In this article, we’ll fill you in on some of the most current trends, and importantly, how your brand can take advantage. According to World Bank Data, 9 out of every 10 students in the world has had their schooling negatively impacted by Covid-19. 27% of online consumers worldwide intend to research more items before shopping physically in a store, especially in Latin America where 36% consumers said they would now browse online more before heading to physical stores (source: Global Web Index). The alcohol brand has gone beyond their traditional offering, partnering with 6 famous writers to produce audio stories inspired by summers before the pandemic. According to Vox, more millennials work in the industries most hit by the coronavirus pandemic. The rise on app usage and personalisation services has allowed consumers to create ways to research and buy things that are unique for them so that they can be more self-sufficient. Â, Although the coronavirus crisis has been a time of extreme isolation, it has actually brought communities around the globe together. Consumers are choosing simplicity in everything, even when it comes to making day-to-day decisions. Sites such as Amazon have intensified this trend to the extent in which consumers are reluctant to buy anything without consulting product reviews online. However, brands must be careful when approaching the topic of mental health. In fact, 53% of mobile visits are abandoned if a site takes longer than 3 seconds to load (source: Think with Google). So, brands should look at developing Progressive Web Apps (PWAS), a website that acts and feels like a regular native app. Research from Shekel shows that 87% of US shoppers would now rather shop in stores with touchless self-checkout capabilities. Â, But it’s not just about the short-term impact of contracting Covid-19. However, the desire for sustainability operates beyond traditional demographics, and should be something recognised by all brands.Â. The EY Future Consumer Index tracks changing consumer sentiment and behaviors across time horizons and global markets, identifying the new consumer segments that are emerging. Based on the same study of 14,000 consumers 62% of consumers will pay more for a simple experience, whether is a simpler product or service or a simpler customer journey to get that desired item. Consumers are now actively engaged in services that improve everyday life, which is becoming a form of self-care together with engaging to a more ethical consumerism. Users can learn how to cook street tacos in Mexico, master the art of origami in Japan, spend an evening with a Flamenco musician in Spain… all from the comfort and safety of their own home. See key findings here and download the free full report for detailed insights. Indeed, research from Global Web Index shows that 49% of respondents are planning to enjoy domestic vacations in the coming year. So, for many brands, providing more helpful services or products which will allow customers to lead healthy lives is key. As a result, we set 5 trends for consumer behavior by 2019. See the ad below.   Spending on goods increased by 46.9%. So, the brands that can create quick and easy e-commerce experiences are set to win. So, what are the current trends in consumer behaviour across the globe? Brands should take into account their customers’ mental health, and aim to do what they can to support them. If you continue to use this site we will assume that you are happy with it. Today the markets are influenced by a number of variables and technology is one of the biggest indicators that influences how we research, buy and interact with brands and one another. Wearable fitness and health devices combined with advanced biometric technology are also developing this new way of looking after oneself. Consumers are now actively engaged in services that improve everyday life, which is becoming a form of self-care together with engaging to a more ethical consumerism. However, the world has changed dramatically since then. The consumer itself is demanding the highest self-improvement rates from brands, by wanting them to reinvent themselves in all aspects, which is driven by consumer voices, who now have a lot more to say and state, thanks to user-driven two-way communication. Data privacy Mindful of a raft of new regulations — … As a result, they’re struggling to commit to their purchases, especially if there’s an element of risk involved. With life that is becoming more overwhelmed with things to do these days, consumers are choosing simplicity over materialism, even if this would mean getting what they want from the other side of the world. Visual search is also an exciting e-commerce feature not to be overlooked. Brands should aim to support small, local businesses and make themselves part of the community. However, the world has changed dramatically since then. We’ve put together 8 current trends in consumer behaviour that we think global marketers like you need to know, to help you plan your marketing strategy for the rest of 2020 and beyond.Â, Perhaps unsurprisingly, consumers are far more health conscious than before. During the height of global lockdown, they introduced a mental wellbeing tool on Snapchat aimed at delivering relevant content, including videos created by experts. We tend to think that providing more choice is better but the truth is that, in this hyper-hectic life, providing too many choices is making it more challenging for consumers. 