Emerging Trends In Consumer Behavior 3o1d45

EMERGING TRENDS IN CONSUMER BEHAVIOR Consumer behaviour is defined as the behaviour that consumer display in searching for, purchasing using, evaluating and disposing of products and services that they expect will satisfy their needs. Consumer behaviour focuses on how individuals make decisions to spend their available resources (time, money, effort) on consumption-related items that includes what they buy, why they buy, when they buy it, where they buy it, how often they buy it, how often they use it, how they evaluate it after the purchase and the impact of such evaluations on future purchases, and how they dispose of it. Consumer behavior is a wide subject. Lots of studies are going on on consumer behavior. Here I am mentioning some emerging trends in consumer behavior.

1. Multiplicity. We are increasingly expecting things to do more that involves interacting with all our senses, offers us a range of touch points to play with, and involves us entirely in new experiences. There is a growing desire for multiplicity and experiences are expected to offer more. We’ve grown used to sensory experiences being enhanced, but now we’re seeing the clashing, blurring and even

confusing of senses. The same is happening in storytelling – rather than just one story, we are seeing powerful story worlds with multiple strands of narrative on multiple platforms, allowing the various threads to permeate viewer’s lives. It is no longer enough to immerse the viewer in an experience, and people are rejecting the idea of ive on-looking. They are now craving active participation. 2. Hyper Efficiency. We are seeking and discovering ever-smarter and more efficient ways to solve age old issues–such as keeping fit, lack of space and limited resources. The results are sleeker, quicker and use things that have previously been ignored. This sense of intensity is also reflected in the desire for super-charged forms of efficiency. From health to homes, people are using every last bit of space and time. High-impact, superfast diets and fitness plans are gaining popularity, and – with space at more of a than ever – people are seeking smart ways to integrate a range of functions into one property. With a growing awareness of how limited resources are, innovations are creating valuable assets out of the otherwise unused, and a new wave of so-called “serious games” and collaborative digital platforms are smartly mobilizing our collective intelligence and imagination. 3. The New Industrial Revolution. Science is no longer a closed world, just for geeks. Digital and technological advances are enabling us to create in new ways–leading to new creative forms and helping us see a new appreciation of the digital as a thing of beauty.

This use of science is no longer just for experts. We are in the midst of a new form of industrial revolution where technological advances are enabling people to make the transition from s to creators. We’re seeing a new appreciation of the digital as a source of inspiration and the means to create are now in the hands of everyone. Coding has gone fully mainstream, and the rise of 3D printing is hailing a new era for industry. Soon everyone will be a manufacturer, able to create what they want, when they want it. 4. Escape. In a world of austerity and grown up responsibility, we are seeing the increasing desire to let go, to let loose and indulge in childlike freedom or sheer hedonistic joy. People are demanding more from every type of experience. This can come in the form of escapism–in a time of austerity, we’re seeing the desire to indulge. In a turbulent and ever more serious world, there is a craving for silliness and outright frivolity. People are seeking occasions that allow them to let go of all responsibilities and inhibitions, and embrace outlandish hedonism. 5. Mindfulness. In a world full of buzz and surface interactions, people are seeking more depth and meaning. They are craving time away from the stimulus of the internet, making their leisure time more about self-development, and taking their own ethical responsibilities seriously.

This intensity can also come from a very different angle, in the form of mindfulness. In a world full of buzz and surface interactions, people are seeking more depth and meaning. Leisure is becoming as much about self-development as pleasure-seeking, and there is a growing sense of earnestness, consideration and thoughtfulness. People are craving time away from the stimulus of the internet, and are severing their connection to technology. People are also becoming increasingly aware of the ethical impact of their everyday lives. They are encouraged to think about–and take responsibility for–the ethical status of the things they do, buy and . 6. Super-personalized. Personalization has been taken out of the hands and tastes of consumers. This is not just bespoke you select – it is also bespoke that selects you. Advances in technology mean that products are able to read consumers and give them what they want – sometimes without even being asked. The cultural shifts we are witnessing show a move towards the wholehearted and intense. People want all aspects of their lives to be rich and full. These trends give us a clear sense of where culture is heading, and brands this year will have to work hard to meet consumers’ demands and expectations. Nothing should be done by halves.