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Impact of consu

Consumer behavior significantly influences technology trends, driving brands to adapt and personalize their offerings. The shift towards digital platforms has transformed purchasing decisions, emphasizing the importance of accessible information and unique customer experiences. Brands must leverage new technologies, such as cloud computing and IoT, to respond effectively to evolving consumer needs and optimize growth.

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4 views2 pages

Impact of consu

Consumer behavior significantly influences technology trends, driving brands to adapt and personalize their offerings. The shift towards digital platforms has transformed purchasing decisions, emphasizing the importance of accessible information and unique customer experiences. Brands must leverage new technologies, such as cloud computing and IoT, to respond effectively to evolving consumer needs and optimize growth.

Uploaded by

Yishak Shawul
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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Impact of consumer behaviour on technology trends

July 15, 2022, 3:30 PM IST Sanjoy Bhattacharya in Voices, India, TOI

Director Sales & Marketing, IT Business, ViewSonic India

Technology is playing a crucial role in empowering the consumer by providing them limitless access to
information. Products and services are readily available at the touch of a button. As consumer behaviour
trends grow in speed, brands must evolve to keep up with them. Through their actions and choices,
brands play an active role in establishing customer preferences. The impact of consumer behaviour has
changed the way brands operate, which has resulted in a large amount of e-commerce and online
marketplaces.

The advent of digitisation and the emergence of marketing through digital platforms, vis-a-vis offline
marketing have changed consumer experiences, which further demands evolved use of technology.
Some of the trends which are driven by consumer behaviour are:

Personalisation

People want to interact with people, pieces of content, or software that give them the impression that
their preferences and interests are being considered. The constant increase in awareness of latest and
unique has given rise to personalisation. A lot of companies use personalised technology or products like
monitors and other gadgets which are custom–made as per their needs.

Ease of access to information

A decade back, buying decisions were based on advertisements, word of mouth and past experiences.
However, the choices are now made on the basis of the information of product or service available on
the search engines. The more presentable and effective the information is, the more impact it will make
on the purchase decision of the consumer.

Creating an experience

The customers not only look forward to uniqueness in a product/ service or technology, but they also
rather demand an experience which can leave an impression on their minds. The brands are using
technology as their pillar of support to create such experiences with new trends like AR and VR.

Moment optimisation

The customer journey has changed dramatically since the lives have become connected and the
introduction of smart gadget and, with them, micro-moments. Consumers make decisions faster than
ever before and find the information they need in even less time. Chances that a customer has already
made up his mind to buy a certain product is greater than 90 % to any channel whether it is offline or
online. It is no longer a straight line from A to Z via B, C, D, and so on. This journey now includes
hundreds of different stops where we visit apps, social media, and websites. Since the customers are
living in the moment, the brands, therefore, are using these moments through various technology
trends to make the most of moment specific impulses of the consumer

New communication channels

Responding to consumer needs and behaviour through emails and phone calls is a thing of the past.
With the advent of new platforms owing to the evolving technologies, it has become imperative for the
brands/companies to create a recall value for their products and services on these platforms as well.

Cloud technology, IoT and Big Data

The evolving behaviour of the consumer has also led to the integration of some of the latest and biggest
technology trends. Cloud computing enables businesses to track consumer behaviour like never before.
Sharing, storing, and outsourcing have all become significantly easier in recent years. Data on the cloud
provides businesses with full-scale data to analyse purchasing behaviour and improve algorithms to
better serve their customers.

Responding to the consumer’s behaviour innovatively and creatively is the need of the hour and hence,
the brands should be able to strike a balance between the right technology and the needs of the
consumer to be able to stimulate and retain the consumer and optimise the growth.

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