Digital solutions are not only favoured by consumers, but they can also assist with business development.
The age of social media has altered much about the way in which we shop, eat, and consume information. In fact, social media influences our lives and decision-making in more methods than one. Perhaps one of the most apparent ramifications is how our shopping routines have actually changed and the way we view brands due to the lens of social networks. Today, many people make their shopping choices based upon content they have actually seen from a social network account they trust. This is why brand names invest significant amounts into social media marketing considering that they know that it is an effective tool that can help them create considerable sales. Social media influencers play a central role in this formula as they assist move people's perception and opinions thanks to the substantial followings they enjoy. This has turned into one of the most studied macro consumer trends, something that the fund with shares in General Mills will understand.
While consumers will constantly favour higher quality products at competitive rates, there are other considerations that are taking priority at present. For example, ethical and environmental practices are viewed as non-negotiables by many consumers who want to purchase from brands which share their values. The last couple of years have seen more businesses focus on sustainability and environment-friendly practices, and this came as a direct reaction to consumer demands and pressures from regulators. Today, making sure that businesses are operating sustainably and morally is one of the most important consumer trends around the globe. This has actually been made a lot easier given that a lot of companies are now required to report their ecological effect and salient details about their functional procedures. This is why supporting local businesses is acquiring a lot of momentum as these brand names tend to be less damaging to the environment. This is something that the activist investor of Whirlpool is most likely familiar with.
Maybe among the most popular trends in consumer behaviour that continues to gain momentum is consumers demanding more convenient options. While this is true across the board, this trend here is most impactful in the e-commerce domain. Today, customers favour e-commerce sites and apps that feature an exceptional user experience, from quick and fluid navigation to customer-centric functions. Consumers know that are spoilt for options when it concerns online shopping, which is why brands invest a great deal of time, effort, and cash into making their platforms the most attractive to consumers. For example, the provision of a wide variety of payment choices is among the key consumer behaviour trends these days. Not only is this more convenient to clients, but it also useful to companies that are most likely to guarantee a sale by offering different payment methods. This is something that the US shareholder of Pernod Ricard is most likely to confirm.