If you'd like to find out more about the factors impacting consumer behaviour this year, just look at this article.

Just like in many some other years through out history, there's been lots of factors that have contributed to consumer behaviour change this year, factors that effect the way we as individuals act as consumers. For merchants, understanding how has consumer behaviour changed over the years can be a great way to make sure that their upcoming product lines will be prosperous with their target audiences, allowing them to conveniently know that they will be able to reach profit during the course of the upcoming fiscal year. One of the greatest factors to impact consumer behaviour recently has to be social media, the internet platforms that have gained massive popularity among both Millennial and Gen Z audiences in recent decades. In the past several years, a short video sharing website has become an incredibly sought after way for retail companies to directly sell their merchandise to their target audiences, with certain brands developing interesting deals and product packages only available on the platform. As we happen to be in a time when the power of social media is not anticipated to go down at any time soon, we imagine the fund that partially owns Walgreens Boots will be intrigued to see exactly how other retail companies continue to make use of social media shopping in the several months ahead.

For retailers, recognizing the importance of consumer behaviour has never been so essential, as it is a great way for famous brands to guarantee that they are talking to their target audience in the most effective way possible. In recent years, many brands 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 time when stories of rising ocean levels and extreme weather patterns are becoming a frequent element of news reporting, it is not shocking that so many consumers are deciding to shop a lot more responsibly as a method of lowering their own carbon footprints. As a result, numerous consumers have come to be a great deal more cautious in terms of shopping, opting to only back brands that have made their philosophy on sustainability well known. Some other consumers have made the mindful effort to shop second hand, resulting in many retail companies updating their brand plan of action as a result. With the issue of climate change not set to disappear completely any time soon, we imagine the hedge fund which owns Waterstones and the fund that partially owns Amazon will be interested to witness 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 ensuring that their strategy is fundamentally suited for purpose. One of prominent factors set to impact consumer behaviour in 2024 has to be the fact that consumers really like shopping with retailers that have invested hugely into developing technology like artificial intelligence and VR, something that is not shocking in an interesting time for the rapidly developing technology.