Investigating factors impacting UK consumer market now
Investigating factors impacting UK consumer market now
Blog Article
We are actually planning on investing a bit of time exploring the factors that have impacted market behaviour this year.
Like in many different times through out history, there's been lots of factors that have contributed to consumer behaviour change in 2024, factors that effect exactly how we as individuals act as consumers. For merchants, exploring how has consumer behaviour changed over the years can be a very good way to guarantee that their upcoming products will be prosperous with their target audiences, allowing them to conveniently 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 influence consumer behaviour recently has to be social media, the internet platforms that have achieved tremendous popularity amongst both the Gen Z and Millennial audiences in recent decades. In the past several years, a short video sharing website has become an unbelievably popular method for brands to directly sell their goods to their target audiences, with certain brands developing exciting deals and product bundles only available within the platform. As we are in a time when the reach 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 fascinated to see just how other brands continue to make the most of social media shopping in the several months ahead.
For retailers, acknowledging the importance of consumer behaviour has never been so vital, as it is a fantastic way for retailers to assure that they are speaking to their target demographic in the most efficient way possible. In recent years, many companies have been taking note of changing consumer behaviour in retail and investigating the factors that have influenced market behaviour in recent years. At a moment of time when tales of rising sea levels and unpredictable weather patterns are becoming a frequent element of news reporting, it is not shocking that so many consumers are deciding to shop much more responsibly as a method of reducing their own carbon footprints. As a result, countless consumers have come to be a lot 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, leading to many retail companies updating their brand strategy as a direct result. With the dilemma of global climate change not set to disappear any time in the future, we anticipate the hedge fund which owns Waterstones and the fund that partially owns Amazon will probably be interested to witness how sustainability remains a factor that effects market behaviour.
With a new financial year about to start, we think 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 this year has to be the reality that customers prefer shopping with brands that have invested hugely into developing technology like AI and VR, something that is not shocking in an interesting time for the rapidly developing technology.