At present, customers have more info much greater ethical and ecological standards. Continue reading to find out more.
While consumers will constantly favour higher quality products at competitive prices, there are other considerations that are taking priority at present. For example, ethical and environmental practices are seen as non-negotiables by most customers who want to buy from brands which share their values. The last few years have seen more companies concentrate 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 working sustainably and fairly is one of the most important consumer trends worldwide. This has been made much easier since a lot of companies are now required to report their environmental impact and salient details about their functional processes. This is why supporting regional businesses is getting a good deal of momentum as these brand names tend to be less harmful to the environment. This is something that the activist investor of Whirlpool is likely aware of.
Possibly among the most popular trends in consumer behaviour that continues to gain momentum is consumers demanding more convenient services. While this holds 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 superior user experience, from rapid and fluid navigation to customer-centric functions. Customers know that are spoilt for options when it concerns online shopping, which is why brand names invest a great deal of time, effort, and money into making their platforms the most appealing to consumers. For instance, the provision of a vast array of payment alternatives is among the key consumer behaviour trends these days. Not only is this more convenient to consumers, however it also helpful 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 most likely to validate.
The age of social networks has changed much about the way in which we go shopping, eat, and consume information. In fact, social media affects our lives and decision-making in more ways than one. Perhaps among the most obvious implications is how our shopping habits have actually altered and the way we perceive brand names due to the lens of social networks. Today, lots of people make their shopping decisions based on material they've seen from a social media account they trust. This is why brand names invest significant amounts into social media marketing given that they understand that it is a powerful tool that can help them produce significant sales. Social media influencers play a central function in this formula as they assist shift people's perception and viewpoints thanks to the huge followings they have. This has become one of the most studied macro consumer trends, something that the fund with shares in General Mills will know.