1 - Customization becoming a priority Consumers increasingly expect brands to provide them with experiences tailored to their individual needs and desires. Lancôme claims its PWA led to a 36% increase in mobile revenue last year.Â, For more on shoppable features, visual search and PWAs, make sure to, download our report, 2020 Trends: Marketing Trends with a Global Reach, Indeed, research from Global Web Index shows that 49% of respondents are planning to enjoy domestic vacations in the coming year. Friends can now revise together on Snapchat by making flashcards in the Tembo Mini, making learning a social and virtual experience. For Gen Z, the issue of disrupted schooling is a major factor for their anxiety. As climate change has become the hottest topic in the past two years, consumers across the world are finding ways to make positive decisions about what to buy that can reduce the negative impact that our buying choices are having on the world.  Consumers are realising that being mindful of others, animals and the environment means having the power in their hands to minimise environmental disasters. This approach has embraced mindfulness, gaining momentum in a healthier and ethical living trend that’s shaping everyday consumers choices. This quarterly study of 1,000 U.S. consumers explores changing behaviors and preferences, with a focus on the 2020 elections and holiday season. 30% say they’ll travel locally and 28% aren’t planning a getaway at all. By this brief description, it’s clear that who controls the balance of the power today is the consumer, and decides what, where and when.Â, Here are 5 consumer trends that will have the most impact on consumer spending and on businesses:Â, Consumers are looking for authentic products and experiences favouring simple products that are differentiated by better quality. However, it’s not just about students brushing up on their times tables. Interview With Daniel Araya. What's New. For social media channels and shoppable platforms, it means helping users to find sustainable products. Brands can also look into the latest touchless technology to help customers feel safe while shopping in physical stores or when taking part in interactive experiences. For example, language learning app downloads surged during the height of Covid-19. May 16, 2020. The same immediate accessibility is also required in communication, information and availability of products and services. Equally, a Covid-19 survey from McKinsey & Company revealed that ¾ of respondents in China want to want to eat more healthily after the crisis. Brands need to show they care for the planet, but, more importantly, they need to act like they care too. Siegel+Gale’s 2017 Global Brand Simplicity Index, DELIVERING A DATA-DRIVEN CUSTOMER EXPERIENCE, How Disruptive Innovation Is Threatening The Energy And Retail Sector? The same immediate accessibility is also required in communication, information and availability of products and services. The aim of Mini’s is to also make other experiences, like meditation or shopping, social too. According to Accenture, health ranked as consumers’ top priority right now. Brands can also use VR to allow customers to explore new places and discover new cultures. US consumer-segment behavior varies significantly across the next-normal trends. For example, to celebrate Earth Day, Pinterest added products from small to medium-sized sustainable brands onto Pinterest Shop so that customers could locate them easily. Empowered by social media and mobile devices consumers now have the power to choose for themselves dictating when, where and how they engage with brands. Research by Global Web Index reveals that 1 in 5 internet users across 20 markets will be looking for more flexible payments options in the coming months. We use cookies to ensure that we give you the best experience on our website. Introduction to Consumer Behaviour. For social media channels and shoppable platforms, it means helping users to find sustainable products. McKinsey & Company revealed that ¾ of respondents in China want to want to eat more healthily after the crisis. The way people think, feel and, of course, shop has been greatly impacted, and their behaviours will be markedly different for months to come. 30% say they’ll travel locally and 28% aren’t planning a getaway at all. Businesses should start co-create using crowd-sourced ideas and engaging in conversations with active followers. In the past, consumer behaviour was dictated mostly by differences in cultural and socio-economic factors. The ad linked to Timberland’s Responsibility page, detailing the brands progress towards sustainability, their 2020 targets and their actions. Museums around the world, including the British Museum, the Louvre and the Guggenheim, have opened up their galleries with virtual reality tours. For example, Cathay Pacific are urging people to fly worry free with them, allowing them to change flights for an unlimited number of times.