We are planning on investing a bit of time going through the factors that have influenced market behaviour this year.
Like in many other times through out history, there's been numerous factors that have contributed to consumer behaviour change this year, factors that affect the way 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 desired audiences, permitting them to comfortably know that they will have the ability to make profit during the forthcoming fiscal year. One of the greatest factors to impact consumer behaviour recently has to be social media, the internet platforms that have gained enormous 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 markets, with some brands developing interesting deals and product bundles only available on the platform. As we are in a time when the huge reach of social media is certainly not expected to decrease anytime soon, we imagine the fund that partially owns Walgreens Boots will be intrigued to see just how other retailers continue steadily to utilize social media shopping in the months ahead.
For brands, recognizing the importance of consumer behaviour has never been so important, as it is a brilliant way for brand names to ensure that they are communicating to their target audience in the most effective way possible. In recent years, many brands have been being attentive to changing consumer behaviour in retail and reviewing the factors that have influenced market behaviour in the last few years. At a moment of time when tales of rising sea levels and unpredictable 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 lowering their own carbon footprints. As a result, numerous consumers have come to be a great deal more cautious in terms of shopping, choosing to exclusively back brands that have made their ethos on sustainability extensively known. Various other consumers have made the conscious effort to shop second hand, leading to lots of brands updating their product strategy as a result. With the dilemma of global climate change not set to disappear any time in the future, we anticipate the hedge fund which owns Waterstones and the fund that partially owns Amazon will be fascinated to observe exactly how sustainability continues to be a factor that influences consumer behaviour.
With a new economic year about to commence, we imagine many brands will be paying attention to consumer behaviour change examples as a means of guaranteeing that their strategy is fundamentally suited for purpose. One of biggest factors set to affect consumer behaviour in 2024 has to be the reality that customers have a preference for shopping with companies that have invested hugely into developing technologies like AI and virtual reality, something that is unsurprising in an exciting time for the new rapidly developing technology.