Changing Consumers

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Changing Consumers by Mind Map: Changing Consumers

1. What consumers looked like in the past

1.1. Less online shopping

1.2. higher value of face to face interaction

1.3. money was worth more

1.4. more willing to buy from personal connections

1.4.1. will pay more in the store for a shirt with a tag on the back that says usa

1.5. Less options in stores, and harder to travel

2. What consumers look like now

2.1. more online shopping

2.2. money has lesser value

2.3. value of the product matters more than personal connections

2.4. a lot easier to find a better deal thanks to the internet

2.4.1. price check

2.5. ease of access

2.5.1. next day delivery

2.5.2. more stores

2.5.3. alternative travel methods grow each day

2.6. the average consumer allocated more value to their time

3. Why are consumers changing

3.1. economic status

3.2. aging population

3.3. technological advances

3.4. convenience is more important

3.5. changes in family structure

3.6. higher demand as population increases

3.7. globalization

4. How are marketers reacting

4.1. higher focus on online sales

4.1.1. whole departments vs maybe a few experts

4.2. increased importance of competitive advantages

4.2.1. better prices

4.2.2. better customer service

4.2.3. better reward programs (ie. shoppers drug mart pc optimum points)

4.3. increased importance on maintaining inventory

4.3.1. "If Giant Tiger is out of a product, I will just buy it at Walmart"

5. Extra

5.1. paying for shipping

5.2. globalization

5.3. more competitive because of increasing globalization

5.4. moms