We all know that if you want to boost your sales, widen your reach, and better your reputation, understanding your customer is vital. Keeping your eye on customer buying and behavioral trends will help you tailor your marketing efforts according to their needs and desires and keep you one step ahead of the competition.
So what are some recent and upcoming trends that you should be aware of that should have an impact on your end-of-year marketing push?
The ‘I deserve it’ mentality
There is no denying that we’ve all had a pretty tough year; with lockdowns, the inability to travel, and even see our friends and family as much as we’d like, there has been a shift in attitude. We want to take care of ourselves, treat ourselves, and reward ourselves for staying strong and getting through this. While many people will inevitably have to tighten their belts due to the impact of Covid, there will also be some customers who feel like a splurge is just what the doctor ordered. Those with steady incomes may drive up their spend – having saved money on things such as travel and socializing and will instead pour that extra cash into their gift-giving and self-gifting. This presents an opportunity for business owners to market their products and services under the ‘go ahead – you deserve it’ package, promoting customers to buy to treat themselves and their loved ones.
Delivery expectations lower
Next day and same day deliver offerings have always done well and boosted sales. Free delivery and click and collect services also carry lots of appeal. However, interestingly in light of the pandemic, customers seem to be lowering their expectations in terms of delivery time and service, as many businesses struggle to keep up with orders due to increased demand, remote working, or lay-offs.
As delivery is less of a deal-breaker for customers, especially now we are at home all day, so we can have things delivered to us pretty much whenever. This means that if you are a business that relied on speedy delivery as a big selling point, you may now need to shift your focus onto something different, as this is not such a huge draw for customers at present.
An emphasis on sustainability
Covid-19 has affected our lives in so many ways. Even those shopaholics amongst us may find that our priorities have changed, resulting in a shift from mass consumerism to favoring products that are sustainable, high quality, and less damaging to the environment.
An increase in support for smaller, local businesses
Customers are more likely to shift their attention to small, local businesses in an effort to support the local community and those who have been impacted by Covid in the most devastating ways. As most people are now spending more time within their local communities rather than traveling further afield, smaller businesses have naturally become more of a focal point. If you are a smaller business, making an effort to capitalize on this mentality and encourage consumers to shop online and from the physical store, you can maximize potential spending.
Monitoring customer behavior and trends and adjusting marketing efforts accordingly is a smart move for any business owner, both big or small. In the lead up to Christmas, business owners need to keep their eyes and ears open, listen to what their customers want, and provide it if they hope to stay competitive and profitable in these challenging times.
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