If you want to discover more about the factors impacting market behaviour this year, just look at this article.
Just like in many some other years through out history, there has been lots of factors that have contributed to consumer behaviour change in 2024, factors that effect the way we as individuals act as consumers. For merchants, understanding how has consumer behaviour changed over the years can be a great way to make sure that their future product lines will be prosperous with their desired audiences, allowing them to conveniently understand that they will be able to reach profit during the course of the approaching financial year. One of the most significant factors to affect consumer behaviour in recent times has to be social media, the web platforms that have achieved enormous popularity amongst both the Gen Z and Millennial audiences in recent decades. In the past several years, a short video sharing platform has become an incredibly sought after way for retailers to directly sell their merchandise to their target markets, with some brands creating exciting promotions and product bundles only available within the platform. As we happen to be in a time when the reach of social media is definitely not envisioned to go down at any time soon, we imagine the fund that partially owns Walgreens Boots will be intrigued to see exactly how other retailers continue steadily to make full use of social media shopping in the many months ahead.
For brands, acknowledging the importance of consumer behaviour has never been so vital, as it is a fantastic way for retailers to assure that they are speaking to their target demographic in the most efficient way possible. In recent years, many companies have been taking note of changing consumer behaviour in retail and examining the factors that have affected consumer behaviour in recent times. At a time when stories of rising sea levels and extreme weather patterns are becoming a frequent element of news reporting, it is not shocking that so many consumers are deciding to shop much more conscientiously as a method of reducing their own carbon footprints. As a result, various consumers have become a lot more mindful when considering shopping, deciding to solely support companies that have made their philosophy on sustainability well known. Various other consumers have made the mindful 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 think the hedge fund which owns Waterstones and the fund that partially owns Amazon will be fascinated to observe just how sustainability continues to be a factor that influences market behaviour.
With a new economic year about to begin, we imagine many brands will be being attentive to consumer behaviour change examples as a method of guaranteeing that their strategy is ultimately fit for purpose. One of most significant factors set to influence consumer behaviour this year has to be the truth that consumers prefer shopping with retailers that have invested hugely into developing technology like artificial intelligence and VR, something that is not shocking in an interesting time for the rapidly developing technology.