Consumer trends have changed drastically in recent times and this can be attributed to a wide range of reasons. The internet, technology, the economic situation and consumer expectations all impact the way in which people shop and the way in which businesses now conduct themselves.
Online Shopping
The most obvious change over the years has been the rise of online shopping. Previously, people would visit the High Street to do their shopping or go to the supermarket for their groceries, but this is no longer the case. Instead, people are shopping from the comfort of their own home or on their mobile via the internet. It is easy to see why as it allows a consumer to shop at their convenience and 24/7, plus they can also benefit from much greater variety as they are not limited to the shops on the high street.
Next Day Delivery
Following on from this, next day delivery is another consumer trend that has changed the landscape. One previous drawback from online shopping was that it was not immediate and you would have to wait a few days for the delivery to be made. This is no longer the case as services like Amazon Prime can guarantee next day delivery and this has led other retailers to find ways to follow suit. There are now talks and experiments of same day delivery which certainly looks like a possibility in the near future.
Second-Hand
Another key change in consumer behaviour is purchasing second-hand and this can, in part, be attributed to the economic situation which has led many to reduce their spending. New car sales have plummeted recently but this has been gradual over the last decade as more consumers opt to purchase second-hand and then take out a used car warranty for protection. It is not just automobiles either as the internet has made it easier for people to connect and advertise goods that they no longer need or use.
These are the main ways that consumer behavior has changed in recent times. The changes have largely come down to the intent revolutionizing the way in which people shop, but also the current economic situation which has impacted the way people shop for big purchases. It will now be interesting to see what the future holds for consumer habits and whether or not stores on the High Street will be able to bring people back in for what some people see as a more enjoyable way of shopping.