Often, we approach business and marketing strategies and forget to leave our biases at the door and pay attention to the world changing around us. We get blinders. Many of us fail to pay attention to the big stuff as we get bogged down with the details. Consumer trends as our the big spenders, Millennials and Gen-Z claiming $165M in annual spending power combined.
We’re are in year two of major changes for consumers and businesses, alike. We all experienced isolation, illness, job loss, and the anxieties of reentering the world after major lockdowns. Having a good grasp on what lies ahead can help businesses see around corners and plan effectively to address the post-pandemic consumer. Read on for five upcoming consumer trends.
Trend 1: Brick and Mortar Prevails
While online commerce will exceed 1 trillion this year, Brick and Mortar stores and restaurants remain relevant with 84% of sales coming from physical stores. Social interaction, dining out, and shopping has proven to be even more important as the country rises out of the pandemic and consumers look for the chance to cultivate a sense of normalcy. As many consumers still remain in remote or partially remote positions, the desire to cultivate connection with others is at an all time high. Even if this means a quick stroll to the neighborhood diner to have lunch and see a friendly face, it seems this mode of consumer behavior has taken some visible precedence over the convenience of delivery/fast pickup services. People are social beings. Businesses that have an ambiance that says “stay a while” are simply more likely to succeed than businesses that do not, maybe even despite the quality of their products and services.
Trend 2: Instagram is Key for E-Commerce
Viral e-commerce is a key area of growth. Lipsmans discussed the $45 billion social commerce business which essentially is shopping through social media. Users can expect to see more offers, a broader range of products being offered through social media and an increase in special collaborations between brands, retailers and influencers. Influencer marketing has naturally peaked over the last few years – as we all know. It gives the buyer an opportunity to see the product embedded in a story, person or place that they love.
We hate to be the bearer of bad news but people spend an average of 147 minutes per day on social media. Platforms like Instagram have begun to leverage their user experience to make it easier for shoppers. For instance, IG has added a universal shopping cart that users can fill with products as they scroll through their feeds. They have the option to save the product and buy it when they’re ready. IG Users can now fill one cart with several brands and products – all without ever leaving the app once. If you’re not leveraging social media for your e-commerce business, whether it be paid or organic, it might be wise to jump on that train sooner rather than later.
Trend 3: A Curated Experience Tastes Better
What happens if you give a kid too many toys? Most parents know that over time, they stop playing with any of them. The U.S. market has historically been overstored and over assorted with product choices, especially in the fashion goods category including clothes, accessories and shoes. However, limitless choices and better curated assortments have translated to a positive and less overwhelming shopping experience for customers. We are digital age consumers and are quite used to having access to just about anything and everything we could ever want. Companies like amazon and walmart have given us a case of mild ptsd as the things we thought we knew about what we want become hauntingly less clear.
We make decision after decision all day. At work. At home. Even on vacation. So it comes as no surprise that there is beauty in trusting the narrator. Knowing that the experience will be exemplary no matter what. A french restaurant with only 5 tables and one, maybe two, choices per course. An apparel boutique for active men with a limited summertime collection and items pre-paired with accessories. A bookstore shelf filled with stories exclusively written by rebellious women who paved the way in American history.
These curated experiences bring us a sense of peace and exclusivity all at once. They feel special to us and we are under the impression that we can’t make a wrong decision.
Curating your products and services may pose a challenge but remember that it revalidates you to your clients and customers as the expert. It says “Sit back, relax, and let us drive”.
Design a Modern Brand Experience with Yummy Marketing
At Yummy Marketing we stay up to date on all the newest consumer behavior trends, applying them across the board, from campaign strategies to creative assets. We use data-backed techniques as we build to ensure no time or money is wasted, and we ensure offers are structured around your target audience’s shopping habits so that you always have an edge over the competition.
Get with the times at Yummy Marketing, and take advantage of a free consultation with one of our digital growth strategy experts. They will evaluate your business, your goals, and your unique target audience then identify opportunities that will skyrocket brand awareness and conversions.