Changing consumer behavior and its influence on companies in 2024

The evolution of consumer behavior has always been guided by the various societal, technological and environmental transformations that have taken place over time. These developments have forced companies to constantly modify their offers and sales channels, and to innovate. Indeed, in a world where digital mutation is flourishing, omnichannelity has become unavoidable.

Recognizing these changes is one thing, but analyzing and interpreting them effectively and optimally is quite another. We're here to help you understand these new customer journeys, with the help of some highly revealing research results.

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Changes in consumer behavior from 2010 to 2020

1 - More responsible consumption

Environmental, social and societal concerns are now important motivations for consumers. Indeed, many buyers today are looking to consume better and less. They are more inclined towards fair-trade and organic products, for example.

• 66% of French consumers say that their purchasing decisions are influenced by the statements, values and actions of company executives. (Accenture annual report, Strategy Global Consumer Pulse Research released in 2019 )
• 67% of French people say they have changed some of their practices and 13% say they are doing everything they can to reduce the impact of their consumption, according to Ademe's 2019 Responsible Consumption Barometer.

2 - A more demanding consumer

Consumers have become increasingly demanding when it comes to service quality. In fact, according to Zendesk, 72% of French consumers want more efficient customer service, or risk switching to another brand. This rather radical purchasing behavior shows just how much more companies need to listen to their customers.

💡Good to know: 50% of consumers remember negative interactions from more than two years ago (Zendesk).

3 - A connected consumer

Today, 75% of French people are equipped with a smartphone, compared with 17% in 2011 (Médiamétrie). As a result, today's new consumer is connected all the time, and uses his or her smartphone first and foremost to access the Internet.

This is how " mobile first" came into being in 2015. This approach involves creating a site that is perfectly adaptable to smartphones. Companies have therefore understood that mobile applications and Mobile First represent a real performance lever.

💡 A Fevad/CSA survey shows that consumers use their mobiles in particular to:

• Research before purchasing a product or service (for 56%),
• Search and locate stores (for 52%),
• Find their way around a store, compare prices, read customer reviews, consult product specifications, etc. (for 38%).

4 - More personalized communications

Technological developments have considerably changed the way companies communicate . Social networks are therefore becoming the most widely used means of communication in the market.

💡 According to BDM, French Internet users spend an average of 5 h 37 per day surfing the web, compared with 3 h 27 watching television.

Indeed, as consumers become more connected, they become more receptive to personalized, digital communications. Inbound marketing has thus become a must for companies wishing to personalize their offering and place the consumer at the heart of their strategy and content creation.

💡 In 2020, 93% of companies that adopted inbound marketing had a real positive impact on their conversion rate. (Batiboost)

5 - Organic trends

Organic began to really permeate consumers' daily lives in 2010. The French market has become more democratic over the years, tripling its sales in 10 years from 3.1 billion euros at the end of 2009 to 9.7 billion in 2019.

According to Agence Bio key figures:

• 9 out of 10 French people consume organic products in France.
• In 2019, 71% consumed organic products at least once a month, compared with just 46% in 2010.

What influences consumer behavior?

Personal factors

Consumers' personal factors include all their socio-demographic elements:

• Age and family situation
• Occupation
• Location
• CSP (socio-professional category)
• Lifestyle
• Personality

These elements correspond to the consumer's fundamentals and core identity. This is the first step in understanding your customers. It's important to focus on them, because without the initial information, the rest of the analysis won't be optimal.

Psychological factors

Psychological factors are all the more important as they correspond to your customers' reactions and feelings. Understanding these factors helps you to understand how consumers react in a commercial context, so you can adjust your marketing and/or communication actions, and then deal with objections. They include

• Needs
• Motivation
• Disincentives
• Perception

The notion of "need" is essential to the development of an adapted offer. Maslow's pyramid establishes a 5-level hierarchy of needs to support companies in their sales initiatives.

👉 To find out how to collect consumer information, go further down the article to the section "How to analyze changes in consumer behavior?"

Environmental factors

Environmental factors have a major impact on consumer decision-making. They can include :

How can we analyze changes in consumer behavior?

All companies should ask themselves this question before defining their marketing mix strategy. Here are a few steps to help you do so effectively:

1. Define the target to be studied and then filter the research and sort the information gathered to keep only the most relevant.
   💡 Tip: You can use the buyer persona method, which will help you filter your target.
   
   
2. Gather information via several levers:
   1. Surveys
   2. Satisfaction surveys
   3. Focus groups
   4. Individual interviews
      
      
3. Interpret your results according to the subject of your study. Keep only the relevant information from your collection methods.
   👉 Example : If you're looking to understand the behavior of your shoe store's customers during the summer months, discard the answers you find for winter boots or wool slippers.

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Analyzing consumer behavior to boost performance

The evolution of consumer behavior therefore seems to be essential for companies wishing to optimize their global strategy around customer satisfaction.

👉 Analyzing a customer's evolving needs means anticipating new expectations and forecasting trends, two elements that represent a real opportunity for development and performance.