5 Consumer Trends Brands Should Consider
Brands have a responsibility to anticipate the frantic changes of consumers who are always looking for something new.
Consumer trends are the compass that sets the pace for brands.
We tell you more about consumer trends and how they’re affecting brands in a report that breaks down the brands that will become key spenders in the coming years.
1. Dominant thought “I”
64% of Generation Z youth are convinced that consumers have put the interests of society above their own interests in recent years. They believe they have lost two years of their lives to the coronavirus pandemic. To that end, and to make up for lost time, consumers will eagerly embrace a new wave of activity in the coming years that demands personalized products and services from brands.
2. Empower the people
Consumers want to be able to take a more active role and want to work with brands to change lighting. For example, consumers believe that direct-to-consumer companies have a much better relationship with their customers than traditional companies, while consumers perceive influencer marketing as particularly customer-oriented.
So it seems obvious that brands that are inexorably compelled to listen, respond, and innovate should strive to create models where consumers can actively help drive change.
3. The great exhaustion
Consumers associate one crisis after another. Pandemics, the war in Ukraine, the energy crisis and climate change have taken their toll. Also, consumers feel tired and overwhelmed.
With the crisis coming from all directions, consumers want to focus on what really matters and are showing increased interest in philanthropic initiatives and community-focused projects. Consumers want to regain control of their lives and look to brands for support.
4.Change from global to local
In an environment burdened by global uncertainty, consumers are once again turning to local sources. Growing consumer engagement with local businesses is a holdover from the pandemic, but also proof that their behavior has changed over the long term.
By purchasing regional products, consumers protect themselves economically, ecologically and psychologically, while also feeling that they are giving back to the communities in which they live.
5. Conscious consumption
In today’s challenging economic climate, consumers want to make informed financial decisions without compromising their quality of life. For this reason, factors such as flexibility, durability and sustainability are becoming increasingly important in terms of consumer value.
People don’t just want to buy less, they want more durable and timeless items that can be used in multiple situations.
