World Consumer Trends*: Don’t make me wait
It is no secret that we live in a time of instant gratification. Consumers want what they want and they want it now.
Amazon Prime has contributed to this alteration of shopper expectations. It seems unless your item is available for next day delivery don’t even bother putting it on your website – unless it is for a rock bottom price. Most consumers no longer plan in advance – when they decide to buy the item they will require it instantly.
This is also generating increased challenges for the fashion sector. Shoppers no longer want to buy winter coats in September – when it is still mild. They want to buy items they can wear then and there. If there is a cold snap – then get ready to sell more winter coats.
The expectation is now for brands and retailers to know consumers’ needs in advance and offer goods and services seamlessly integrated with their lives. This makes a deeper understanding of customer behaviour even more critical – the more a company understands about what their customers want, when and why the better it is equipped to upsell and cross sell.
Your customers don’t come through a three month or three week funnel – their needs can change instantly – are you equipped to deal with it? Because a competitor is only a click away.
Emotional Logic’s Tipping Point analysis helps brands identify key opportunities to sell, how to spot them and how to positively stimulate more demand. Rather than looking at the consumer journey as a linear process (which it isn’t) this process identifies key factors that influence demand and the tipping point when desire turns into action. This enables brands to more accurately forecast demand and be ready for consumer enquiries.
To find out more about how to equip your brand to expect the unexpected email: firstname.lastname@example.org
*World Consumer Trends are major shifts in consumer behaviour that occur simultaneously across world markets. Emotional Logic regularly conducts consumer psychology studies in more than 30 countries world-wide and has observed key trends across markets.