It takes about two months, precisely 66 days, for someone to adopt a new routine, inculcate them in our behavior and continue doing it when not coerced. But the Coronavirus pandemic is not even at its peak and the populace has already changed their lifestyle in such a way that it will have long-lasting meanings in their lives.
Needless to say, consumers' behavior, choices, and preferences are dynamic in nature. Keeping this in mind, when there is a drastic change in their lifestyle behavior now, is certain to profess an influence on their technological attitude.
Here's a list of top 10 emerging consumer trends that were looked years away from the mainstream, but now feel primed to become totally normal in a matter of months.
Virtual Experience Economy
It is the renewal of the experience economy and will speed up the merging of digital & live events in 2020. The latest innovation in this field is by the popular French game Assassin's creed that offers guided tours of ancient Egypt.
Live Stream Shopping
Live streaming meets Shopping. Two of Asia's biggest waves- E-commerce and LIVE streaming are merging. The latest invention in this term is that Amazon launched a new website that is Amazon Live, which delivers live streaming videos of products from various brands.
Quite apparent, as people are becoming rooted in digital assistants and artificial conversation entities, their expectations will evolve with time. Some people will start to look at virtual personalities that have the ability to entertain, educate, befriend, and heal. For instance, the latest invention in this field is made by Samsung- The Neons, Neons are digital avatars that are more human than humans and will blend in perfectly with real people.
In the time of the pandemic, people are dominating to reach for hand sanitizer. But, as time flies, they’ll become less hygiene conscious yet fastening their thinking to become safe and well will be stronger than ever. Hence, it will be a great opportunity for manufacturers of health & wellness products such as air purifiers technique for the expansion of their business.
Mentor Protégé Relationship
People are spending mindless hours online but many of them would prefer to use some of their time productively, and so will accept platforms that connect them with experts and mentors to learn new skills. So in this queue, an online language learning platform Duolingo offers language learning gaming stream to learn new languages while playing games.
E-commerce which is developed for buying and selling products online will fade in the coming years, maybe by 2021. The reason behind it is the change in consumer behavior and the power of automation. The new trend that is emerging and will replace E-commerce is A- commerce i.e. Automated Commerce. It means in the future, machines, and robots will be used for selling and delivering products, for tracking changes in the human body in short, for fulfilling all our desires.
Burnout is the situation of mental fatigue. Coronavirus is the new string in the chain of a public health crisis, due to which people are facing mental anguish. Hence, it will be a great opportunity for any organization that can innovate measures for improving people's mental health.
Open-source software is a kind of computer software made to enable the study and distribution of any source of information or even software with anyone and for any person. In this time, when the crisis of Coronavirus is the most urgent transnational, it has reminded people that the best organization will be those who collaborate genuinely with others.
During this pandemic, when people are locked down in their homes, they are trying to do new things and learn new skills, and any company or brand that can develop new measures in assisting people for learning new things will be appreciated and can grow very easily.
Virtual Status Symbols
People are labeled with status. Luxury physical goods retain a monopoly on status symbol goods, for a long time. But now in this pandemic when people are in their home, virtual products like new technologies, the software has become the new status symbol. So, it will be a great time for any company which can produce virtual luxury products since people are eagerly awaiting virtual status symbols.
On the whole, it will be better and wiser to play the long term game as a Business and Brand in anticipation of consumers who might have changed visibly or surreptitiously forever by the Coronavirus. Take these into consideration and sail your boat to the peak corner of success while satisfying your customers.
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