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RESPONDING TO NEW CONSUMER TRENDS (PART II)

2019-03-25

In the previous article we talked about the first part of consumer trends from Euromonitor International . Today we are talking about the next five.

 

6. Virtual Reality

According to a survey conducted by LEK Consulting, 80% of respondents are interested in using AR technology (complemented by reality) to visualize products in their homes. This will allow them to understand better their needs and thereby make more informed purchases.

Consumers more often make their choice by using the tactic «try and then buy» — retailers are coming up, offering special programs that allow you to get acquainted with the range in virtual reality. This also applies to selfie cosmetics testing or clothes packs in digital locker rooms. However, the reviewers did not pay attention to the opposite trend ...

7. Sleuthy Shoppers

The growth of skepticism to the mass market leads to the fact that more and more young consumers, refuse to buy goods from ordinary lines or from large corporations.

A new wave of customers explores the whole production process, from the delivery of materials or ingredients to the production and distribution, as well as information on all parties involved in the process. This explains the growing popularity of capsule co-operation between different manufacturers of clothing and footwear, craft beer, burgers and footwear from small independent producers.

Many large companies are already conducting excursions to their production or even making them «transparent», launching limited versions of certain goods, opening more small local brewery, or changing the way of selling the product. For example, at Starbucks was launched a programin which coffee beans that were fried directly in coffee shops, in the eyes of buyers who themselves could choose the degree of roasting depending on their preferences and tastes.

As we see, one gets the crisis (consumer confidence), and other gets the profits.

Smart companies are aware that such state of affairs needs them to be active in developing the technology of emotional engagement of clients (CECs). The best way to get the trust of such consumers is to show the product history and experience of the people who created it.

8. I-Designers

Because of the growth of technologies, more and more consumers get the opportunity to design their own clothing or home or furniture in it independently. It is not difficult to satisfy them. Give them the tools, the space for creativity and the exchange of their creations.

For example, LEGO Ideas is a collaborative platform that allows fans to present their own projects for new LEGO sets. So, IKEA has released the addition of the added reality of IKEA Place, which allows users to virtually put furniture and interior items in their homes.

The Dulux Dye Paint Manufacturer, with the addition of Visual Basic, completes the reality, gives consumers the opportunity to see what kind of wall there will be in their homes when applying a paint of a particular tint.

In fact, this trend is the development of customization from the manufacturer, which, through the creation of a unique design of the product, the consumer could stand out in the general flow.

9. Co-living

This is a kind of echo of megacities. Here are two examples.

Living together is becoming more and more popular when residents share a living space with a similar set of interests and values. It is interesting that now not only young people live, but also elderly people, even older than 65 years old. People share space and reciprocity to save money and inspire each other with common ideas or provide comfortable, more affordable living conditions. Is the communal back?

The second example concerns the explosive growth of caresserding and bicycle rental. More and more large automobile companies are increasing their investment in car-care services, many of which originally appeared and evolved for the money of venture capital investors. Over the past two years, several such agreements have been signed: Toyota has begun cooperation with the Singapore-based competitor Uber — Grab, Volkswagen has invested $ 300 million in the Gett service, and Jaguar Land Rover has invested $ 25 million in US rival Uber, the Lyft company.

10. The Survivors

10 years on from the credit crunch which heralded the start of the Great Recession, the frugal mindset of consumers remains entrenched.

Consumers began to buy goods at reduced prices during the crisis. Now the situation has not changed: they continue to use discounts and actively monitor all stocks, although they can already afford to buy goods in regular stores.

This trend has been noticed by other researchers. In September 2018, in the GlobalData report, the segment of grocery discounters in the UK grew faster than ever. From 2012 to 2017, it grew by 74.2% to 23.9 billion pounds. In the next five years, it should grow by another 34.4%.

Retailers respond responsibly to shifting consumer demand to the discounter segment — last year, the German LIDL discounter entered the US market where there are enough of its networks selling at reduced prices, such as Wal-Mart or Kmart. By the end of the year, about 100 Lidl stores were operating in the United States. In another German network of discounter, Aldi, in the United States already has 2,5 thousand such stores. Discounters respond subtly to prices, leaving the only ones that were resistant to the growth of online retailing, remaining a serious blow to the retail industry.



#advertising#digital#marketing#Поради та лайфхаки

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