3 Trends Disrupting Consumer Behavior
Staying up to date with consumer trends is critical for remaining competitive. After all, consumers are the ones who purchase goods and services. So, being able to cater to their needs and preferences is extremely important for success.
There are currently a number of trends that are disrupting consumer behavior and changing retailing today. Here are some of the top trends that are disrupting consumer behavior. Understanding these trends can help your retail business keep up with the times.
1. Omnichannel purchasing
Ever since the invention of smartphones and tablets, the way that shopping is done has been changing. Shoppers have stopped only shopping at brick and mortar retail stores. Now they shop across multiple channels. Smartphones, tablets, lap tops, and desktop computers are all used very frequently to make purchases. In fact, mobile purchasing now represents roughly 30 % of all E-commerce sales.
So, essentially, consumers are increasingly using more than one channel to make purchases. That means that it is becoming more and more important for retail businesses to be optimized for multiple channels.
As technology has continued to develop, the ability to personalize products has gone up significantly. Consumers like personalization, and it is becoming an important trend that is disrupting normal consumer behavior.
For example, Netflix and Amazon can recommend TV shows or products for you, specifically, based on your purchase history, Facebook retargeting allows companies to market specifically to people who have demonstrated interest in their business, wearable technology devices keep track of personal fitness and health information, etc. There are many ways that personalization is becoming more important in the retail world today. Companies who can keep up with this trend are likely to benefit from doing so.
More and more devices are starting to be able to connect to the internet. For example, fitness devices, watches, and even snowboard goggles can now be connected to the internet. With the Apple Home app, people will even be able to control household items, such as lamps, and heaters, through the internet with their smart phones.
Essentially, connectivity for a wide range of devices is becoming more and more popular. This trend is likely to continue well into the future as internet connection is something that is highly prioritized by many consumers. So, taking advantage of this trend could be a wise move for many companies.