CURRENT TRENDS IN CONSUMER BEHAVIOR

BY : PRASHANT RAGHAV

In the past several years nothing was predictable but

consumer actually were. Consumer Behaviour trends has changed over a
period of time ,although situation was different .Now a days ,Marketers are
coming out with their new innovation, ideas and comfortable business
models to catch a large number of customers. Because the way of buying
pattern by the people has changed due to various reasons. So the knowledge
of the needs and wants of a consumer helps business/marketers to create
marketing strategy that gives them advantages. Businesses/marketers are
more concerned towards that – what their customer want and trying to
provide high satisfaction through their many endeavor. Today consumer is
richer and having a vast variety of goods and services available at market
from which they get a freedom to choose and purchase of goods and services
as per their choices, taste and preference, conditions or purchasing power for
their satisfaction. In order to be successful or to meet customer demand
business may not only focus on the current trend but also keep track on the
possible future trends and mold themselves as per that.
Presently the consumer behaviour and their buying pattern has
changed because of quick adaptation of changing reality & change in their
decision making process. A consumer is becoming a specialist in
purchasing as their knowledge has increased , diversity in markets , change
in livelihood & the internet. In today's scenario people are liking
personalized product and share their feedback or opinion with other
customers and wants to follow the latest trend. In the 21st century they are
well aware about brands ,their right and having a rational attitude towards
the offers. The major reason for change in the consumer behaviour trend is
buyers are looking more for authenticity and are being independent.
 The consumer become more attentive towards the
environment as they are more conscious whether the
packaging is recyclable or not .
 Consumers are more concerned to choose native product
as to support the nation and their people by making their
purchase of items which are made in India : vocal for local.
 Virtual shopping has become most easy and flexible
model of buying goods and services made over the internet
as one is having a wide range of goods and services to
choose.
  The closeness to the nature by the people are on the
higher Path, consumer are more willing to spend their hard
earned money on purchasing safe, organic and eco-
friendly product.
 After pandemic situation consumers are more conscious
about their health, physical and mental condition. And they
want to diagnosis and cure diseases as their own so that’s a
great opportunity to the businesses.
These trends shows that the consumers buying pattern as a
purchasers on the market of goods and services are changing and becoming
the personal of shopping preferences and lifestyles.
Over the years , changes in the buying behavior of consumer
has changed because of economies operate. Knowledge of change in
consumption and consumer behaviour is not important only for the business
but also for the customers. As it provides businesses to discover a new
opportunity as well as new markets. And also help customers by giving them
value in forms of goods and services which led to increase in Lifestyle.
Change in consumer behaviour helps consumer to be more open , idealistic
or innovative to satisfy their needs and wants. Consumer behaviour is an
important part of any economy and main factor behind its growth. Consumer
behaviour participate in the process of economic and social development of
the nation too.