The next few paragraphs goes through some of the factors impacting market behaviour this year.
Like in many other years through out history, there has been countless factors that have resulted in consumer behaviour change in 2024, factors that impact how we as people act as people. For retailers, understanding how has consumer behaviour changed over the years can be a very good way to make sure that their upcoming product lines will be prosperous with their desired audiences, permitting them to comfortably understand 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 achieved enormous popularity among both the Gen Z and Millennial audiences in recent times. In the last 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 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 anticipated to go down at any time 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 many months ahead.
For brands, acknowledging the importance of consumer behaviour has never been so important, as it is a fantastic way for brand names to ensure that they are communicating to their target audience in the most efficient way possible. In recent years, many companies have been being attentive to changing consumer behaviour in retail and investigating the factors that have influenced behaviour in the past several years. At a moment of time when tales of rising ocean levels and inclement 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 conscientiously as a way of decreasing their own carbon footprints. As a result, many consumers have become a great deal more cautious in terms of shopping, opting to only 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 direct 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 most significant factors set to affect consumer behaviour this year has to be the truth that customers have a preference for shopping with brands that have invested hugely into developing technologies like AI and virtual reality, something that is not shocking in an interesting time for the rapidly developing technology.