Navigating the New Normal: Consumer Behavioral Shifts

Each time you visit the grocery store, fill up at the gas pump, or place an order on Amazon, you’re engaging in the role of a consumer. As your needs and wants change, so do your purchasing habits. In this blog, we’ll dive into the latest trends in consumer behavior over the last year, providing insights to help you navigate these shifts with confidence.

The Rise of Social Commerce

Online shopping has become second nature — it’s often simpler to ‘Add to Cart’ than to make a trip to the store. Enter social commerce: a new approach that merges shopping with social media, allowing brands to sell their products directly on social platforms.

By keeping the entire shopping experience within a single app, brands create a more seamless and engaging process that fits naturally into consumers’ daily social media habits. This integrated approach also increases the likelihood that users will recognize your brand in the future and may lead to more spontaneous purchases.

Ethical and Sustainable Products

Your brand story holds more significance to customers than you might realize. Corporate social responsibility (CSR) is a business model that helps companies be socially accountable to themselves, their stakeholders, and the public. According to a study by PwC, consumers are willing to pay a 9.7% premium on sustainable products from companies that practice CSR. Products like bamboo clothing, renewable energy, and fair-trade materials will stand out to consumers during their search.

Consumers are also increasingly concerned with carbon accounting — tracking emissions produced both directly and indirectly by a company’s operations. Keeping track of what you emit into the atmosphere and offsetting those amounts demonstrates to customers that you are environmentally conscious.

Trust in Influencers

In recent years, consumers have increasingly turned to social media influencers for purchasing decisions. Influencers are perceived as relatable and authentic, often building niche, trusting communities focused on a common goal or interest.?According to a study by Klarna, influencers have a greater impact on Gen Z consumers’ buying decisions than retailers do.

Brands can partner with influencers through social media, gaining a more interactive method of advertising their products. A simple way to start is with micro-influencers, who have between 10,000 and 100,000 followers. These influencers are likely to foster more personal relationships with their followers and maintain high engagement rates. Reach out to them using the contact information in their bio or by sending a direct message.

Increased Spending on Pets

Dog moms and dads everywhere are increasingly willing to pay the big bucks for their furry friends. When you love them like family, you’re happy to spend money to give them a luxurious life. According to Statista, a whopping $147 billion was spent last year on pet products. Current trending items include CBD treats, organic cat food, and pet probiotics. Consumers are willing to pay steep prices for these goods.

Consumer behaviors continue to evolve at a remarkable pace, creating both challenges and opportunities for businesses. Success depends on understanding these emerging trends and adapting to the changing landscape.

Embrace these changes with certainty with the support of Baer Performance Marketing!?Our experts track shifting market dynamics to ensure your brand stays ahead of the curve. Contact us today for a free consultation!