FAQ
What are teenagers most likely to buy?
There are many data points about consumer trends. However, we don't have the ability to use them. We looked at the data and decided to do our own analysis. We wanted the data to show us which products or services teens had purchased. We then looked at the changes in these purchases over time.
Even we were amazed by the results. It turns out that teens are very frugal when it comes shopping habits. Teens spend more on clothes than any other age group, except for books. But when it comes to technology, they're spending far more than any other age group.
Teens are also big spenders on mobile phones, computers, and tablets. These devices were purchased by almost 2 billion dollars last year by 13-17-year-olds.
However, what is most striking is the fact that while they spend a lot for electronics, they don't spend as much on their smartphones. Apps account for less than 1 percent of teenage smartphone usage.
This means that most of them use smartphones to surf the internet. They use Snapchat and Facebook. They enjoy games on Xbox and PlayStation.
In short, they use their phones to connect with friends, watch videos and play music.
This is an interesting trend. Teens are increasingly dependent on their mobile phones. This makes sense considering how much time they spend online.
They're also spending more time watching TV. Teens are now spending more time on TV per week than any other age group, except for children between the ages of 5 and 9.
There are many factors that TV users turn to. One reason they choose TV is because it is easier to manage. They still prefer traditional media, even though they have digital options.
Another reason is that they have more options. Switching channels is a great way for kids to have fun. They'll switch channels often and will choose whatever's on, rather than sticking with one channel.
Finally, it's just plain enjoyable. Teenagers enjoy being able to interact on screen with their heroes, whether that's through talking to them or exploring other worlds.
All this aside, they don't like the quality of what they're viewing. Common Sense Media surveyed parents and found 90% said they would prefer that their kids watched less TV if it meant watching better shows. Two-thirds say their kids would rather play video than watch TV.
This shouldn't come as too much of a surprise. After all, we know that kids who spend more time watching TV are more likely to be obese. Harvard University just published new research.
It was found that every additional hour of TV watching per day was associated to a 2.5-point rise in the BMI among children between 6 and 11.
So maybe it's time we started thinking about ways to help our kids get off screens. We might start ensuring that they have healthier snacks available.
We could encourage them to get active and play sports. The latest data shows that physical activity levels have declined across all age categories. So we must do something about that.
The good news? There are many things you can do to improve youth health. Look at the evidence.
What are consumer trends in 2018?
Consumer trends are more important than ever because they affect our lives. They also help shape the future for commerce and business.
The world today is changing faster than ever before. We are living in an era where technology is advancing at an exponential rate. Our lives become more connected and mobile. We see unprecedented levels of change.
This means that the people who succeed in the long run will be those who can adapt quickly. The best people are always ahead of the curve.
Consumers are faced with options that aren't possible just a few years ago. This creates enormous opportunities for businesses as well. But it also brings challenges.
Online shopping and eCommerce are growing because of the huge demand for convenience. Consumers desire choices and options. Consumers want to be able find what they're looking for, when and where they want it.
They want to be able to purchase products and services that make sense for them. They want to be capable of comparing prices, reading reviews, and sharing information.
But these changes are rapid and easy to miss. It is important to keep up with all the latest developments and develop strategies that will help you stay competitive.
To succeed in this environment, you need to focus on two key areas: innovation and customer experience. These are key factors to staying ahead in the marketplace.
It is not enough to provide great service and sell quality products. Innovation is key. And you must deliver exceptional customer service.
You may have heard about the term "customer obsession." It refers to the idea that if you truly care about your customers, you will exceed their expectations.
Customers expect exceptional service. This is where the problem lies. Many businesses don’t see this. Instead, they assume that they should treat customers like any other client.
They focus on product features and price to market their products.
But customers aren’t necessarily buying products and services any more. Customers are now choosing from a variety of options.
Instead of focusing solely on price, you should think about creating unique value-added propositions. This is what will make you stand out from your competitors.
This isn't about improving something. It's about offering something totally different.
How can you do that? Innovating!
By being creative!
Thinking outside of the box is key!
And, most importantly, to provide top-quality customer services.
How does technology influence the fashion industry?
Technology is becoming a key tool for shoppers to shop and purchase clothes. Consumers can shop online and compare prices using smartphones and tablets. This may involve using apps to scan products or get instant feedback from other shoppers.
This is especially true of those who seek unique or difficult to find clothing. The Internet has become a great place to shop for designer goods. Online retailers eliminate the need to visit physical shops to purchase your favorite brands.
Statistics
- Just 5% of consumers expect to wait until December to begin shopping, while more than 70% said they'd start before Thanksgiving. (junglescout.com)
- and what they are traveling for, with 78% of respondents wanting to impact the community they visit positively.1 Eating & Shopping at Small businesses (americanexpress.com)
- Nearly 30% of consumers have started their holiday shopping, though 55% say rising inflation has altered their gifting and spending plans for 2022. (junglescout.com)
- The percentage of shoppers likely or somewhat likely to purchase top social platforms increased across the board in the third quarter of 2022 compared to the second, with TikTok seeing the largest jump. (junglescout.com)
- As experts quabble over the official call, most consumers are already experiencing economic uncertainty: 52% say their household income is unstable, up 36% from three months ago, and 73% have either reduced or maintained their overall spending levels. (junglescout.com)
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What are some examples of consumer trends you can see?
Trends indicate shifts in consumption patterns.
While some trends are unpredictable, most tend to be predictable. There are two types, cyclical trends and secular trends.
Over time, cycles tend to repeat themselves. As an example, three decades of economic expansion has seen consumers spend more money every year. These cycles tend to be short-lived. In fact, spending declined in the recession of last decade.
Secular trends refer to long-term changes that last for longer periods. The internet and mobile phones are two examples. These trends are frequently driven by changes in tastes and lifestyles, so they do not necessarily correlate to economic activity.
The most obvious trend is the shift toward online shopping. Customers are more inclined to shop online than in brick-and mortar stores. The rise of eCommerce is another major trend. eCommerce has seen an increase in popularity and sales than physical retailing over the past few years.
Another important trend is an increase in social networking usage. Social media has become ubiquitous and is used daily by millions around the world. Online platforms like Facebook, Twitter, Instagram, Pinterest, and Snapchat are widely used by consumers to share information, express opinions, and communicate with friends and family.
A third trend is the growing use of wearable technology. Wearable technology is becoming more common with smartwatches, fitness trackers and smart clothing. Contact lenses are also popular. Wearable tech devices are a great way to track our health and wellbeing, monitor our environment, and communicate with the outside world.