If the people you sell to are changing their behavior, your marketing strategy can’t remain static – you’ll have to adapt and learn how to meet them. Marketers must look for observable differences in buyer behavior to satisfy their needs.
To help marketers and other business professionals make more data-informed decisions, we conduct a bi-annual survey of 600+ US consumers to better understand how adults spend their money.
Using HubSpot Blog Research from Us consumer trends reportWe’ll explore the nature of the biggest consumer behavior changes between May 2022 and January 2023 so you can stay tuned.
Biggest consumer behavior change
1. Consumers are getting ready to buy products through social media apps.
In May 2022, only 12% of consumers preferred to buy products through social media apps like Instagram Shop or Facebook Marketplace. In the past three months, 41% of social media users shared that they feel comfortable shopping on social media platforms.
That behavior change is amazing. More than ever, there is more potential for social media marketers to influence consumer behavior content sharing that arouses interest and Belief through these channels.
HubSpot blog research also found that the most popular social media platforms, Facebook, Instagram, YouTube and TikTok, are the most preferred platforms for social shopping. Social shoppers also say that Instagram and Facebook have the best in-app purchasing experiences.
These apps have very easy-to-use shopping interfaces, and it’s easy to see why they might sell or sway users. When consumers view or interact with content they enjoy and receive advertising relevant to their interests, products seem more valuable to their hobbies and lifestyles.
2. Gen X and Boomers are shopping via social media, not just the younger generations.
29% of Gen X (up 16% from May 2022) and 16% of Boomers (up 60%) say social media is their preferred product discovery channel. The shift is huge for generations that typically claim to prefer learning about products through TV commercials and Internet searches.
Social media use isn’t just something teens do every day. Older generations often use it. Social networking provides entertainment, community and a more dedicated space for window shopping.
3. Support for small businesses isn’t shrinking — it’s growing.
42% of consumers have chosen a product based on how it was made small business In the last three months, up 8% from May 2022.
The post-pandemic effects may be behind this behavioral change. Many consumers saw some of their favorite mom-and-pop shops closed because of a decrease in traffic and customers. Now that the worst of COVID has passed, many consumers haven’t forgotten to support small businesses.
Another reason to support small businesses is the shopping experience itself. Many consumers prefer to shop small for the following reasons:
- Product variety that chains don’t provide
- More practical and engaging customer service
- the positive spirit of giving back and building a community
4. Consumers are shopping more consciously, supporting businesses with corporate responsibility.
Along with supporting the local community, consumers are giving more of their money to companies that take political positions on issues they care about. These three reasons are most important to him:
- racial justice
- climate change initiative
- LGBTQ+ Rights
Consumers want to support a company that pays it forward. They seek to influence the world around them as they become more informed on news of global political unrest and other issues.
Businesses benefit greatly from implementing socially responsible initiative, events, or charities to attract and retain customers. This could be the major deciding factor behind your next customer’s purchase between you and your competition.
Keep up with consumer behavior trends
One of the most significant risks a marketing team can make is failing to adapt to changes in consumer behavior. Stay informed about your customers’ behaviors and make sure you meet their needs — even as they change.
