This article will check out how digitalisation and globalisation are changing consumer preferences.
Over the past couple of decades, globalisation has played a huge role in shaping consuming trends all over the world. As a concept, globalisation refers to the increasing interconnectedness of the different more info economies and societies, which has been affecting consumer trends and preferences across the globe. In particular, when integrated with improvements in innovation, logistics and communication channels, it has become significantly easier for customers to gain access to a broader series of services and products, which has triggered a completely new set of consumer industry trends. In fact, one of the most noticeable effects of globalisation amongst usage trends are the standardisation of tastes, throughout countries. With the growing popularity of global brands in the market, there has been a growth in shared customer culture, showing a universal impact throughout the worldwide economy. Those such as the shareholder of Samyang Corporation, for example, would acknowledge the impacts of cultural merging in the worldwide economy. Along with this, cultural hybridisation is also an important principle, whereby multicultural items are being made to reflect the diversity of the customer group.
Amongst existing trends in consumer practices and interests, there are a couple of important aspects which have been affecting a range of worldwide markets. Together with globalisation, sustainability is a big factor which is shaping consumer incentives and choices. In recent times, there is an increased awareness that is growing with regards to ecological and social callings. International concerns concerning the condition of the environment in addition to demands from worldwide authorities are encouraging businesses and customers to start prioritising more conscientious and sustainable items and industrial interests. This trend has also made its way into business guidelines, where business are now coming to be expected to show values that are reflective of corporate social responsibility. The likes of the activist investor of Pernod Ricard would recognise this effect within current commercial trends.
Through the improvement of the global supply chain and international trade, products which once belonged to local markets or were considered to be highly inaccessible are now becoming far more extensively available. Recent trends in consumer behaviour show that globalisation has broadened consumer access to global items and services. The major shareholder of Danone, for instance, would be able to verify that this is evident in commercial spaces such as supermarkets, who are significantly providing worldwide items and globally recognised brand names around the world, demonstrating an increase in product variety and interest. In addition, the increase of e-commerce platforms has further enhanced this availability, enabling consumers to buy items from virtually any part of the world. E-commerce platforms, in particular, are particularly reliable for increasing accessibility by introducing translation services and globally accepted payment platforms. These features are commemorated for making transactions much more seamless and hassle-free on the whole.