Consumer trends: how we're buying in 2024
The year 2023 is finally over. We’ve seen new inventions, the big rise of AI, and plenty of trends come and go. So, what’s 2024 going to have in store for us? How will we spend our hard-earned coins? Here are three major consumer trends to keep in mind this year.
LOYALTY
59% of consumers want to pay more if they’re buying from their preferred brands. We’re more loyal to brands than ever. However, there are certain things we expect in return. So, a well-thought-out loyalty strategy should definitely be somewhere at the top of your to-do list. Think about gifts, exclusive member discounts, advantages, or personalized experiences. They’ll improve not just loyalty but also the overall customer experience. If your loyal customers aren’t getting anything in return, they’ll quickly find other brands that do.
SUSTAINABILITY & ETHICAL RESPONSIBILITY
The world’s ending. We all know by now. However, over the past few months, more and more people have actually started caring. Moreover, over 73% of global consumers are even willing to change their consumption habits to reduce the environmental impact. So, if you’ve got something to sell, think about its impact on the world. How can you improve your production process? Can you make packaging that’s more environmentally friendly? Or maybe you can communicate more inclusively. Trust us; your hard work will pay off.
However, always remember that greenwashing is not the way to go. Don’t claim you’re doing something with a small environmental impact if that’s not the case. Because no matter how much consumers appreciate a green company, once they find out it’s all fake, they’ll come for your head.
AI AND AR
We’ve seen plenty of it in 2023, and things won’t change in 2024, either. AI and AR allow us to change how we communicate with customers and offer them products. We can provide unique experiences that are more immersive, interactive and personalized. Because of AR, we can even let someone try out a service or product even before buying.