Impact of consumer behaviour on technology trends – Times of India
Technology is playing a crucial role in empowering the consumer by providing them limitless access to information. Products and services are readily available at the touch of a button. As consumer behaviour trends grow in speed, brands must evolve to keep up with them. Through their actions and choices, brands play an active role in establishing customer preferences. The impact of consumer behaviour has changed the way brands operate, which has resulted in a large amount of e-commerce and online marketplaces.
The advent of digitisation and the emergence of marketing through digital platforms, vis-a-vis offline marketing have changed consumer experiences, which further demands evolved use of technology. Some of the trends which are driven by consumer behaviour are:
People want to interact with people, pieces of content, or software that give them the impression that their preferences and interests are being considered. The constant increase in awareness of latest and unique has given rise to personalisation. A lot of companies use personalised technology or products like monitors and other gadgets which are custom–made as per their needs.
Ease of access to information
A decade back, buying decisions were based on advertisements, word of mouth and past experiences. However, the choices are now made on the basis of the information of product or service available on the search engines. The more presentable and effective the information is, the more impact it will make on the purchase decision of the consumer.
Creating an experience
The customers not only look forward to uniqueness in a product/ service or technology, but they also rather demand an experience which can leave an impression on their minds. The brands are using technology as their pillar of support to create such experiences with new trends like AR and VR.
The customer journey has changed dramatically since the lives have become connected and the introduction of smart gadget and, with them, micro-moments. Consumers make decisions faster than ever before and find the information they need in even less time. Chances that a customer has already made up his mind to buy a certain product is greater than 90 % to any channel whether it is offline or online. It is no longer a straight line from A to Z via B, C, D, and so on. This journey now includes hundreds of different stops where we visit apps, social media, and websites. Since the customers are living in the moment, the brands, therefore, are using these moments through various technology trends to make the most of moment specific impulses of the consumer
New communication channels
Responding to consumer needs and behaviour through emails and phone calls is a thing of the past. With the advent of new platforms owing to the evolving technologies, it has become imperative for the brands/companies to create a recall value for their products and services on these platforms as well.
Cloud technology, IoT and Big Data
The evolving behaviour of the consumer has also led to the integration of some of the latest and biggest technology trends. Cloud computing enables businesses to track consumer behaviour like never before. Sharing, storing, and outsourcing have all become significantly easier in recent years. Data on the cloud provides businesses with full-scale data to analyse purchasing behaviour and improve algorithms to better serve their customers.
Responding to the consumer’s behaviour innovatively and creatively is the need of the hour and hence, the brands should be able to strike a balance between the right technology and the needs of the consumer to be able to stimulate and retain the consumer and optimise the growth.
Views expressed above are the author’s own.
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