THE FUTURE OF CONSUMER BEHAVIOUR: EMERGING TRENDS AND OPPORTUNITIES FOR ENTREPRENEURS

Abstract

Changes in consumer behavior are always interesting to discuss because they are directly related to a company's success in business. The transformation that occurs has a significant impact on every consumer behavior. It is still clear in my memory before 2000 physical stores dominated. Now, without coming in person, consumers can already make purchases. Technology does play a big role in influencing consumer behavior. In an era dominated by technology, rapid changes in consumer behavior and developments in digital technology have played a key role in changing the way companies interact with customers. Easy access to mobile devices and the internet have become an integral part of everyday life, enabling consumers to search for information, shop and communicate with brands at various times and locations. One of the market segments that is growing in size at the moment is Generation Z, often referred to as "iGen". Generation Z, who grew up in the digital age, has unique preferences when it comes to shopping and interacting with brands. Generation Z tends to trust product reviews from their fellow generations more than brand advertisements. They often look for product reviews online through platforms like YouTube, Instagram, or dedicated product review websites. This behavior gave rise to a new trend in the world of marketing, namely influencer-focused marketing strategies and user-generated content (User-Generated Content or UGC) which have become increasingly dominant in reaching consumers in the modern era. UGC's credibility is often considered higher than brand-generated content, as it comes from the real experiences of users. It is not surprising that consumers in the future will be more active as marketers for the products they use.