3 Emerging Trends in Consumer Behavior

Much has changed about how we make buying decisions from just a few years ago. Now that more people own a mobile device than a toothbrush, our craving for instant access, gratification and personalization continues to sway how buyers choose offerings like yours.
 
With that in mind, we dug into recent market studies to highlight trends you’ll want to keep in mind as you fine-tune your marketing and customer retention strategies.
 

​One-click payments
 
Aside from the convenience factor, one-click checkouts remove shopper indecision and cart abandonment — “both major revenue losses for all retailers,” reports CMO by Adobe. One-click payments also save shoppers from having to enter personal data and pull out their credit cards on-the-go, like sitting in a doctor’s office or waiting for their meal at a restaurant.
 
With Amazon’s 1-Click patent expiring in 2017, we’ve seen more and more retailers offering one-click payments. Whether you’re selling tchotchkes or asking prospects to book a free consultation, it’s smart to remove as many steps, clicks or obstacles as possible that can delay that “yes.”
 
Enhanced (and data-driven) customer experiences
 
A couple of years ago, researchers predicted customer experiences would soon be the greatest competitive advantage driving sales — more so than price, product features or other attributes. (We wrote about that here.)
 
Brands are paying attention. Earlier this year, a Forrester Consulting study found “80% of business decision makers said improving their company’s customer experience was among their top priorities for the year ahead.” Expect a greater focus on using data to deliver personalization, immersive mobile experiences, and a single view of the customer across industries — all “in an ethical manner to earn trust,” reports CMO by Adobe.
 
Wellness impact
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Trendwatching, which analyzes global buying behaviors and advises brands from Google to Unilever and Disney, points us to wellbeing challenges that carry opportunities for businesses to impact the health and happiness of consumers.
 
The report, titled The Future of Wellbeing, cites two epidemics that influence buying behavior:

• Burnout: “Consumers from all backgrounds have burnt through their mental and physical reserves,” the report reads.
• Air Time: Increased concern for the environment and demands for brands to “react with reduction, prevention, and protection.”

 
Consider ways your organization can counter both concerns: alleviate stressors or tripping points that can hurt the way users experience your product or service, and reduce your environmental footprint. (Trendwatching has specific examples and recommendations in this free version of their report.)
 
For tactics more specific to your business and audience, consider any patterns you’ve observed over the past year:

• Do prospects stop responding at a given point?
• Do visitors to your website abandon a shopping cart or sales page?
• Do customers tend to disengage after a certain point?
• Does a common challenge or experience keep customers from returning?
• What common questions, objections, or support requests come up frequently?

 
As you identify weak spots, look for ways to remove sources of confusion, delays or difficulties that could turn off customers. Even better: Ask customers directly — not just once, but habitually, and continue to refine their experience accordingly.

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