Consumer attitudes: how do they influence purchasing?
Posted: Thu Dec 05, 2024 9:21 am
Consumer attitudes have implications for every industry. They drive us to delve deeper into our knowledge of consumer behavior to understand customers and tune into their needs, desires and expectations.
A study by KPMG argues that we are at a key moment to reconnect with our consumers , since the effects of COVID-19 not only altered the economy and businesses, but also drastically changed consumer behaviors and attitudes regarding the purchasing process .
In light of today's reality, it makes no sense to generate strategies based on consumer attitudes of the past. The consumer profile has changed and according to the aforementioned KPMG study:
80% of consumers prefer zambia email list
to buy brands that are aligned with their beliefs and values ;
37% of consumers are prioritizing the purchase of sustainable products and services , compared to their purchasing behavior before COVID-19;
90% of consumers are willing to pay more for a brand that is ethical and gives back to society .
Consumer attitudes and their influence on the purchasing process
The same research suggests 5 criteria that influence consumer attitudes and impact the purchasing process. They are:
Motivation: what drives the customer to adopt certain behaviors and generate expectations regarding the brand;
Attention: the focus of the consumer's concentration, that is, what is relevant to him among all the information he receives;
Connection: the devices and information that the consumer has at their disposal;
Time: the way in which consumers balance their available time and the events throughout their life. It determines the time they spend on their purchases and influences the channel they use, what they buy, among other important aspects of their behavior;
Wallet: the money you have available and how you decide to use it.
These 5 criteria have had to be adapted to the current context of the health crisis and to new consumer habits and attitudes. These changes are supported by the 10 main global consumer trends for 2021 , according to a study by Euromonitor :
1. Rebuilding for the better
Consumer attitudes in this new context are marked by greater social and environmental awareness. And how does this affect consumer purchasing attitudes? Well, consumers will value and reward companies that have purposeful initiatives and that contribute to building a better future .
2. Craving convenience
The COVID-19 pandemic caused a drastic change in the shopping experience , forcing consumers to change their routine, plan their purchases more , make reservations and adopt new digital channels as part of their consumption habits.
3. Outdoor oasis
The new consumer profile prefers open spaces and the outdoors. They want to escape from routine, get back to basics , be in a more rural environment, in contact with nature and away from crowds, which today represent a risk.
4. Phygital reality
This trend is a hybrid of the physical and virtual worlds, allowing consumers to live, work, shop and play both in person and online. Digital tools make it possible for users to stay connected, even when isolated from the outside world. The gap between in-person and virtual activities is closed. Digital transformation is taking place at an accelerated pace.
As a result of the pandemic, 40% of companies added a new customer service channel and 64% of customers used a new channel in 2020 , and 73% of them plan to continue using it , according to Zendesk's Customer Experience Trends Report .
5. Playing with time
As a result of new consumer attitudes, time management has become a challenge for both companies and customers. The culture of 24-hour service has been strengthened and consumers increasingly value their free time. In fact, for 51% of consumers “time for myself” is one of the top 3 priorities in life.
6. Restless and rebellious
A society marked by political and social dissent . There is a growing need to express oneself and to demonstrate. Social networks become a battlefield between information and disinformation.
7. Obsessed with security
New consumer attitudes regarding safety, hygiene and well-being have also been identified. Consumers now try to avoid physical contact as much as possible , and this not only influences the purchasing channel but also the payment method. Contactless payment methods are becoming increasingly important, with 20% of consumers using mobile payment systems on a daily basis .
8. Shaken and stirred
Adversity has led consumers to think more about their mental health and about living a fuller, more balanced life . The word resilience takes on an important meaning, and the definition of “good health” begins to lean more towards well-being. These new priorities are reflected in the type of products preferred, in the arguments that motivate purchase, and in general, in consumer attitudes towards responsible consumption.
9. Thoughtful savers
The uncertain economic situation has made consumers more measured and cautious with their spending . According to Euromonitor , this trend is leading them to adopt new purchasing habits and preferences, such as: preferring offers when shopping, being willing to buy second-hand items and adopting a minimalist style.
