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Rapidly changing consumer behaviors

in major industries

By Nick Cucci the economy, more consumers are looking for ways to
Fluid Pay LLC save. This is impacting how they spend in several areas,
including the following:
he United States economy is dependent upon
the buying power of its consumers, leading • Food consumption: The way we eat often changes
companies to take a hard look at changes in with the seasons, but some changes in consumer
T behavior. More people are worrying about the behavior are in response to elements of the economy.
future of the economy due to the impacts of inflation, Already, recent market insights have determined that
including the rising cost of home ownership. Ultimately, the number one focus for consumers when shopping
these concerns are affecting consumer behaviors as peo- for food is shifting from sustainability to value (see
ple continuously reassess their priorities. https://bit.ly/3mqm8rB).

In this article, I'll take a look at some of the rapid changes As more people push toward enhancing value while
we are seeing and how shifting consumer behaviors are they shop, less room is left for anything other than
impacting major industries. the essentials. Adding to this, more people don't just
want essentials—they want them in a way that brings
Why do consumer behaviors change? more value. Choosing private labels and shopping in
bulk are both becoming more common.
No matter what time of year it is, you will always be able
to find relevant data on consumer behavior trends. This • Transportation: The transportation industry has
is because, realistically, these behaviors are constantly seen its fair share of changes, with consumers taking
changing. When it comes to shopping and spending, a closer look at the future of transportation. Behaviors
consumers are known to change their interests and make changed drastically in response to rising gas prices,
new decisions accordingly—even if only temporarily. with 75 percent of drivers sharing that they will and
do change their driving habits when gas prices get
Reasons for these shifts include changes in the economy, too high (see https://bit.ly/3MA4rR0).
debt rates, viral trends and breaking news, public opinion,
and industry innovations. Beyond gas, consumers are also looking at
Recent changes in consumer behaviors transportation alternatives. When asked, more than
30 percent of drivers in an Ipsos study said that they
Some consumer behavior changes are drastic, and some are strongly considering investing in an electric
occur as a direct result of industry trends. Today's vehicle for their next purchase (see www.ipsos.com/
changing consumer behaviors are mostly in response en-us).
to the shifting economic climate. As fears grow about

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