What are the changing trends in Consumer Behaviour?

  Customer Profiles build profitable businesses The starting point of a service is always the customer. The customer is a person who will exchange monies for your goods or services. To be able to decide who you should target as a customer it is first important to understand what is the  customer profiles  you are targeting.    The key stakeholder, who needs to understand in depth what customer profiles mean, is the Business Head.  Demographic data is a shallow way of looking at a customer profiles. Just data, as is available on the age , sex and income profiles of residents of different geographies is not an efficient way to understand how to make your business more profitable or for that reason, even to answer the question of what should be the target markets while you establish your business.    Imagine building a business plan for a new processed food item in the premium pricing segment.  It is important to understand not just the age , sex and income profiles but also need to under

  “Data analytics made easy with expert insights and cutting-edge tools. Get actionable insights from your data and drive your business forward with our comprehensive data analysis services.” As a profit centre head one of your central challenges is to target the correct customer who has the potential and the affinity for your product category. The question that comes to a business person’s mind first is – is the data precise ? Does it have  Individual residential building precision? In this maze of urban growth and disparate multicultural communities , it is challenging  to trace, where the true potential for your product lies. In case of the Banking & Insurance sector, this could be income levels as well as the capability of understanding the investment product needs, whereas in case of Consumer services and goods it is more a matter of a  lifestyle affinity segmented target audience. And consumer  preferences  change, not just within the cities or suburbs or from PIN Code to PIN

  Digitalization has transformed the way our world works, and the retail industry is not far behind. The impact of the transformation can be seen in the dramatic evolution of the way consumers shop, consumer behaviour and make purchasing decisions. With e-commerce, social media, and extensive use of mobile devices, consumers today have more access to information and choices than ever before. In India, this evolution of the consumer has been particularly pronounced, with the   country’s e-commerce market  expected to reach $200 billion by 2026. In this scenario, understanding the changing consumer landscape and evolving consumer expectations has become a non-negotiable for businesses. With multiple digital touchpoints generating volumes of consumer data, one of the ways you can address this issue is by leveraging  big data analytics  to gain insights into consumer behavior and preferences. These insights can help retailers to gain a deeper understanding of their customers and tailor the

  The post pandemic years have created a new lifestyle for the Indian consumer . This  has in turn changed how the consumer shops, and what the consumer purchases. Understanding this change in   consumer behaviour   has become even more critical for new brands in the market as well as established brands. The same customer has a different set of choices now and has learnt newer ways through different channels to fulfil her choices. The huge jump that we have seen in smartphone usage has influenced when and how consumers make purchases. This has led to the biggest change in consumer behaviour. When looking for a consumer need, the phase of discovery itself has thrown up a wide range of options. All it takes is a simple smartphone search that will give them a wide range of options, that can help cater to their needs. And the detailing about the product is now much more elaborate. An interest piece of information that 90% of online buyers discover their product on YouTube. This itself amoun