A study by KPMG argues that we are at a key moment to reconnect with our consumers , since the effects of COVID-19 not only altered the economy and businesses, but also drastically changed consumer behaviors and attitudes regarding the purchasing process .
In light of today's reality, it makes no sense to generate strategies based on consumer attitudes of the past. The consumer profile has changed and according to the aforementioned KPMG study:
80% of consumers prefer zambia email list
to buy brands that are aligned with their beliefs and values ;
37% of consumers are prioritizing the purchase of sustainable products and services , compared to their purchasing behavior before COVID-19;
90% of consumers are willing to pay more for a brand that is ethical and gives back to society .
Consumer attitudes and their influence on the purchasing process
The same research suggests 5 criteria that influence consumer attitudes and impact the purchasing process. They are:
Motivation: what drives the customer to adopt certain behaviors and generate expectations regarding the brand;
Attention: the focus of the consumer's concentration, that is, what is relevant to him among all the information he receives;
Connection: the devices and information that the consumer has at their disposal;
Time: the way in which consumers balance their available time and the events throughout their life. It determines the time they spend on their purchases and influences the channel they use, what they buy, among other important aspects of their behavior;
Wallet: the money you have available and how you decide to use it.
These 5 criteria have had to be adapted to the current context of the health crisis and to new consumer habits and attitudes. These changes are supported by the 10 main global consumer trends for 2021 , according to a study by Euromonitor :
1. Rebuilding for the better
Consumer attitudes in this new context are marked by greater social and environmental awareness. And how does this affect consumer purchasing attitudes? Well, consumers will value and reward companies that have purposeful initiatives and that contribute to building a better future .
2. Craving convenience
The COVID-19 pandemic caused a drastic change in the shopping experience , forcing consumers to change their routine, plan their purchases more , make reservations and adopt new digital channels as part of their consumption habits.
3. Outdoor oasis
The new consumer profile prefers open spaces and the outdoors. They want to escape from routine, get back to basics , be in a more rural environment, in contact with nature and away from crowds, which today represent a risk.
4. Phygital reality
This trend is a hybrid of the physical and virtual worlds, allowing consumers to live, work, shop and play both in person and online. Digital tools make it possible for users to stay connected, even when isolated from the outside world. The gap between in-person and virtual activities is closed. Digital transformation is taking place at an accelerated pace.
As a result of the pandemic, 40% of companies added a new customer service channel and 64% of customers used a new channel in 2020 , and 73% of them plan to continue using it , according to Zendesk's Customer Experience Trends Report .
5. Playing with time
As a result of new consumer attitudes, time management has become a challenge for both companies and customers. The culture of 24-hour service has been strengthened and consumers increasingly value their free time. In fact, for 51% of consumers “time for myself” is one of the top 3 priorities in life.
6. Restless and rebellious
A society marked by political and social dissent . There is a growing need to express oneself and to demonstrate. Social networks become a battlefield between information and disinformation.
7. Obsessed with security
New consumer attitudes regarding safety, hygiene and well-being have also been identified. Consumers now try to avoid physical contact as much as possible , and this not only influences the purchasing channel but also the payment method. Contactless payment methods are becoming increasingly important, with 20% of consumers using mobile payment systems on a daily basis .
8. Shaken and stirred
Adversity has led consumers to think more about their mental health and about living a fuller, more balanced life . The word resilience takes on an important meaning, and the definition of “good health” begins to lean more towards well-being. These new priorities are reflected in the type of products preferred, in the arguments that motivate purchase, and in general, in consumer attitudes towards responsible consumption.
9. Thoughtful savers
The uncertain economic situation has made consumers more measured and cautious with their spending . According to Euromonitor , this trend is leading them to adopt new purchasing habits and preferences, such as: preferring offers when shopping, being willing to buy second-hand items and adopting a minimalist style.