Consumer behavior is constantly changing. While some of the needs ruled five years ago, now they could be completely irrelevant. The latest technology, new user experiences, and unexpected business situations may bring new customer expectations, so we need to re-evaluate our audience yearly.
So, how did the pandemic chaos form this year’s consumer behavior trends? We picked the key needs that shape the current business climate.
1. Need For Transparency
Among the needs of customers, there is not only the wish for fast service and delivery. The clients seek transparency, which allows getting acquainted with brands, their products, and services better. That is essential to gain the client’s trust – as much as 94% of consumers would be more loyal to brands that are transparent and sincere about their practice. That is why customers are becoming more and more interested in supply chains, product ingredients, and brand credibility to make sure they choose the most reliable option.
2. Focus On Ecology
The increased focus on ecology is already apparent, but the trend will grow even further. That is due to the increased information and data on changes and damage to the Earth caused by non-ecological choices. 55% of customers will pay more for the organic option – such needs will also dictate supply. The manufacturers and businesses will strive to become eco-friendly and will opt-in to use renewable energy.
3. Conscious Shopping
Awareness does not stop with organic goods and increased attention to nature conservation. Things like animal testing and the company’s public stand on political or social issues influence customer attitudes to the brand. According to Forbes, 81% of customers say they would rather buy from brands that match their own values. It is also worth noting that the company’s stance is valued most by the younger Y and Z generations with 9-11% bigger population than gen X.
4. Changes In Communication
Due to the pandemic, most communication has moved to the virtual world. Although we are slowly getting back to the normal way of things, many customers will continue to expect impeccable customer service. As many as 74% of customers say they prefer Chatbot when looking for quick answers. Thus, artificial intelligence and virtual assistants in e-shops will be a necessary addition to ensure customer satisfaction.
5. Need For Anonymity
We leave increasingly more personal information when browsing or shopping online. 54% of consumers worry about what companies are doing with their data. To avoid the consequences of data breaches, consumers will tend to remain anonymous and refuse to provide information that is not essential for the service.
6. Independence
The quarantine forced a lot of people to learn new skills or sharpen the old ones. Instead of spending more money on goods and services, they are cooking at home and taking care of their appearance, bodies, home interior, and comfort by themselves. As a result, there is a growing interest in the do-it-yourself culture, while the whole DIY market will grow to $1.1 trillion by 2025.
7. Need For Contactless Solutions
To maintain strong immunity and avoid viruses, flu, or other diseases, customers will move towards non-contact solutions. According to Forbes, as many as 77% of consumers expect to increase the use of contactless solutions – such as voice assistants or facial recognition – to avoid direct contact. Contactless payment methods and services will become a trend that will stay with us in the foreseeable future. That is also related to customer spending, as the ability to pay by card increases spending by as much as 37%.
Finally
These trends will allow you to get to know your customers and understand what they need. If you are interested in how we can contribute to the improvement of your customer’s shopping experience, do not hesitate to contact the Venipak team!