TrendSights Analysis: Smart & Connected - Digital-Informed Consumption

TrendSights Analysis: Smart & Connected - Digital-Informed Consumption

Summary

The availability of information through online platforms has increased consumer awareness. As consumers become increasingly informed, shopping decisions are impacted and evolve to suit the world around them. Consumers now have instant access to comparisons of price, product quality, and brand ethics. This report will explore the impact of online lifestyles and how they will evolve as internet penetration continues to increase.

Scope

• Continually improving technologies and online platforms allow consumers to access greater amounts of information instantly from any location.
• Growing distrust of companies, particularly multinationals, along with higher expectations, drives consumers to be well-informed.
• Greater internet penetration is enhancing the scope and reach of consumers.
• Digital-informed shopping is driven by social, health, and economic concerns.

Reasons to buy

• Ethical - Awareness of pressing environmental and ethical issues pushes consumers to be conscientious shoppers. Consumers are becoming more interested in production processes and ingredients, which have become very influential upon product choice.
• Health - Health concerns prompt consumers to be better educated about product formulation. This includes a heightened awareness of ingredients as well as sugar and calorie content.
• Economic - Stagnating incomes and economic uncertainty mean consumers have a higher propensity to save. Consumers are compensating by seeking better deals and better value through online comparison platforms.