When analyzing consumers' shopping decisions and purchasing behaviors, their demographic structures, life factors, their environment, and the needs, desires, and demands of the social culture they feel they belong to should be taken into consideration.
Brands should define all stages in their customers' purchasing journey when creating their marketing and sales strategies.
In his study, " How Brands Grow? What Marketers Don't Know, " Brown Sharp divided consumer behavior into old worldview and new worldview.
According to Euromonitor International's 2022 Global Consumer Trends report, there are eight different global consumer types.
It's crucial for companies to understand their customers at this stage to increase sales conversion rates and customer loyalty. Knowing your customers well is directly proportional to following them across all channels and analyzing customer data accurately.
According to Euromonitor International's 2022 Global Consumer Trends report, there are eight different global consumer types.
(Place in the Global Consumer Population)
They do not like impulsive shopping.
(Place in the Global Consumer Population)
They develop spending habits that are focused on the experience and image of the brand rather than the product itself.
(Place in the Global Consumer Population)
Ecological and ethical products are at the top of their list of preferences. They tend to shop from brands whose ideologies they embrace and trust.
(Place in the Global Consumer Population)
They tend to trust prices.
They do not like impulse shopping and do not like to visit stores unless they need to.
(Place in the Global Consumer Population)
They reward themselves frequently.
Even if they're not shopping, they love to browse stores.
They prefer to shop on social media.
(Place in the Global Consumer Population)
They have a less frequent impulse shopping culture.
They like to bargain and prefer fewer but high-quality products.
(Place in the Global Consumer Population)
They have a less frequent impulse shopping culture.
They do not look for strong and well-known brands.
It's crucial for companies to understand their customers at this stage to increase sales conversion rates and customer loyalty. Knowing your customers well is directly proportional to following them across all channels and analyzing customer data accurately.