3 shocking Consumer Behavior Shifts Discovered by HubSpot
Hey there! As a climate-conscious company, you understand the importance of adapting to changes in consumer behavior. After all, your target audience is constantly evolving and your marketing strategy should evolve with them.
HubSpot conducted a bi-annual survey of 600+ U.S. consumers to better understand how adults spend their money. Their 2023 State of U.S. Consumer Trends Report is available for download now and it's packed with valuable insights.
One of the biggest shifts they’ve observed is that more consumers are comfortable purchasing products through social media apps. In fact, 41% of social media users now prefer shopping on platforms like Instagram Shop and Facebook Marketplace. This presents a great opportunity for social media marketers to influence consumer behavior through content that builds interest and trust.
They also found that social media is not just for the younger generation. Gen X and Boomers are also shopping through social media more, with 29% of Gen X and 16% of Boomers saying it's their preferred product discovery channel. This is a huge shift for generations that traditionally prefer learning about products through TV ads and internet search.
Support for small businesses is also growing, with 42% of consumers choosing a product based on it being made by a small business in the last three months. This could be due to the positive shopping experience and the desire to support the local community.
Additionally, consumers are more conscious of corporate responsibility and are more likely to support businesses that take a political stand on issues such as racial justice, climate change initiatives, and LGBTQ+ rights.
Implementing socially responsible initiatives can help attract and retain customers. It may even be the leading decision factor in a customer's purchase decision between you and your competitor.
Understanding consumer behavior is key to adapting your marketing strategy and staying relevant. Read Hubspot’s 2023 State of U.S. Consumer Trends Report to learn more and make data-informed decisions that align with your values.
Ready to align your marketing strategy with eco-conscious values? Contact us today for expert content solutions that resonate with socially responsible consumers.