Exploring consumer behaviour 2024 nowadays

Exploring consumer behaviour 2024 nowadays

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The next few paragraphs goes through some of the factors impacting market behaviour this year.

Just like in many some other years throughout history, there have been many factors that have resulted in consumer behaviour change this year, factors that affect exactly how we as individuals act as consumers. For merchants, exploring how has consumer behaviour changed over the years can be a great way to ensure that their future products will be successful with their target audiences, enabling them to conveniently know that they will be able to reach profit in the course of the approaching financial year. One of the biggest factors to influence consumer behaviour in recent years has to be social media, the online platforms that have accumulated massive popularity among both Gen Z and Millennial audiences in recent times. In the past few years, a short video sharing platform has become an exceedingly prevalent way for retail companies to directly sell their merchandise to their target audiences, with certain brands creating exciting promotions and product bundles only available within the platform. As we are in a time when the reach of social media is definitely not envisioned to go down at any time soon, we imagine the fund that partially owns Walgreens Boots will be intrigued to see exactly how other retailers continue steadily to make full use of social media shopping in the many months ahead.

For brands, acknowledging the importance of consumer behaviour has never been so important, as it is a fantastic way for retailers to assure that they are communicating to their target demographic in the most efficient way possible. In recent years, many companies have been being attentive to changing consumer behaviour in retail and investigating the factors that have influenced behaviour in the last few years. At a moment of time when stories of rising ocean levels and inclement weather patterns are coming to be a regular part of current affairs, it is unsurprising that so various consumers are choosing to shop a lot more responsibly as a way of decreasing their own carbon footprints. As a result, many consumers have become a great deal more cautious in terms of shopping, choosing to exclusively endorse brand names that have made their ethos on sustainability extensively known. Various other consumers have made the conscious effort to shop second hand, leading to numerous brands updating their product strategy as a result. With the dilemma of climate change not set to disappear completely any time in the future, we anticipate the hedge fund which owns Waterstones and the fund that partially owns Amazon will be interested to witness exactly how sustainability remains a factor that effects market behaviour.

With a new economic year about to begin, we envision many brands will be being attentive to consumer behaviour change examples as a method of guaranteeing that their strategy is ultimately fit for purpose. One of greatest factors set to influence consumer behaviour this year has to be the truth that customers prefer shopping with retailers that have invested hugely into developing technology like artificial intelligence and VR, something that is not shocking in an interesting time for the rapidly developing technology.