Insights on how consumer insights are forming business strategy

This post takes a look at how customers are picking to access global brand names and products.

Over the past couple of decades, globalisation has played a huge role in shaping consuming trends around the globe. As a concept, globalisation describes the increasing interconnectedness of the various economies and societies, which has been affecting consumer trends and preferences globally. In particular, when integrated with developments in technology, logistics and communication channels, it has become significantly simpler for customers to gain access to a wider series of product or services, which has given rise to a completely new set of consumer industry trends. As a matter of fact, one of the most noticeable results of globalisation among usage trends are the standardisation of tastes, throughout nations. With the growing appeal of international brands on the market, . there has been a growth in shared consumer culture, showing a universal influence throughout the global economy. Those such as the shareholder of Samyang Corporation, for example, would recognise the influences of cultural convergence in the worldwide economy. In addition to this, cultural hybridisation is also a crucial concept, where multicultural items are being made to show the diversity of the consumer group.

Among existing trends in customer habits and interests, there are a few crucial elements which have been affecting a range of worldwide markets. Along with globalisation, sustainability is a huge element which is forming consumer incentives and preferences. In current times, there is an increased awareness that is growing with regards to environmental and social callings. Global concerns relating to the condition of the environment in addition to demands from global authorities are encouraging businesses and consumers to begin prioritising more conscientious and sustainable items and commercial interests. This trend has also made its way into business guidelines, where companies are now coming to be expected to demonstrate values that are reflective of corporate social responsibility. The likes of the activist investor of Pernod Ricard would recognise this impact within present industrial trends.

Through the advancement of the worldwide supply chain and global trade, items which once came from local markets or were considered to be extremely inaccessible are now coming to be a lot more widely accessible. Recent trends in consumer behaviour reveal that globalisation has broadened customer access to worldwide goods and services. The major shareholder of Danone, for example, would be able to verify that this is evident in industrial areas such as grocery stores, who are increasingly offering international products and globally acknowledged brand names around the globe, demonstrating an increase in product range and interest. In addition, the increase of e-commerce platforms has further enhanced this availability, making it possible for customers to acquire products from essentially any area of the world. E-commerce platforms, in particular, are specifically reliable for increasing accessibility by implementing translation services and internationally accepted payment platforms. These features are commemorated for making deals a lot more smooth and practical on the whole.