How the Recent Economy Is Creating a New Consumer

[Recent economic conditions may be fueling a new cultural shift in how consumers are making their purchasing decisions. Consumers that were once willing to make “compulsive” purchases are now shifting toward “considered acquisition” purchases. This simply means that consumers are becoming smarter buyers and are taking more time to research their options before making a final purchase decision.
These trends have been documented in a recent study that tried to determine which factors influence consumers when they are making a typical purchase. Although this study targeted consumer purchases, we feel that B2B marketers should be very cognizant of these trends for their business as well.
The following study results tracked the percentage of consumers who regard each of the following factors as “extremely important”:
– Brands that provide a better quality for the money: 57%
– Brands that offer better quality: 42%
– Brands that are longer lasting/more durable: 40%
– Brands that simplify my life: 34%
– Brands that offer a healthier option: 33%
– Brands that help me save time: 33%
– Brands that are green: 22%
– Brands that are innovative: 17%
As you look at these general findings, we believe it is important to notice the cultural trends occurring and how they may play into or affect your brand position moving forward. We believe the new opportunity for marketers is to better understand the true reasons your customers purchase from you so you can find a way to craft your upcoming promotional campaigns to take advantage of these cultural shifts.

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