Understanding the trends shaping consumer behavior can help establish your business goals and guide your marketing efforts. Plus, showing you’re knowledgeable when it comes to what is hot in the market positions you as an expert that your customers will return to time and time again.
From personalization to inclusion and private label brands – here are our top 5 buying trends to watch in 2020.
1 – Shopping through Social Media
It’s a simple concept – the best way to stay connected with customers is to be sure any changes make things better for them. Gen Z (who makes up 27% of the US population) are more likely to use brands and shop with stores they see online, but they want the experience to feel seamless and convenient. (1)
Many social media platforms are making it easy to sell directly on social pages with built-in embedded links. Customers can click through a brand’s post and land on a product page, increasing the likelihood of impulse buys through social ads. (2)
2 – Powerful Personalization
In this industry, we all know how an item imprinted with a company logo can make a big impression on both the advertiser and the end user. But in 2020, consumers are looking to take it to the next level with even more customization. Brands who take time to learn about their customer can build a catalog of tailored products that cater to their specific audience. (3)
Health/wellness products and golf items are popular for this type of customizable product. Focusing on heath needs and goals items like custom scents, deodorants, workout gear etc. can add more power through personalization.
Writing instruments are another area where personalization can pack an added punch. Try a modern writing instrument with a customizable grip that complements the imprint to remind people of your brand every time they pick up the pen. Just contact the BIC Graphic Quotes Team to learn more about custom items.
3 – Inclusivity for All
Diversity and inclusion are a focus across every industry today but when it comes to purchasing, consumers want to see where companies stand through their products and campaigns. Those consumers embrace inclusivity and are actively looking for brands that demonstrate diversity in what they offer and in their corporate culture. As many as 70% of Millennials name inclusivity as a key component of selecting one brand over another.
As you promote your own company, be sure to think beyond your usual target demographics, and use the diversity of your customers to inspire your efforts. Inclusivity is more than just a trend, so create campaigns that consumers will see as authentic and reflect the world’s diversity. (4)
4 – Increased Focus on Reusability
When it comes to sustainability, shoppers report that they want to do something to help the environment, but when that action inconveniences them they change their mind. To ease this sense of burden, 100% recyclable or reusable packaging is moving into the mainstream. In fact, recycling company TerraCycle recently showcased its “Loop” shopping service to deliver commonly used items with only recyclable packaging. Twenty-five big names have already signed on to join their efforts including Coca-Cola, UPS, PepsiCo and Unilever to name a few.
Promotional items like tote bags and drinkware clearly support reusability. The twist that consumers want now is that they want those promos to look retail – and they’re willing to pay a little more for sustainability elevated. (5)
5 – Private Label Brands
Taking another cue from retail, major players like Amazon are making significant investments in private label brands. Offering their own private labels helps deliver exclusive products that honor consumer diversity and build loyalty. (6) In turn, this exclusivity establishes a competitive advantage as 53% of consumers use store brands to determine where they shop.
According to Forbes, there are four key reasons private label brands are growing:
- Better value, not just cheaper price
- Owners/suppliers have a broader view of what consumers want
- Simplified choices to make purchases easily identifiable and faster
- A noticeable shift from brand loyalty to store loyalty
As a promo distributor, introducing brands to your clients can help them build robust campaigns or guide future purchase decisions. If they find success with a promotional item from brands like Atchison®, Triumph® Calendars or JAFFA® they are more likely to seek out products from that brand for their next order.
Visit us at bicgraphic.com to shop the latest promo products, and let us know how you’ll use consumer buying trends to shape your business in 2020.
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