In this post-pandemic time, consumer behavior has evolved again, shifting in their purchasing preference in relative to their needs. It’s a curveball for brands to cope with the ever-changing consumer, but the key here is to understand their evolution to anticipate and connect with them to respond to their changing needs. Brands tend to get comfortable with constant. Constant is comfort and comfort means we slowed ourselves as we are familiar with ‘how the engine runs’ and would not otherwise change the status.
If it is not broken, why fix it? That’s where it gets dangerous. How can brands then continuously excite consumers. Understanding today’s evolving consumers is the key unlock to brand experiences. Why is that so? Today’s evolving consumers are also known as the Experimental Explorers. They are experimenting with new brands and platforms, with 53% switching away from their most-purchased brand, and 40% switching their most used online platform in the last 3 months, seeking more value and engagement 1.
What’s really causing the shift? Boredom. The pandemic has brought about accessible choices to consumers. They are constantly looking to discover new and exciting brands and products. Furthermore, the shopping experience is not as linear as how it used to be. Consumers are now using a range of resources and technologies through a single purchase. From online discovery to offline visits and back to online purchasing, technology has evolutionised the way shopping experience can be for consumers. Both online and offline touch points are key to a flexible shopping experience, with 82% shoppers citing online as their go-to channels for browsing and 41% shoppers choosing to purchase offline even for digital shoppers. Consumers are moving seamlessly across channels, from digital to real life. They are now demanding an integrated shopping experience, making it essential for brands to learn omnichannel strategies to create high quality customer experiences across channels. This is evident as research has shown that 80% of customers prefer omnichannel experiences for its seamless communication 2. Our consumers no longer distinguish between online and offline, but rather an overall experience. How can we put our hats together to think about user journeys to improve and close the loop?
Experience aside, consumers’ priorities have also shifted. Welcome to the feel-good era, where consumers are re-curating experiences based on what they truly value and desire post pandemic. Consumers are now choosing experiences that provide joy and happiness, obtain mental wellbeing, leaving them with lasting memories and reconnecting them with friends and family 3. They want experiences that resonate with them on a personal level. 70% consumers want an experience where they can just laugh and have fun while 58% want to be part of an experience to escape from everyday life 4. Emotions are the new currency for consumers’ loyalty. This is a currency based on their need for happiness, wellbeing, community and escapism. From 2012 to 2019, there is an increase of over 60% of consumers buying from companies with which they have strong emotional connections1. This emotional attachment creates real business value. When brands create positive memories for their customers, they also create preference and affect their customers’ buying decisions. There is a +52% customer value in relation to highly satisfied customers with a 71% rate of promoting the brand compared to a 45% average5. How can brands start to help consumers experience fun and immerse in play?
The evolving consumers are also part of the new generation of consumer creators. With 4.2B social media users, 500M passion economy users and 200M creators 6, not only are consumers on social media like never before, they are also emerging as nano creators of their own. Everyone is a creator on the lookout for things to share; everyday moments, lifestyle videos, places and events to visit. It is a ‘Pics or it didn’t happen’ phenomenon – the mantra of the Instagram era as people share every moment on social media. Cravings for shareable moments turn consumers into effective brand advocates. Shareable moments increase social buzz, brand awareness and engagement. Such online WOM drive real conversion, more than social media ads and influencer marketing7. With this rise of social media, we are both consumers and creators heavily influenced by it, how can we then create true authentic shareable moments in our brand experiences?
Takeaways:
- With consumers being experimental explorers seeking excitement, how do brands excite them at where they are?
- Consumers no longer distinguish online and offline, how can brands then work together to improve and close the loop to create an omnichannel shopping experience?
- Emotions are the new currency for loyalty, how can brands touch on consumers’ emotions and bring them on a journey to experience fun and immerse in play?
- A new generation of consumer-creators are out there, how can brands create true shareable moments to deeply engage them and own a space in the hearts of new and existing consumers?