Consumers today demand real connections in their interaction with brands. It is more important to receive personalized and empathetic attention from the brand or service than delay and waiting time, whether online or in-store. Over the next two years, consumer behavior should change and evolve in response to consumer trends, primarily in these areas:
- Loyalty, brand, or service provider switching.
- An increase in local consumption.
- Search for fun, consumer fatigue.
Here are the top three consumer trends for the next two years.
Consumers today are looking for human proximity when interacting with brands. Brand loyalty should be considered a priority within the customer relationship, where the combination of products or services, marketing, and communications fit together in a way that elevates beyond simple customer satisfaction and expectation.
It is about moving out of the physical and into the emotional as, in essence, brand loyalty is a type of love.
Social media, blogs, and review websites are invaluable for companies that want to build business loyalty and raise the expectations of their potential and current customers.
Increased local consumption
Buying local has become an increasingly “sexy” trend where consumers can protect themselves financially, environmentally, and psychologically and feel that they are contributing to their immediate environment.
Fun-seeking, consumer fatigue
Consumers expect brands to allow them to escape their worries, stress, and boredom.
Brands that manage to understand and leverage this space, like the Abercrombie clothing company and other personal care products have done, will create more loyal consumers. They help consumers live experiences that connect them to their emotions.
Brands can give consumers moments of joy in challenging times by offering fun, either on the digital spectrum or with personal experience.
“23% of consumers who have used beauty products in the past 12 months say they have fun creating new products and styles at home.” (Source: Mintel Trends 2022)
One-way brands provide fun experiences for consumers is by encouraging them to play and have fun with their daily routines, such as experimenting with fashion, beauty, exercise, and cooking.
It responds to consumers’ need to find happiness in their daily lives and be present in every moment.
Now that you know more about the market and consumer trends for 2023/24, it’s a good time to adjust and start implementing strategies that best suit and impact your target audience.
Nothing is exact and specific, and we do not know what the future holds. What is certain is that we are in the process of global transformation, and understanding the changing habits of consumers will help us cope with the changes without getting lost along the way.