The Challenge Of Meeting Evolving Consumer Expectations
The needs of the consumer are ever-evolving. For example, millennial shoppers are looking for popular items and unique online experiences, whereas Gen Z shoppers are more inclined to shop in-store or from larger online brands. They’re also the generation most likely to spot new brands through digital channels, like social media. Thus, it’s easy to see that it’s hard to meet the needs of the modern-day shopper because the needs are so varied. Below, we’ll explore what brands can do to bring themselves closer to the customers to meet their needs.
What Consumers Expect From Businesses
Consumers expect nothing but the best from businesses, but each generation expects greatness to be delivered in various ways. But greatness embodies everything from problem resolution to top-quality products and services, so how can brands manage expectations?
A good place to start is understanding the needs of the consumers in the first place. Artificial intelligence (AI) has birthed numerous applications and software designed to do just that. 23% of all brands now use it to bring themselves closers to customers. AI has also helped brands achieve consistency, authenticity, and personalisation – something the modern-day shopper of any generation is looking for when choosing from a brand.
Other ways to understand what consumers expect from a business include market research such as surveys, understanding the shopping experience from their point of view, exploring pricing and marketing, and listening to complaints.
Getting Closer To Consumers
Getting close to the consumer in an increasingly digital world is tricky. According to Gartner, 91% of businesses are now fully engaged in some form of digital initiative. The downside is the digital world pulls the consumer further away from the brand. Humans are emotional shoppers, and they need to feel an emotional connection to brands – something in-person events are excellent at achieving. In-person trade and business events were on the verge of a virtual takeover, but 95% of exhibitors still believe in them. With the help of an event staffing agency, in-person events can be engaging and tailored toward the needs of the consumer and the business.
Ultimately, however, a consumer-centric approach is the best way to get closer to consumers. Finding ways to actively communicate with them, solve their problems, and deliver a diversified service without compromising the business is essential for brands to meet consumer needs.
The Compromise Between Business And Consumer
The issue with offering diversified services and focusing on a consumer-centric approach is that it can compromise the needs of the business in the process. For example, one of the relevant compromises companies are making at the minute is price increases related to the 40-year high inflation rates in the UK. The needs of the business outweigh the needs of the consumer’s expectations of affordable prices.
In general, however, businesses must find a way to balance the two needs. As a general rule of thumb, brands should focus on in-expensive ways of meeting consumer needs, such as offering personalised experiences through loyalty programmes, marketing through multiple channels, solving issues quickly, and communicating effectively. There are numerous ways for brands to meet consumer needs without breaking the bank or changing business strategies.
The consumer is a demanding human. The consumer wants brands to give them what they want, understand what they want, and deliver perfection. There are numerous online articles that discuss the ever-changing needs of the consumer and how to meet them – any business will benefit from exploring the topic more.