Three new consumption trends in Europe, sellers should take a look!

In 2020, European consumers' consumption habits and preferences have undergone certain changes. Only by understanding consumers' consumption psychology can sellers prescribe the right medicine.

Consumers pay attention to sellers' brand marketing activities

European consumers are paying more and more attention to brands and combining them with the context of the times. During the epidemic, brand marketing activities should be carried out in conjunction with the relevant situation of the epidemic.

According to GlobalWebIndex , by May 2020, nearly two-thirds (64%) of Internet users in Europe said that brands should conduct advertising campaigns related to the epidemic . On the contrary, if brands do not take action or conduct campaigns contrary to it , they will easily lose consumer recognition.

Among the countries surveyed, more than 60% of consumers in Italy, Ireland, Spain, Poland, the United Kingdom, and Romania agreed with this statement, with 77% of consumers in Italy agreeing with this statement. Therefore, brand marketing activities need to be combined with the current epidemic situation.

Social responsibility and reputation have become important criteria for consumers to measure sellers

Karin von Abrams, chief market analyst for Western Europe at Insider Intelligence , said that by 2021, more consumers will pay attention to the ethical credentials of retailers . Consumers believe that companies' ethically responsible behavior should be a long-term commitment.

A Havas Media and ODEC survey in Spain in April showed that 88% of adults want companies and brands to actively provide free products or postpone payments for those whose employment or economic situation has been affected by the epidemic after the lockdown ends . More than 80% of respondents said that companies and brands should donate funds or products to public organizations and institutions, create positive advertising campaigns and messages, and increase advertising campaigns and messages that help consumption recover.

Many retailers are already assuming this obligation. A November 2020 survey in France by KPMG and FEVAD found that 55% of retailers surveyed said these new consumer behaviors posed an inherent risk to their future , and 81% said that assuming corporate social responsibility was a priority.

"Sustainability" becomes the focus of consumers

A survey report by McKinesy & Company of more than 2,000 British and German consumers showed that two-thirds of the respondents believed that the impact of the epidemic blockade on climate change was very important, and 88% said that attention should be paid to pollution problems and sustainable development.

Currently, a large number of European consumers are beginning to shift towards "green" purchasing behavior. It is reported that 57% of respondents said they changed their consumption behavior to protect the environment; 65% of respondents planned to buy more high-quality and durable products; 57% of respondents were willing to repair products to extend their use time, and 71% of respondents said they would reduce the discarding of fashion products.

In addition, European consumers are beginning to pay more attention to the second-hand market. It is reported that about 50% of millennials expect to buy more goods through second-hand platforms.

Sellers can pay more attention to these three trends and strive to capture the hearts and wallets of European consumers.

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Consumption Trends

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