Some global consumer trends poised to shape industries

Some global consumer trends poised to shape industries

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Social media plays a big function in the way people view brand names. Here's all you need to know.

Possibly among the most popular trends in consumer behaviour that continues to acquire momentum is consumers demanding more convenient solutions. While this is true across the board, this trend is most impactful in the e-commerce space. Today, consumers favour e-commerce sites and apps that feature a remarkable user experience, from fast and fluid navigation to customer-centric functions. Customers understand that are spoilt for options when it comes to online shopping, which is why brands invest a lot of time, effort, and cash into making their platforms the most attractive to customers. For example, the provision of a vast array of payment choices is among the key consumer behaviour trends nowadays. Not only is this more convenient to customers, however it also valuable to companies that are likely to guarantee a sale by offering various payment methods. This is something that the US shareholder of Pernod Ricard is likely to confirm.

While consumers will always favour higher quality products . at competitive prices, there are other considerations that are taking top priority at present. For instance, ethical and ecological practices are seen as non-negotiables by a lot of consumers who want to buy from brand names which share their values. The last couple of years have seen more businesses focus on sustainability and environmentally friendly practices, and this came as a direct reaction to consumer demands and pressures from regulators. Today, ensuring that companies are operating sustainably and morally is among the most important consumer trends all over the world. This has actually been made a lot easier because most businesses are now required to report their environmental impact and salient info about their functional processes. This is why supporting regional businesses is gaining a good deal 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 go shopping, eat, and consume information. In fact, social media influences our lives and decision-making in more ways than one. Perhaps among the most obvious ramifications is how our shopping habits have changed and the way we view brands due to the lens of social networks. Today, many individuals make their shopping choices based on material they have actually seen from a social media account they trust. This is why brand names invest substantial sums into social media marketing because they know that it is a powerful tool that can help them generate significant sales. Social media influencers play a central function in this equation as they help shift people's perception and opinions thanks to the huge followings they enjoy. This has become one of the most studied macro consumer trends, something that the fund with shares in General Mills will know.

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