The year 2022 has been described by many as a year full of promises and high expectations. Though, the year started with many challenges inherited from the previous year (2021), many analysts are of the opinion that experiences in the First Quarter (1Q) will take a significant role in dictating consumer behaviours this year.
Interestingly, Brand Impact’s Intelligence Unit came out with the following top five consumer trends for 2022.
Consumers will buy what is easily available around them. No doubt, consumers will buy what is easily accessible to them, meaning brand custodians should make sure that their brands are easily seen and reached.
They will listen more to peer recommendations. The influence of peers will be so pronounced in the decision making of the consumers this year. The fact that no consumer is ready to waste his or her scarce resources dictates that brands should have the interest of the consumers at heart by making sure that consumers get value for their money.
They will become less emotionally attached to brands- The consumers will go all out this year to purchase any brand without emotional consideration. This is so because of scarce liquidity which they must spend wisely.
They will jump at every next available brand that satisfies their want: What will also determine consumer decision this year is availability of brands. If a brand is of good quality, but many kilometers away from the consumers, such brand will continue to gather dust on the sellers’ shelves without any patronage.
They will seek for more quality alternatives: Quality is the backbone of any business. Brand custodians and marketers need to make sure that brands coming out of their factories this year are of great qualities. There must be an understanding of the fact that there are many brands fighting for the market share, and what the consumers will be looking for this year are quality brands that will commensurate with their expenses.