Businesses should notice these consumer trends

New Consumer Needs Will Knock Some Products Off Shelves Forever

While other products are suddenly selling super fast.

A recent conversation with my kid inspired me to study the fluctuations in the world’s economy. In my quest for understanding how businesses will operate shortly, I learned a lot.

As people adapt to the ever-changing world we live in, the things we need, and the tools we use to meet those needs are constantly changing. Businesses that pay close attention to the daily lives of consumers will hold a strong position even in times of economic hardship.

The conversation that kick-started my awareness of consumer trends:

Not long ago my family was having dinner, and I noticed that my 13-year-old boy appeared taller than me, even while sitting down. I am not a tall woman, so observing my son towering over me was not shocking. I commented that I might sit on a phone book for our next meal, to be as tall as everyone at the table. To my astonishment, my boy replied:

“What’s a phone book?”

I thought when my son asked what a phonebook was, that he was kidding. He was genuinely puzzled. I explained that phones weren’t always made with the internet, and the information we used to need came from paper books only. I actually had to explain that a phone book is a rather large book commonly used as a booster seat for short folks, like me.

Had he never even seen a phone book? It had never occurred to me that this bulky book is on its way to extinction. It does make sense though. Why waste that much paper and ink when everyone just taps a button on their mobile device to easily find the same information?

After having an eye-opening conversation with my son, I was inspired to look at the changing world economy to explore the possibilities for future business endeavors.

Once I started looking for patterns in consumer behaviors I referred to the way things used to be, so I could identify outdated notions. I thought of the old phone book days and I was amused. When my mother first taught me how to use a phone book she explained that businesses think they are clever by naming themselves something starting with a letter A. This made sense when phone books were the way to be found by consumers. Phone books were presented in alphabetical order, so a name such as Angelic Art or All Shiny Car Wash would be found before Barneys Book Barn or Cranberry Pie Shop.

Now that phone books are starting to disappear, I bet the businesses with names like A+Storage Bins and A1 Stud Boys will be seen less. Our mobile devices offer us business information based on proximity more than anything else. This means that businesses should name their shops with a more literal name, to be found quickly while a potential customer is on the prowl.

A woman who needs to get her shoe repaired is likely to search for “Shoe Repair”. It would be beneficial for vendors and business owners to consider names that tell the consumers what they can expect to buy at their establishment. A shoe repair shop named “AAA Shoe Repair” can now safely remove the unnecessary triple-A without losing the perceived benefits of being first in the line of results. The closest shoe shop will win the first position in modern searches, no matter the name.

Instead of a name like “Alice’s Wonder”, a psychedelic themed restaurant might be better off with a name like “Far Out Burgers” because it makes their product more likely to be found by people searching for lunch.

A tavern called “Lucky Luke’s” might consider renaming to “Lucky Lukes Bar and Grill” to gather the hungry and thirsty people who are looking for exactly what “Lucky Luke’s Bar and Grill” promises.

Keep an eye on changes in consumer wants and needs

The more time that passes the more we see the landscape of businesses changing. As consumers, we want entirely different things than we did just a year ago. Such is the nature of the fluctuating human condition. Businesses and vendors should take notice of what the current consumer needs and wants the most. A valuable resource for this information is found here:

Here are a few examples of current consumer trends that will soon become a spike in sales for the providers of these products.

• The plexiglass industry is having a moment Across the globe sneezes and coughs are held at bay by these heroic plastic planks. Somewhere there is a business that has seen its first boom…ever. The custom plexiglass industry is suddenly booming thanks to the sense of security that the clear plastic barriers provide. This small shield (apparently) signifies to consumers that it is safe to transact in person again.
• The protective face-mask industry is having a moment Protective face masks are another popular type of cough-blocker flying off virtual retail shelves.

• The Bidet Industry is having a moment This funny article may or may not be partially to blame for the rise of this (newly) popular toilet paper alternative.

• Plumbers are having a moment For those who did not figure out the secret bidet trick during the toilet paper shortage, there may have been an unexpected problem with their plumbing. Some people had desperate moments where a t-shirt became their substitute for toilet paper, and thus, their plumber got the call soon after that the toilet needs repair. I bet business is solid for the plumbing industry right now.
• Every company willing to deliver their product is having a moment With many people staying home for extended periods delivery services are probably staying afloat in terms of attracting customers.

As people adjust to the shifting tides of modern living, the things we need will change frequently. Businesses that cater to the consumer’s current demands will hold a strong position, even in times of economic hardship.