Â. Hackers Consumer markets CEOs continue to worry about the growing sophistication of cyber threats and the shortage of highly skilled talent to combat them. To mention a very significant event correlated with the latter variable, it was in 2007 and more specifically the launch of the iPhone, when Amazon was mostly known as an online bookshop. We tend to think that providing more choice is better but the truth is that, in this hyper-hectic life, providing too many choices is making it more challenging for consumers. Each episode is released on YouTube on a Friday evening and is followed with a live Q&A following each new episode. Brands can take inspiration from Microsoft’s new global skills initiative aimed at helping workers learn new digital skills vital for a post Covid-19 world. In fact, according to research from design consultancy Siegel+Gale’s 2017 Global Brand Simplicity Index, brands that provide simple and fewer choices tend to increase revenue, brand advocacy and engagement. According to Gartner, increased time working online is very likely as 74% of companies plan to permanently move towards remote working after the crisis.Â, And it’s not just work. Key opportunities, trends, and challenges This little box has completely revolutionised our buying behaviour. Read our Covid-19 statement. The advent of social media has spread veganism in consumers’ minds, not only in their diet choices but also in their pharma, beauty and personal care products. WhatsApp are also excelling at this in their new campaign ‘It’s Between Us’. In fact, 53% of mobile visits are abandoned if a site takes longer than 3 seconds to load (source: Think with Google).Â, So, brands should look at developing Progressive Web Apps (PWAS), a, website that acts and feels like a regular native app. The most cited articles in the field and within each journal are also examined. These companies will be able to employ resources such as 5G technology, artificial intelligence and the internet of things to help consumers save time, money and be more self-sufficient.Â, The Amazon effect has risen the bar when it comes to extraordinary customer service but also when it comes to delivering what consumers want and as fast as possible. As more and more people across all generations became tired of Netflix repeats, they turned to learning during lockdown. To mention a very significant event correlated with the latter variable, it was in 2007 and more specifically the launch of the iPhone, when Amazon was mostly known as an online bookshop. Choosing clothes that are leather- and fur-free and plastic-free products are now becoming the norm for most consumers. By submitting this form, you agree that we may use the data you provide to contact you with information related to your request/submission. Byju released free live classes on their app, Think and Learn, leading to a 200% increase in uptake from students (source: The Print). Rather than being seduced by brands, pre-purchase consumers seek advice from peers and strangers online on how to get the best product for their money, switching from social media to price comparison websites, meaning that one source of information is no longer enough.Â. The consumer, The KING of the market is the one that dominates the market and the market trends.Lets us know the King first. From what consumers expect of brands, to what a customer journey looks like. Businesses and more specifically retailers are experiencing complete chaos in a moment of behavioural transformation where customer expectations are changing faster than businesses can react. So, brands must consider adopting new technologies when to help customers feel safe in future. The video closed with a promise from humanity to make a difference to the environment once for all. In 2017, all eyes were on the modern customer – what the customer wants, when they want it, and how they want it. However, it’s not just about students brushing up on their times tables. Brandwatch data reveals some of the biggest consumer trends for the auto industry as we head into 2020. Users also get a 30 day free trial for Headspace Pro.Â. We have identified five customer segments driven by optimism, health, and financial concerns, each of relatively similar size. In an effort to help you navigate this rocky terrain, GroundTruth is once again using our knowledge, experience, and data to compile and share six consumer trends we’re likely to see in 2020 (hint: mobile, personalization, and the in-store customer experience trends … Equally, in the US 61% of Boomers revealed they were using delivery services more than before the pandemic (source: National Retail Federation). Timberland also got active on this year’s Earth Day, releasing their ‘Caring is no longer enough’ ad, as part of their ‘Nature Needs Heroes’ campaigns. Wearable fitness and health devices combined with advanced biometric technology are also developing this new way of looking after oneself. This little box has completely revolutionised our buying behaviour. Brands need to show they care for the planet, but, more importantly, they need to act like they care too. Discover what can be learned from 8,000 global survey responses and thousands of social posts. Research from Marketplace revealed that consumers appreciated being able to see the finer details up close and hear about where the products were made.