Understanding factors impacting UK consumer market today

Understanding factors impacting UK consumer market today

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We are going to be spending a while examining the factors that have affected market behaviour this year.

Just like in many different times throughout history, there have been numerous factors that have contributed to consumer behaviour change this year, factors that affect the way we as individuals act as consumers. For retailers, exploring how has consumer behaviour changed over the years can be a very good way to ensure that their upcoming products will be successful with their target audiences, enabling them to conveniently know that they will be able to reach profit in the course of the approaching financial year. One of the biggest factors to influence consumer behaviour in recent years has to be social media, the online platforms that have gained massive popularity among both Millennial and Gen Z audiences in recent times. In the past few years, a short video sharing platform has become an exceedingly prevalent way for retail companies to directly sell their goods to their target audiences, with certain brands developing exciting promotions and product bundles only available within the platform. As we are in a time when the reach of social media is definitely not envisioned 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 months ahead.

For brands, recognizing the importance of consumer behaviour has never been so essential, as it is a brilliant way for brand names to guarantee that they are talking to their target market in the most effective way possible. In recent years, many brands have been focusing on changing consumer behaviour in retail and assessing the factors that have impacted market behaviour in recent years. At a time when tales of rising sea levels and extreme weather patterns are becoming a frequent feature of news reporting, it is not shocking that so lots of shoppers are choosing to shop much 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, choosing 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 numerous retailers updating their product strategy as a result. With the dilemma 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 probably be interested to witness how sustainability remains a factor that has an effect on market behaviour.

With a new financial year about to start, we think numerous brands will be being attentive to consumer behaviour change examples as a way of ensuring that their product strategy is fundamentally suited for purpose. One of biggest factors set to affect consumer behaviour this year has to be the reality that customers prefer 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.