Consumerism in Marketing | Effects of consumerism REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit There’s no question about it: #consumerism or in other words the #consumerbehavior model has gone through tremendous changes in the business province over the last decade, and is likely to evolve further. Let’s consider an example; Smriti & Rahul are a married couple in their 30s. They grew up in a typical middle class family set-up wherein they were just provided with the basic amenities owing to the modest family income, limited choices of products, traditional purchase mind-set and avoiding any kind of unnecessary spending. The entire focus of their lives revolved around saving as much as they can so as to buy their own house, & for their post-retirement life. But, thanks to the growing globalization, the #consumer attitudes have been undergoing drastic changes. So, unlike their parents Smriti & Rahul are much more exposed to new products/technologies, with their buying patterns being more inclined towards products that add to their status, provides great experience, & are time-saving, than focusing on buying only necessary & conventional items. And this not only holds truth in this particular case but also for most of the consumers globally, with the interest in spending on conventional stuff witnessing a decline. Unlike earlier, immediate gratification assumes more significance than creation of assets. Previously, if buying a car or house was the top most priority, today it is more of buying of social status items such as i-phone or going on international vacation. Indeed, we can say that there has been a drastic shift in the consumer behavioral & spending patterns over the years! Moreover, the consumers nowadays are much exposed, aware & knowledgeable when it comes to their needs & expect innovative products which are reasonably priced, provides prompt satisfaction, swift results along with constant access & efficient service. And if they can’t find these, they would not hesitate to shift their loyalty to other brands. To address this shift in consumer behavior, #marketers can adopt the following key points to effectively adjust to this change & succeed in providing the exact experience to customers:- ✅Developing products/services keeping in mind the specific needs, desires & pain points of customers. ✅Creating personalized journeys across their preferred channels to increase engagement. ✅Regular communication with customers. ✅Developing a strong feedback mechanism to understand the mind-set of the customers ✅Strategizing at providing customer satisfaction. ✅Providing a comprehensive & great buying experience from pre-purchase interaction to post-purchase. ✅Using technology for better customer engagement. Hope these quick facts on the current trends in consumer behavior will help you in addressing their needs in a much better way, thereby improving your own sales & revenue growth in return! Do share any other fact that you think can be added to our list by commenting below. Tags: customerexperience, customerjourney, customers