Â. Only 9% of people are planning on travelling long-haul. We help brands thrive, everywhere. As climate change has become the hottest topic in the past two years, consumers across the world are finding ways to make positive decisions about what to buy that can reduce the negative impact that our buying choices are having on the world.Â, Consumers are realising that being mindful of others, animals and the environment means having the power in their hands to minimise environmental disasters.Â, This approach has embraced mindfulness, gaining momentum in a healthier and ethical living trend that’s shaping everyday consumers choices. For example, language learning app downloads surged during the height of Covid-19. The growing high-speed internet is driving these interactive solutions and facilitating the usage, allowing them to become faster and more sophisticated in their response. There are many ways that brands can do this. In fact, according to research by Accenture, a new sentiment among consumers is “If I can do it online, I will”.Â, This is especially true for modern working and learning, where virtual will become the new normal in many parts of the world. Nationwide lockdowns have taught people to appreciate the value of those around them, leading to a more selfless way of thinking. And it’s not just American Boomers –  a survey from Global Web Index revealed that 46% of internet users worldwide intend to shop more online after this virus outbreak. Many consumers are now more sceptical about the ability of big brands to keep their promises ending up trusting more their peers, consumer reviews and independent experts than brand marketing. 2020 will be a big year for the auto industry, not least because of increasing anxiety around climate change and the disruption Brexit could cause. Download the report We hope this quick guide to the 8 current trends in consumer behaviour across the globe will help with your marketing strategy in the coming months. But, with posts about green-washing circulating on social media, brands must be sincere in their promises. As more and more people across all generations became tired of Netflix repeats, they turned to learning during lockdown. Consumers are now looking for frictionless experiences that blend with their hectic lifestyle, allowing them to dedicate more time to their private life. Consumer Spending Statistics and Current Trends ... so businesses that monitor them can better predict consumer behavior. For Gen X, worrying about the health of their parents and the situation their children face is a huge burden. You can unsubscribe from The Smarter Crew marketing emails at any time by clicking the unsubscribe link in the email. Consumer attitudes and interests are changing just as rapidly. Shopstreaming allows consumers to buy products directly from a live video. Minis are essentially mini versions of apps that work within the Snapchat platform. PWAs improve user experience with fast load times and easy navigation. Post-purchase consumers instead are not only influencing others on what to buy but are also wanting to get involved in product development. On an annualized basis, that's a 40.6% increase from the second quarter, according to the BEA. And it’s not just work. With the pressure of worrying about our physical health and the health of those around us, the coronavirus pandemic has taken its toll on the world’s mental health. Only 9% of people are planning on travelling long-haul. Insights from Foresight Factory reveal that people are concerned with becoming more resilient, so that they don’t have to rely on the state or healthcare systems for support. According to We Forum, on the first day of the 618 Grand Promotion in June, JD Super (the supermarket linked to China’s e-commerce company JD) achieved 140% more online sales, compared with the same promotional day last year.Â. For many B2B and tech brands, it’ll be about helping companies and their workforce get the most from remote working. We have been seeing this approach especially in solutions such as nutrition, alternative health therapies and fitness which offer consumers a much-needed personalised concept. 3 in 4 respondents are looking to companies, expecting them to do more in terms of sustainability.Â, Research shows that it is Gen Z who are leading the charge when it comes to environmental action. For example, to celebrate Earth Day, Pinterest added products from small to medium-sized sustainable brands onto Pinterest Shop so that customers could locate them easily. Consumer Behaviour discipline mainly deals with buying decision, and the process leads to this… Get started. This trend of cutting out the middle person is the response to the toxic mode of consumerism that we have been exposed so far. It provides regular longitudinal indicators and a unique perspective on which changes are temporary reactions to the COVID-19 crisis, which point to more fundamental shifts, and what the consumer post COVID-19 … The creative,  based around an open letter to Mother Nature, urged nature to breathe and bloom while humanity remained in lockdown. Over the last few years, we’ve seen new platforms embraced, existing platforms evolve, and the way brands utilize social media change to keep up with consumer preferences. These trends respond to changing consumer values and behaviour which is causing disruption