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5 Consumer Trends: The Outlook for 2020

Thursday 23rd January 2020


There are new challenges and new opportunities businesses will face in 2020. Here are five key emerging consumer trends to help you boost your customer experience for the year ahead.

Sustainability

With news of the effect the population is having on the sustainability of the planet, with issues such as climate change, plastic in our oceans and rainforests disappearing, consumers are demanding that businesses prove what they are doing to be sustainable. It is important to prioritise wellbeing and promote sustainable business practices.

Technology

2020 will see a rise in brands using Augmented Reality (AR) and Mixed Reality (MR) to market their products and provide consumers with experiences. The emergence of new technologies will also allow brands to obtain customer data, as brands step away from traditional consumer data such as age, demographics, and gender to provide insights. Data will become more content and behavioural based rather than statistical; brands will need to take extra steps to understand the data they are getting from consumers and how they can use this to create competitive advantage.

Personalisation

Personalisation is a way of ensuring that the unique needs and preferences of your consumers are being met. Consumers want experiences that provide different touchpoints at every stage and allow them to escape and have new experiences through the products. As consumers become more global and demanding it means adopting a one size fits all approach will no longer work. Consumers desire personalisation from brands to give them a sense of individualism.

Transparent branding

Consumers have become more informed and more aware of what they are buying and where those products come from. It is important brands focus on being honest about the business’s practices by adopting practices that are ethical and transparent with consumers. Transparency is a tool brands can employ to regain consumers’ trust; research has also shown that people are willing to pay more for brands that act honestly and transparently.

Growing consumer confidence

60% of consumers believe their finances will improve in the next 6 months. As there is continued worry about an impending recession in 2020 and the effects of Brexit, businesses that are experiencing competitive advantage in their sector are seeing continued economic growth despite these challenges. Focusing on reassuring consumers and focusing on consumers’ needs will help businesses to remain competitive and tackle the challenge of consumer confidence.

Consumer trends are changing and while they still expect outstanding levels of customer service, the way they choose to shop and what they buy is evolving. If brands want to be successful in 2020, they should consider these consumers behaviours and trends. Strategies for success could be introducing stronger sustainability practices, convenience, personalisation and traceability. Brands also need to have a deeper understanding of their customers to inform the way they adapt their business.

Performance in People (PiP) has over 20 years’ experience working with world-class brands to improve customer experience through mystery shopping, customer surveys, auditing and customer service training. If you would like to find out more, please contact us directly.

enquiries@performanceinpeople.co.uk or 01983 568080.

Mystery Shopping | Training | Audits | Customer Surveys

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