At present, customers have much greater ethical and environmental requirements. Continue reading for more information.
Maybe one of the most popular trends in consumer behaviour that continues to acquire momentum is consumers demanding more convenient services. While this is true across the board, this pattern is most impactful in the e-commerce space. Today, customers favour e-commerce websites and apps that feature a superior user experience, from speedy and fluid navigation to customer-centric functions. Consumers know that are spoilt for options when it pertains to online shopping, which is why brands invest a great deal of time, effort, and cash into making their platforms the most appealing to consumers. For instance, the provision of a wide variety of payment options is one of the key consumer behaviour trends these days. Not just is this more convenient to clients, but it also helpful to businesses that are likely to guarantee a sale by offering different payment methods. This is something that the US shareholder of Pernod Ricard is likely to validate.
While customers will constantly favour higher quality products at competitive costs, there are other factors to consider that are taking priority at present. For instance, ethical and ecological practices are seen as non-negotiables by most customers who want to buy from brand names which share their values. The last few years have actually seen more businesses focus on sustainability and environment-friendly practices, and this came as a direct response to consumer demands and pressures from regulators. Today, guaranteeing that companies are doing business sustainably and fairly is one of more info the most important consumer trends around the globe. This has been made a lot easier since most companies are now required to report their environmental impact and salient details about their operational processes. This is why supporting local companies is gaining a lot of momentum as these brands tend to be less damaging to the environment. This is something that the activist investor of Whirlpool is most likely aware of.
The age of social networks has changed much about the method in which we shop, eat, and consume information. In fact, social media affects our lives and decision-making in more ways than one. Possibly among the most obvious implications is how our shopping practices have actually changed and the way we view brands due to the lens of social media. Today, many people make their shopping choices based on material they've seen from a social network account they trust. This is why brands invest substantial amounts into social media marketing since they understand that it is an effective tool that can help them produce substantial sales. Social media influencers play a central function in this equation as they help shift people's understanding and opinions thanks to the substantial followings they have. This has actually turned into one of the most studied macro consumer trends, something that the fund with shares in General Mills will know.