The financial side of consumption

[rifat28dddd]

Conscious consumption

With rising prices and the post-pandemic crisis affecting both the global economy and the financial situation of many families, consumers are becoming more selective and careful in any purchases. This phenomenon also increases demand for goods on sale and stimulates the search for discounted goods. Consumers are conscious and balanced in their spending and product searches, while also paying attention to the quality of the product.

is of equal concern to both Kazakhstani and foreign consumers.

For example, according to a global PwC study, 96% of respondents brazil cell phone number list plan to switch to a more frugal mode over the next 6 months. (1) And 69% of consumers have reduced their spending on non-essential items over the past 6 months. (1)

And a NielsenIQ retail manager says more than 60% of shoppers say they monitor prices, and 95% are aware of price increases. (2)

Also, according to a NielsenIQ study, 70% of Kazakhstanis began to make purchases in stores with lower prices, 88% of consumers consider the price of a product to be the main criterion for choosing a product, and 59% make a purchase decision based on an attractive promotion. (2)

This trend also creates certain expectations from brands. Firstly, buyers are increasingly looking for products that would maintain a balance between price and quality. Secondly, consumer loyalty to brands is falling, and it is becoming more difficult to hold the attention of a potential client. Due to the fact that consumers are now increasingly looking for products at a discount or on sale, they are less concerned with a specific brand than with the price of the product.

With consumer awareness growing due to inflation, companies should pay attention to the number of promotions and special offers they offer to their target audience, as well as the justification of their product prices. In most cases, this is one of the most affordable ways to attract attention to your brand in today's reality.