What consumer trends do you see in 2010?

Thats the consumer. With the growing power of bloggers, review sites, social networks and also you tube to a large extent we have a consumer who is savvy. He knows what he wants. He also shops before he reaches for the wallet and he NEGOTIATES!!

Its the era of the buyers market. Sellers have no choice but to offer choices that the consumer somehow or the other remains loyal to the brand. Thats the trend that I see. Thanks for the referral Jayant!!

What ever product the customer buys, it is exclusively/tailor-made for him. .if  those in the business  succeed in giving that feel, its done. Yes, customer is better informed and media has a big role in this..

Thanks Jayant for the invite to the debate

Micro-blogging, social networking and interactive media have exploded into consumers’ lives, and as confidence in usage grows, people will incorporate new media forms more into their daily lives. Today, every four in 10 users have at least one social networking profile and nine in 10 adults have a computer in their home.

As people use new media to change and simplify daily tasks, they’ll question the nature of authority and effective use of advertising. Companies must work harder next year to truly engage, attract and interact with consumers, as media quickly evolves.

Consumers Will ask for Value as Makrand has rightly stated.

Consumers under pressure not only think more critically about where they spend their money but also about what exactly they are getting in return.

Pinched times call for more prudent measures so consumers are adopting a new zeal in determining precisely what features they deem worthy of their money. They are carefully scrutinising the exact product features they need so that they don't overpay.

They want transparency of price. It is bidding versus buying (such as ebay and souk.com). They will be ready to spend more time to get the right thing at the right price.

Green is in, forever. Not just because consumers are becoming more conscious of their impact and responsibility towards the environment but also because businesses will themselves not be able to pass up the opportunity to make mind-boggling fortunes if they can figure out how to get the world off its addiction to polluting power sources and wasteful consumption.

Recession or not, consumers will continue to demand responsible behaviour from brands.

Nostalgia:

Storybook sentiment has got hold of consumers looking to escape their stresses and to find a temporary refuge from adult responsibilities. Nostalgia marketing holds great appeal in times of uncertainty as it allows consumers to reminisce, bringing them back to simpler, more carefree times.

As the after effects of the recession will be felt for some years to come this one is a gold mine.

2010 can be a year where Entertainment industry can see a huge revolution with more and more choices with customers!

It would be really convenient for customers if all DTH service providers offer its subscribers more flexibility in watching TV programs...Select the program you want to watch at your own convenient time...Only problem will be to the TV advertisements since people will skip the ads to save their time..

Watching TV programs or Cricket matches on mobiles would also revolutionise entertainment industry! Mobile customers would not mind paying a little bit extra if they get to see last few overs of a close cricket match!

Brands are barely keeping up with consumer expectations now. Every day consumers adopt and devour the latest technologies and innovations, and hunger for more. Smarter marketers will identify and capitalise on unmet expectations. Those brands that understand where the strongest expectations exist will be the brands that survive - and prosper.

As consumer are becoming more and more educated there demand for more quality goods have been raised and now consumer seek more qualitative product at reasonable rate. This trend will continue because with the modernisation the technology introduced is at high cost first but due to comptetion soon the prices go down as more companies starts producing same products.

all the requirements of the consumer must be satisfied.And that also satisfy the high,middle and low class people in the society.So that the company and customer both will be in a positive sence.

Though recession is slowly being the phenomenon of past and new dawn of consumerism is knocking at the door. But here marketers have to be very cautious about their TG. As recent study showing that about 50% Indian consumer are born after 1982 i.e. half of the population is below 28 years (500+ millions). and we are still adding 25 million newly born each year, which ensures that median age of India remains in mid twenties for the next 15 to 20 years. All these are born in the era of increasing consumerism where each day they are offered more choices of product and service category.

So whichever company offfering better price-benefit value proposition gets the share of the consumers' mind and wallet. As per consumer point of view market trend is going to be higher with more and more disposable income, shopping, outing so on and so forth.

The job of marketers has increased here to go to the basics of marketing and find out the unmet or unsatisfactorily met or emerging consumer needs and then develop the product to cater in most efficient way. Once the product is developed then they have to be distributed thru the most appropriate channel to reach the TG.

One more trend is emerging from the consumer in 2010 and that is Perceived Value. Consumers are more willing to get the perceived value and ready to pay for it. So today the company is more successful who are willing the Perceived Value wars rather than Price wars.

So be careful though the market is improving but new trend is emerging from the Consumer Behaviour.