A few global consumer trends poised to shape industries

A few global consumer trends poised to shape industries

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At present, customers have much higher ethical and environmental standards. Continue reading to get more information.

Perhaps among the most popular trends in consumer behaviour that continues to acquire momentum is consumers demanding more convenient options. While this is true across the board, this trend is most impactful in the e-commerce space. Today, customers favour e-commerce sites and apps that feature a remarkable user experience, from rapid and fluid navigation to customer-centric functions. Customers know that are spoilt for options when it comes to online shopping, which is why brands invest a lot of time, effort, and money into making their platforms the most appealing to customers. For example, the provision of a large range of payment options is among the key consumer behaviour trends these days. Not only is this more convenient to customers, however it also helpful to companies that are likely to guarantee a sale by providing different 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 factors to consider that are taking priority at present. For example, ethical and environmental practices are seen as non-negotiables by the majority of customers who wish to purchase from brand names which share their values. The last couple of years have actually seen more companies concentrate on sustainability and environment-friendly practices, and this came as a direct response to consumer demands and pressures from regulators. Today, ensuring that companies are operating sustainably and fairly is one of the most important consumer trends worldwide. This has actually been made a lot easier considering that many companies are now required to report their environmental impact and significant details about their functional procedures. This is why supporting regional companies is getting a good deal of momentum as these brands tend to be less harmful 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. Perhaps among the most apparent implications is how our shopping routines have changed and the way we perceive brand names due to the lens of social media. Today, many individuals make their shopping decisions based on material they have actually seen from a social media account they trust. This is why brand names invest considerable 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 main role in this equation as they help move individuals's perception and opinions thanks to the huge followings they have. This has actually become one of the here most studied macro consumer trends, something that the fund with shares in General Mills will know.

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