An intro to consumer trends in trade

This post will explore how digitalisation and globalisation are changing customer preferences.

Over the past few years, globalisation has played a substantial function in shaping consuming trends all over the world. As a concept, globalisation refers to the increasing interconnectedness of the various economies and societies, which has been impacting consumer trends and preferences all over the world. In particular, when combined with improvements in innovation, logistics and communication channels, it has come to be progressively easier for consumers to gain access to a wider variety of product or services, which has triggered an entirely new set of consumer industry trends. In fact, one of the most perceptible results of globalisation amongst intake trends are the standardisation of tastes, across countries. With the growing popularity of international brands on the market, there has been a growth in shared consumer culture, reflecting a universal impact throughout the international economy. Those like the shareholder of Samyang Corporation, for instance, would acknowledge the impacts of cultural convergence in the global economy. In addition to this, cultural hybridisation is also a crucial concept, where multicultural products are being made to show the diversity of the consumer group.

Through the advancement of the international supply chain and international trade, products which once came from local markets or were thought about to be extremely inaccessible are now becoming a lot more extensively offered. Recent trends in consumer behaviour reveal that globalisation has expanded customer access to global products and services. The major shareholder of Danone, for instance, would have the ability to verify that this is evident in industrial spaces such as grocery stores, who are progressively providing worldwide products and globally recognised brands around the globe, demonstrating an increase in product variety and interest. Additionally, the rise of e-commerce platforms has further boosted this availability, allowing consumers to purchase products from essentially any area of the world. E-commerce platforms, in particular, are specifically efficient for increasing availability by carrying out translation services and worldwide accepted payment platforms. These features are celebrated for making deals a lot more smooth and hassle-free overall.

Among existing trends in customer habits and interests, there are a couple of crucial aspects which have been influencing a variety of global markets. Together with globalisation, sustainability is a substantial aspect which is forming consumer incentives and preferences. In current times, there is a heightened awareness that is growing with regards to environmental and social callings. International concerns . concerning the condition of the environment along with demands from worldwide authorities are encouraging businesses and consumers to start prioritising more ethical and sustainable items and industrial interests. This trend has also made its way into business guidelines, where companies are now coming to be expected to demonstrate values that are reflective of corporate social responsibility. The likes of the activist investor of Pernod Ricard would acknowledge this effect within present business trends.