Trends in consumer behavior

Nowadays it’s very popular to follow trends and customers buy things that are trendy. A good example of a trend is a smartphone, almost everyone has it and uses it every day. Technology brings more and more trends all the time.  In addition to that smartphones are taking over the world and their users are increasing fast, another big invention and powerful trend is Ipad and other tablets.  So, in other words, trends are everywhere and people also follow them and they influence a lot their buying behavior. When something is a new hit, it will sell and people will buy it because other people also have it and they are trendy.

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http://en.wikipedia.org/wiki/Tablet_computer

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http://www.cnet.com/iphone-5/

In addition to technology, “going green” is becoming more and more popular, and consumers want to buy eco products, products that are eco-friendly. With
increasing concerns regarding protecting the environment and dwindling natural
resources, people have begun considering their buying behavior more. This has
brought remarkable changes in consumer behavior and consumers are paying more
attention to green products.  Examples of green products include among other things recyclable paper products and low-pollution things. These products satisfy consumer needs and are environmentally friendly because they reduce energy or resource wastage and minimize the use of toxic materials. According to Muhtar Kent, chairman and chief
executive of the Coca-Cola Company, the world’s population will reach 8.3
billion by 2030, so the demand for food and energy will also rise by 50% and
fresh water by 30%. Because of this, sustainability is simply smart
business, states Kent in his viewpoint in BBC’s Business News.

(http://www.bbc.co.uk/news/business-18503627)

ee           Round stamp with text: 100% Eco Friendly

http://nvate.com/5827/greenwashing/

More and more people are also paying attention to what they eat and they want to buy
organic food or locally produced food. A new fast growing trend is fitness
living and lifestyle which includes very strict and healthy diet. That has an
effect on consumer behavior, when people start to buy healthy products and
especially high-protein and low-calorie products. People who follow this
fitness lifestyle, often want that the food they buy is also organic food
because it’s mostly healthier than normal products.

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http://starnaudfitness.com/recipes-and-nutrition/

http://bloginfozz.blogspot.fi/2012/05/diet-and-fitness-information-random.html

But if you think from the company’s perspective, green products have a little disadvantage compared with other products on the market because the costs of producing green products are usually higher. If companies want to keep their business in balance by doing both environmental protection and making profit, they must understand their markets, customers’ green consumption behaviors, and the relationship between lifestyle and green consumption behavior. Like this companies can have a better segment in their markets for more effective marketing. Because of the growing awareness of environmental and ecological issues, some consumers are willing to pay more that they can help protecting the world.

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http://insulationestimatesblog.com/?tag=green-fiber-insulation

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http://www.digux.com/tips-to-go-green/

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One Response to Trends in consumer behavior

  1. janni says:

    This is a great topic to discuss in a world of global warming, following sustainable and environmental friendly production trends. Following trends is one of the most common things to do. It doesn’t matter if one follows the latest fashion, food or technical trend. I can just agree with you on this one. But following trends is also expensive and therefore always connected with money and opportunity costs. Do I buy the latest iPhone or do I go on a two week vacation trip? I think it is the same with “green food”. Do I buy the environmental friendly products or the usual, well- known ones that taste the same, but cost less? I think there are a lot of people who want to support the whole “going green” process and following trends, but just cannot afford it.

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