Recent as a source of inspiration and the

Recent Trends in Consumer Demand

 Mobilisation of Consumption

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 Consumers increasingly consume at home or on
the move. there is a trend that consumption takes place not only where the
consumer wants but also when the consumer wants. These trends are facilitated
by new technologies accessible 24/7 
platforms making it possible for consumers to make orders whenever they
find it convenient

Globalisation

 The global communication and networking has
become the focus of  the global businesses.

As
production has become increasingly international, demand is also affected by
globalisation trends. Consumers now expect products from all over the world to
be delivered to their doorstep. It has generated the changes across the world. Digital
platforms have made cross-border trade convenient and economical. Consumers from
different parts of the world now have access to similar products in the global
market.

Innovation

Digital and technological advances are enabling us
to create in new ways–leading to new creative forms and helping us see a new
appreciation of the digital as a thing of beauty.This use of science is no longer just for experts. We are in the midst
of a new form of industrial revolution where technological advances are
enabling people to make the transition from users to creators. We’re seeing a
new appreciation of the digital as a source of inspiration and the means to
create are now in the hands of everyone. Coding has gone fully mainstream, and
the rise of 3D printing is hailing a new era for industry. Soon everyone will
be a manufacturer, able to create what they want, when they want it.

 

Mindfulness.

 In a world full of buzz and surface
interactions, people are seeking more depth and meaning. Leisure is becoming as
much about self-development as pleasure-seeking, and there is a growing sense
of earnestness, consideration and thoughtfulness. People are craving time away
from the stimulus of the internet, and are severing their connection to
technology. People are also becoming increasingly aware of the ethical impact
of their everyday lives. They are encouraged to think about–and take
responsibility for–the ethical status of the things they do, buy and support.

 Super-Personalized

 Personalization has been taken out of the hands and tastes of
consumers. Advances in technology mean that products are able to read consumers
and give them what they want – sometimes without even being asked. While
mass production is an important part of globalisation, an important counter
trend is customization of products and services to individual needs and wishes.
An example of this trend is the increasing importance of customized products
and services

Customer Engagement

Engagement on the Social Web means
customers or stakeholders become participants rather than viewers. The
engagement process is, therefore, fundamental to successful social marketing
and to the establishment of successful social business practices. Engagement in
a social context implies that customers have taken a personal interest in what
you are bringing to the market

Social business, therefore, is
about equipping your entire organization to listen, engage, understand, and
respond directly through conversation and by extension in the design of
products and services in a manner that not only satisfi es customers but also
encourages them to share their delight with others. If social media is the
vehicle for success, social business is the interstate system on which it rides
into your organization

Across industries, the percentage
of consumers saying they participate in at least one customer loyalty program
has increased since 2009 as has the percentage indicating such programs
persuade them to stay with a provider. However, program adoption is primarily
driven by the desire to gain access to the “best deals,” indicating a sort of
short term loyalty that fails to keep customers committed for the long haul. While
consumers stated increased loyalty due to such programs, their actual behaviors
indicate they continue to leave providers at a high rate.

Omni-channel Access

Widespread use of
mobile devices has also raised the need for organizations to have a 24/7 presence
on their social media pages to handle the complaints and queries of customers.
Mobile devices are going to change the way organizations are encompassing the
user’s perceptions and feelings before, during and after their interaction. The
mcommerce now outweighs the e-commerce traffic. Clearly, shopping on
smartphones has already changed the game. Industry experts believe that
mcommerce will soon contribute as the major revenue provider. Therefore, rather
focusing on different channels of customer service, organizations should focus
more on creating great user experience in the mobile-driven world

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