Consumer behaviour has changed faster and more significantly than ever before. There’s no doubt about that. Brick and mortar stores refer to stores that have a physical presence, where customers can walk in and purchase items. However, this wasn’t possible when the pandemic hit two years ago. The commercial world went online. Both consumers and companies embraced digital life with open arms as demands and lifestyle changes skyrocketed. This has shuffled the previously understood purchasing trends and consumer behaviour.
Now, a while since the imminent thread of the covid pandemic has passed, consumer behaviour still remains changed. And it is necessary to understand the changes in order to run your business successfully. Here are a few ways as to how consumer behaviour has altered, in the past couple of years. Helpful tidbit: to better understand the new consumer behavior and patterns, we suggest installing a free pos systems for a small business.
Consumers continue to spend their well-earned money on new brands with eagerness and curiosity. Modern consumer behaviour and buying preferences are making waves in several industries, especially fashion and fast food. That is to say, they aren’t carelessly dishing out their money rather that their spending pattern has shifted to accommodate trying out new things and experimenting with new and fresh brands. Brands that are offering good deals on their new products are being more welcomed by the customers, as they are willing to embrace new products, which bring in excitement.
To nobody’s surprise, contactless purchasing and delivery have become a global favourite. Not only is it less time-consuming, it is also convenient and helps ease the daily workload in a household. Online shopping saw its peak during the pandemic and it is meeting the needs of customers to date, which is also why it has survived post-pandemic. Non-essential items seem to be the most popular category of items to be purchased online. Among those, clothing and shoes sit at the top, while cosmetics and health products come in second.
Online shopping isn’t going anywhere. However, at the same time running to the nearest store for quick purchases is still very much a regular phenomenon. In fact, they are gaining in popularity again. Customers love options and are more selective when it comes to essential items. Many brands are shifting their focus on rebuilding their physical presence as the online market, although still huge, is beginning to shrink. While online shopping will never completely disappear from our lives, it is safe to say that physical stores are coming back.
Nearly 4 billion people use social media today. Nearly 25% of social media users follow at least one retail brand on social media. Tapping into this potential has raked in billions of dollars of revenue for many brands. What is so special about social media marketing is, it provides direct engagement between the brand and the consumer and it is for retailers at every stage of business.
As a business owner, it is important to keep up with market trends and consumer behaviour patterns. We hope this article helped you understand the current consumer trends a bit more.
