5 changes to buying trends in 2020

We are already seeing how buying trends have changed with the onset of self-isolation and the shift from non-essential buying to the hoarding of essential items. Most people are now focusing on survival needs and as the isolation period progresses, some are itching to make purchases purely for pleasure.

With the massive global changes, naturally the economy is impacted in ways that affect every industry differently. We can only hope that some of our favorite brick and mortar shops will still be around once stores have the go-ahead to reopen. It will be a while before we see the true effects this has on the economy, but in the meantime, I’d like to look at what we already know is happening in terms of buying trends and how it may relate to your business.

5 Predictions on Buying Trends
and Buyer Behavior

Conventional Takes a Back Seat to Unconventional - We’ve already seen shifts in how people buy in more casual ways. One of the big buying trends that has been gaining momentum is selling through Instagram. We will continue to see more of this unconventional type shopping and selling increase online. Don’t be surprised if you see a number of alternative shopping trends pop up in the near future.

Think home shopping network meets your own home shopping channel. Except in this scenario, you’re selling from your home while your buyers shop from theirs. Another example of how the internet has leveled the playing field. We’ve gone from the big establishment to virtually all do-it-yourself.

According to Forbes “total internet hits have surged by between 50% and 70%.” But it’s important to keep in mind that while internet usage is dramatically up, that data includes a massive number of start-ups that will be vying for their share of the online space. Along with that, many people have lost their income or won’t have jobs to return to. The sooner you build your online audience, the better for your business.

If you’ve got the personality and the confidence to sell through live video, now’s the time to get started. And... it doesn’t even need to be complicated. Selling through live video on Instagram can be as relaxed as taking your viewers behind the scenes in your workshop, showing how you make your pieces, and asking for the sale. Show the item. Talk about the item. Tell the price. Say “direct message me if your interested.” It isn’t for the faint of heart, but if you’ve got the guts, you can build a business much faster via live selling.

Creating an “Experience” - In the spirit of unconventional, now is the time to get inventive about how you want to show up for your potential buyers. Even when people are back out-and-about, they will still turn to the internet for their buying needs more than ever before. In part because of the rolling isolation periods we are likely to face, but also because it will feel safer to limit outings even when all seems well. 

Keep in mind the huge influx of newbie online shoppers who were once reluctant to enter credit card information online. Now that they are more comfortable with the process, they will continue to explore this newfound option. 

With the huge increase of websites popping up in the coming months, having a plan up your sleeve for creating a superb online experience will help solidify your following. There are plenty of ways you can please and entertain with a little imagination. If humor is your shining star, use it! Your potential customers could use a little levity just about now.

Think of how you can use video, a weekly email that offers more than just products, or extended services to augment your physical products. The sky’s the limit when it comes to creating a unique user experience that makes people feel their needs are being met.

Whether it’s a humorous weekly video you share on Instagram, or YouTube, or it’s a heartfelt weekly email that includes links to uplifting resources, music, or videos, give your audience something to warm their hearts. Just show up regularly with your heart and soon you’ll see that you have loyal fans, turned loyal customers.

Spirituality and Resonance - With so much of life turned upside down there is a mass awakening to just how fragile life can be. In short order we have lost the things we rely upon and simple pleasures we might have taken for granted. No one is exempt, and we see how developed countries have been hard-hit, forever changing how we view the luxuries normally available in abundance.

A global crises forces people to turn inward asking “what can we do better and where have we gone wrong?” This has prompted many to connect with something greater and that will be a trend that continues. Emotions are riding high as people are affected  on a deeper level which greatly affects buying trends and consumer behavior.

Going forward, there will be an increased interest in products and services that resonate with the new journey of raised consciousness. If you sell products that have spiritual meaning, or they are designed to aid people in their spiritual journey, you will continue to see this as one of the top buying trends in the years to come.

Checking off the Right Boxes - We have all been through a lot. The current events will continue to present challenges for the majority of people both emotionally and financially. The insecurity at large will affect the way in which people shop and show their loyalty. Making sure you tick off all the right boxes in terms of reassurances will help you to gain and retain buyers.

For now, people will want to be reassured that safety measures are taken in regards to packaging in a germ-free environment. They will also want all their questions answered such as shipping times and prices, return policies, product guarantees, secure financial transaction measures and much more. Although these things were always important, people will want to have it spelled out for them.

One of the latest buying trends to consider is that we are seeing many new online shoppers since home isolation began. Those who were hesitant to use their credit cards online have found themselves forced to make online purchases in recent months. Even regular online shoppers will want the reassurances just mentioned. An increase in cautiousness is par for the course during times of displacement.

People don’t have their usual comforts and day-to-day reliable routines. When everything feels unfamiliar, people need a feeling of safety. Create that safety for them with warm messaging, product guarantees, friendly service and over-the-top, self-serve information so they can shop with confidence.

Align or Decline - Just as we see changes in buying trends as a result of the current events, we will also see how people will be more inclined to decline offers, and even react in haste, when sellers aren’t speaking their language. We’ll see customer loyalty go out the window if they don’t like the way in which they are approached, or how companies “handle” the crisis.

People are more apt to feel put off in times of intense feelings and global change. Sending out marketing messages that don’t take into account the vibe of the new world will result in customer loss. Buyers will be watching companies with more scrutiny and be quick to react, asking “do you have any idea what I’ve just been through?” Although we are all experiencing this together, there will be a great divide between buyers and commerce.

It’s either you against them, or you with them. How you meet the emotional needs of your buyers will greatly determine whether you can retain their loyalty, or whether you will send them off on their way. Now is a time of great purging, when everyone is asking “do I need this, or want this, in my life?” The more you can align with the needs and wants of your potential buyers, the greater the chance you can win a spot in their hearts.

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