for business globally. Job security and finances are thus causing this generation a huge amount of stress. Like many agencies and ad companies, we released our annual marketing trends report in January. You can unsubscribe from The Smarter Crew marketing emails at any time by clicking the unsubscribe link in the email. To learn more, see The Smarter Crew Terms and Privacy Policy. For more on shoppable features, visual search and PWAs, make sure to download our report, 2020 Trends: Marketing Trends with a Global Reach. Health consciousness has seeped into the national conversation in recent years, and our survey shows that 57% of consumers now spend on health and wellness. They are reconsidering their spending habits by replacing the mass-produced and generic product preference to those that allow them to express their status and personality. Creating campaigns that celebrate community is a sure fire way to resonate with consumers right now. Â, The coronavirus crisis has made people appreciate the ease of digital, with many finding that they no longer feel the need to be physically present for all things. The trends identified for 2020 revolve around two key themes – convenience and personal control. AirBnB is another brand on top of the staycation trend. It includes a ranking of topics published, typology of the published articles, the research classification in terms of methodologies, and analysis techniques. After months of increased hand washing, wearing protective masks and isolating indoors, hygiene will remain at the forefront of everyone’s minds. He also highlighted that ultrasound modulated at a high frequency can alert the senses in people’s hands, emulating the sense of touch. With talk of global recession and further lockdowns, consumers feel nervous about the future and their finances. This includes 46% of consumers who are spending on services such as health checkups, gym memberships, and diet consultations, and 40% of consumers who are spending on healthier food. In the travel industry especially, policies which allow for fully refundable cancellations at the last minute, or which allow people to shift bookings, will help customers feel comfortable when parting with their money.Â, Many companies are already offering this flexibility to their customers. 5 Trends Shaping Consumer Behavior in 2019 A Special Report with Foresight Factory . This strong product review culture is disrupting the traditional funnel-shaped customer journey which is now subject to interruptions, diversions and delays. Insights from Foresight Factory reveal that people are concerned with becoming more resilient, so that they don’t have to rely on the state or healthcare systems for support. Yet, coronavirus has affected the way consumers shop as well in ways that will create long-lasting impacts. SmarterCX.com’s Editor-in-Chief highlights top content from 2017 on the subject of consumer behavior trends. In fact, they are referred to by many as ‘savvy’ consumers which equally translates to very demanding, intolerant, impatient and empowered. This campaign tells real stories about how people in India regularly interact with their closest friends and family on the social platform, highlighting how WhatsApp allows for intimate and important conversations.Â, Coca-Cola’s new global campaign, ‘The Great Meal’ also speaks to the current heightened sense of togetherness felt worldwide. Another great response to this current consumer trend is Snap’s new Minis for Snapchat. Seasonal changes in consumer behavior. The pandemic’s burden on the retail sector has been massive and there has been much discussion rightfully centered around sales and performance. Across the world, online community groups have sprung up offering support to neighbours, whether it be through food and medicine delivery services or through online social interaction. At Placer.ai, we … Brands like Coach turned to livestreaming on Alibaba’s social platform Taobao. The title says it all. And with people unlikely to flock back to crowded gyms, focusing on home workout as part of their marketing strategy is a wise choice.Â. While purchases are currently centered on the most basic needs, people are shopping more consciously, buying local and are embracing digital commerce. As technology has driven us to a society that is more productive, more frenetic and more demanding, consumers are looking to spend more on products and services that save them time and it will be technology itself or more specifically the rise in adoption of apps that will continue to drive this approach that blends with the self-sufficiency. This effect has spoiled consumers to the point that they now expect the same level of service and delivery from every brand out there, no matter the size.Â, By submitting this form, you agree that we may use the data you provide to contact you with information related to your request/submission. O, ver the month of March, new users on the global language learning app Duolingo increased by 101% (source: Duolingo).Â, Equally, in the US 61% of Boomers revealed they were using delivery services more than before the pandemic (source: National Retail Federation). Consumer and retail trends 2020: Managing expectations around trust and data ... 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