Digital Business: Trends & Consumer Insights


Consumer behaviour is changing at a lightning pace, and as the digital landscape evolves, businesses who wish to be successful in their endeavours need to undeniably understand the social media consumers they wish to target. Not only do they have to be proficient in knowing iConsumers characteristics, but also the significant trends they partake in. McKinsey & Company, a management consulting firm identified 6 significant shifts in the way consumers use digital platforms:

 

                                    Devices: From PCs to mobile and touch devices. 

                                    Communications: From voice to data and video. 

                                    Content: From bundled to fragmented.

                                    Social media: From growth to monetisation.

                                    Video: From programmed to user driven.

                                    Retail: From channel to experience

The identification and deeper examination of these trends can help businesses to stay current and up to date in the competitive digital commerce world. The shift from consumers computing time being predominantly spent on PC’s to mobiles and tablet devices, indicated that businesses should re-evaluate the media platforms which they use in their digital marketing strategies. Additionally, the shift in consumer communications from voice to video further reinforces the need to re-evaluate the platforms businesses use.

Using Instagram as a primary platform to engage with consumers has become reasonably popular in the modern digital age. Gymshark, a UK based fashion brand is a fairy-tale example of the tremendous success a business can have when they properly understand the way their target market uses social media and by staying up to date with social media trends. Gymshark utilised Instagram and the perks of having celebrity influencers market their products to grow their business exponentially. They understood how their intended target market consumed social media and created a digital marketing strategy that best fit the needs and wants of their consumers.

 

How Gymshark grew by 200%+ year on year and hit £41M in sales ...

They also saw the shift in how social media users wanted their content and spread their marketing out over multiple platforms all available and optimised for mobile devices, as many gym goers use their phone while at the gym. Gymshark has even used Spotify to engage with their consumers.

What future shifts in digital trends do you think will happen and what shifts of your own have occurred?

 

Comments

  1. AshBAugust 5, 2020 at 5:53 PM

    Good post Louis! Going off your example of Gym Shark, more businesses may look at their success and adopt similar strategies to appeal to more customers in the future. As the current and future world of marketing is rapidly becoming more online, businesses will adapt to these trends. My shifts have definitely been using my phone more often! And ultimately being exposed to soo much marketing bring promoted online.

    ReplyDelete
    Replies
    1. Louis FrancisOctober 14, 2020 at 1:48 AM

      Hi Ash! Thanks for you kind words. I agree businesses will have to adapt to the ever changing landscape like they always have but at a more rapid rate due to technology. I am definitely using my phone more too but am happy with the level of marketing i am presented with!

      Delete
  2. UnknownOctober 14, 2020 at 12:36 AM

    Great read Louis ! In the future, everybody will definitely be moving to online shopping more and more. I feel like its actually happening right now. Everybody will be relying to shop more and more at the comfort of our homes. Shifts that occurred to me recently is definitely using my smartphone more and more as it has everything on it, whether it be an alarm clock, maps, ubereats. etc.

    ReplyDelete
    Replies
    1. Louis FrancisOctober 14, 2020 at 1:49 AM

      Hi there and thank you! Online shopping, especially with the Pandemic is become more and more used. I'd be very surprised if it didn't overtake retail shopping, plus it's exciting getting a package in the mail! I too am using my phone more and use everything you stated!

      Delete
  3. UnknownOctober 14, 2020 at 12:38 AM

    Great post Louis! I love how Gym Shark teamed up with Spotify and created something that everyone could benefit from! With COVID showing us just how much an online presence can blossom, businesses are definitely going to start upping their game online! As much as I love this now, I definitely miss the physical aspect of shopping and receiving promotions from actual people.

    ReplyDelete
    Replies
    1. Louis FrancisOctober 14, 2020 at 1:51 AM

      Hi unknown! I too miss some aspects of retail life but only for immediate consumables and trying on new clothes! Besides that everything else online is a blessing! Hopefully things will be back to normal soon!

      Delete
  4. mrfunny14October 14, 2020 at 3:57 PM

    Great blog as always! I have been following the Gym Shark story quite closely so I was interested in reading that they teamed up with Spotify. I truely believe that the retail landscape will be permanently changed, but also believe that it can never be replaced - it will just have to evolve!

    ReplyDelete
    Replies
    1. Louis FrancisOctober 15, 2020 at 7:25 PM

      Cheers mate! I agree the landscape is changing but there will always be a need for retail. The evolution of the retail landscape will be very interesting!

      Delete

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