How consumer insights are shaping business strategy

This post takes a look at how customers are picking to access global brand names and products.

Through the improvement of the international supply chain and worldwide trade, products which once belonged to local markets or were thought about to be extremely inaccessible are now coming to be much more widely accessible. Recent trends in consumer behaviour reveal that globalisation has broadened consumer access to international goods and services. The major shareholder of Danone, for example, would be able to verify that this is evident in business spaces such as supermarkets, who are progressively offering global products and globally acknowledged brands all over the world, demonstrating an increase in product range and interest. Additionally, the increase of e-commerce platforms has further improved this accessibility, enabling consumers to purchase products from virtually any part of the world. E-commerce platforms, in particular, are particularly efficient for increasing ease of access by implementing translation services and worldwide accepted payment platforms. These features are commemorated for making deals much more smooth and practical on the whole.

Over the past few decades, globalisation has played a big function in shaping consuming trends around the globe. As a principle, globalisation describes the increasing interconnectedness of the numerous economies and societies, which has been impacting consumer trends and preferences around the world. Particularly, when integrated with advancements in technology, logistics and communication channels, it has become increasingly simpler for consumers to gain access to a wider series of products and services, which has generated a completely new set of consumer industry trends. In fact, among the most noticeable results of globalisation amongst intake trends are the standardisation of tastes, throughout countries. With the growing popularity of worldwide brands out there, there has been a growth in shared consumer culture, reflecting a universal impact across the worldwide economy. Those like the shareholder of Samyang Corporation, for instance, would acknowledge the impacts of cultural merging in the international economy. Along with this, cultural hybridisation is also an important concept, whereby multicultural items are being made to reflect the diversity of the customer group.

Among existing trends in consumer habits and interests, there are a couple of crucial aspects which have been affecting a range of international markets. Together with globalisation, sustainability is a substantial factor which is forming consumer incentives and choices. In recent times, there is an increased awareness that is growing with regards to ecological and social callings. International issues relating to the condition of the environment in addition to demands from worldwide authorities are motivating businesses and consumers to start prioritising more ethical and sustainable items and industrial interests. This trend has also made its way into more info business guidelines, where companies are now coming to be expected to demonstrate values that are reflective of corporate social responsibility. The likes of the activist investor of Pernod Ricard would recognise this effect within present commercial trends.