer behaviour in retail and analyzing the factors that have impacted consumer behaviour in the last few years. At a time when stories of rising ocean levels and unpredictable weather patterns are becoming a consistent feature of news reporting, it is not shocking that so countless consumers are deciding to shop much more conscientiously as a way of lowering their own carbon footprints. As a result, various consumers have become a great deal more careful with regards to shopping, opting to exclusively endorse companies that have made their philosophy on sustainability well known. Various other consumers have made the conscious effort to shop second hand, resulting in numerous retail companies updating their brand plan of action as a direct result. With the dilemma of global 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 are likely to be intrigued to observe exactly how sustainability continues to be a factor that influences market behaviour.
With a new economic year about to start, we envision numerous brands will be being attentive to consumer behaviour change examples as a way of ensuring that their product strategy is fundamentally suited for purpose. One of biggest factors set to affect consumer behaviour in 2024 has to be the truth 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.