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There is mounting evidence that consumer behaviors are changing post-pandemic. Consumers are now armed with much more detailed information about the products and services they want to buy.
In fact, according to BrightLocal, 49% of consumers trust online reviews as much as recommendations from friends and family.
Here we look into major points in consumer behavior change, analyze why this is happening, and how shoppers are maximizing their consumer’s voice.
How Is the Consumer Mindset Changing?
Consumer mindsets evolve over time, there’s no doubt about that. However, it’s
clear that in recent times, we are witnessing a revolution in consumer behavior. It’s
likely that this is driven by a variety of factors.
One significant reason for changes in the consumer mindset is digitization. The
advent of online information about products, the increasing use of consumer review
sites and the dominance of smartphones and tablets make conversations around
products and services essential to the buying journey.
We see more customers than ever researching purchases and reading online
reviews before they buy to ensure they are making the right decision to suit their
needs.
As evidence of this new type of consumer behavior, 84% of respondents to a survey
by PissedConsumer.com commented that they read online reviews before they
shopped so they can minimize any purchase errors. Besides, more customers
express the intention to share their perspectives on review sites. The same study
shows that 28.5% of respondents leave reviews to warn others, while another 20.4%
seek resolution for their issues.
Online reviews are increasingly treated as an important information source that
facilitates consumers to make good purchasing decisions, alongside word-of-mouth
recommendations from others that shoppers trust, such as friends and family.
However, they should be careful with fake reviews that work for companies and can
hurt their buying decisions. To avoid such issues, consumers should not be afraid to
voice their concerns and express their opinions openly.
According to various studies, there are diverse reasons as to why shoppers may
trust online reviews. Customers are more ready to trust and align with online reviews
of the products they are interested in if they are perceived to:
● Be informative.
● Be persuasive.
● Have source credibility.
● Feature a substantial quantity of reviews.
Factors Influencing Consumer Behavior
Consumers are increasingly striving to be heard in today’s market, with feedback
becoming more central to purchasing decisions than ever before. Naturally, this
means that customers are more informed about a product’s strengths, weaknesses
and price points in regard to different retailers.
It’s also true to say that while positive product reviews can create a buzz around a
company, negative reviews can significantly influence customer choice. All these
points to the fact that online review sites and digital conversations about products
and services are now proven to matter to customers and do alter their behavior when
shopping.
Nowadays, we can see individuals fearlessly expressing their opinions and concerns
about companies and their products online. This demonstrates the value of
consumers publicly sharing their experiences with others to help others avoid
shopping errors and air their opinions about certain products. It’s evident that sharing
views online, whether it’s on social media or review sites, can really impact the
results a customer is trying to achieve.
Another key factor influencing consumer behavior and changing customer mindsets
is the current economic climate. High inflation, plus evidence of shrinkflation and
price gouging are creating pressures on customers’ cash flow.
Recent research suggests that between January 2022 and January 2023, groceries
become more expensive by 11.3%. In combination with shrinkflation (products
reduced in size but the same price) and price gouging (steep hikes in product
pricing), consumers are more discerning about what they buy and why they’re
making that purchase.
This perspective is being shared all over social media and throughout online reviews,
so customers are becoming much more knowledgeable about product pricing and
which products are popular among other shoppers.
Key Benefits of the Consumer Voice
The power of the consumer voice is well recognized as an influential force in the
retail landscape. Customer feedback is being openly aired about businesses and
their products or services to either promote positive aspects or raise awareness of
issues that aren’t resolved in a timely manner.
Many customers regard sharing their online reviews almost as a community service,
to warn others of the pitfalls around some products and services. It appears that their
next priority would be to publicize their predicament with a business in order to have
that problem solved for them in an appropriate time frame.
The voice of the consumer is evidenced in one of the social media posts directed toward Adobe Care regarding Adobe Premiere Pro and issues with the computer. The customer recorded a video explaining her problem and asking for a solution. Her tweet sparked a heated discussion among her followers, who retweeted it, gave pieces of advice, and gained the company’s attention. It entered the dialogue and provided possible steps to help resolve the issue.
Consumer-facing businesses are increasingly expected to have a consistent presence online so that customers can provide feedback and stay in contact if it’s required. Some customers use the power of their consumer voice to heighten their experience of a product or service or to fulfill their expectations about the product.
Expressing consumers’ voices can also help improve a company’s services and change its customer support policies to suit customer tastes. When customers see problems in operational policies and have ideas about how to improve these, many are starting to express these suggestions online.
Brands are also accessing social media to connect better with their consumers, address issues on the beat and make sure customers have alternative routes to follow when they happen upon any snags.
Customers are now more confident in sharing their feelings and opinions on brands and their products or services. They want to share their experiences so they can connect with others in similar circumstances, help other consumers avoid any pitfalls and improve their own situation by talking with a brand to correct any issues.
The Future of Feedback
Listening when customers use their voice, creating strong online relationships and responding to customer online queries in a timely manner are meaningful approaches being adopted by many businesses in order to increase customer satisfaction and loyalty to their brand.
Consumer voice is becoming stronger by the day. Brands actually want their customers to share their opinions publicly. This is beneficial for two reasons. Firstly, the company can quickly respond to any queries and resolve any issues before they become too negative.
Secondly, customers get to share how they feel, connect with the company in question and others in their position, and hopefully get a positive solution that suits their needs. It’s so helpful for others in the same position to hear about and connect with people who have experienced a similar situation in their purchasing journey.
Customer experience is now a key driver in brand positioning. Brand awareness is powerful, and learning about how other shoppers have interacted with a business is essential in completing purchasing decisions. There’s never been a better time to share consumer voices to strengthen customer experience moving forward.
Joanna Clark Simpson
Joanna Clark Simpson is the Head of PR and Marketing at PissedConsumer.com, a review and reputation management platform. While doing her job, she analyzes consumer experience and gets a better understanding of consumers’ behavior. Using this knowledge, she provides consumers with useful tips on how to avoid different issues and make informed purchase decisions.
