If you wish to learn more about the factors impacting consumer behaviour in 2024, simply read this article.
Like in many other years through out history, there has been countless factors that have resulted in consumer behaviour change in 2024, factors that influence just how we as people act as people. For merchants, understanding how has consumer behaviour changed over the years can be a great way to make sure that their future product lines will be successful with their desired audiences, permitting them to comfortably know that they will have the ability to reach profit during the course of the upcoming fiscal year. One of the greatest factors to affect consumer behaviour in recent times has to be social media, the web platforms that have attained huge popularity amongst both the Millennial and Gen Z audiences in recent decades. In the past several years, a short video sharing website has become an incredibly popular method for retailers to directly sell their items to their target customers, with a few brands creating interesting offers and product packages only available on the platform. As we happen to be in a time when the market reach of social media is not really forecasted to decrease anytime soon, we imagine the fund that partially owns Walgreens Boots will be fascinated to see how other retail companies 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 great way for brands to make sure that they are speaking to their target market in the most efficient way possible. In recent years, many brand names have been paying attention to changing consumer behaviour in retail and looking over the factors that have affected consumer behaviour in recent times. At a time when stories of rising sea levels and extreme weather patterns are becoming a consistent feature of news reporting, it is not shocking that so lots of shoppers are choosing to shop much more conscientiously as a method of reducing their own carbon footprints. As a result, some consumers have become even more mindful when considering shopping, opting to only support companies that have made their philosophy on sustainability well known. Some other consumers have made the mindful effort to shop second hand, leading to many retail companies updating their brand plan of action as a direct result. With the issue of global climate change not set to disappear anytime soon, we think the hedge fund which owns Waterstones and the fund that partially owns Amazon are likely to be intrigued to observe just how sustainability continues to be a factor that impacts consumer behaviour.
With a new financial year about to start off, we anticipate many brands will be paying attention to consumer behaviour change examples as a means of ensuring that their strategy is fundamentally suited for purpose. One of biggest factors set to impact consumer behaviour in 2024 has to be the reality that customers have a preference for shopping with companies that have invested hugely into developing technological innovations like AI and virtual reality, something that is unsurprising in an exciting time for the new rapidly developing technologies.