The age of conspicuous consumption has been replaced by conscious consumption. This change in consumer attitude and behavior has been coined as “new consumerism” by research firm Euromonitor. As brands, we need to change how we communicate, market, and sell our products to appeal to these new consumer preferences.
10 Commandments of New Consumerism according to Business of Fashion:
- Provide Transparency Into Your Business Practices
- Demonstrate Authentic Brand Values
- Create Sustainable Processes
- Invest in Retail Technology
- Help Customers Achieve Personal Goals
- Price Your Products Competitively
- Provide Efficient Services
- Deliver Experiences to Drive Sales
- Embrace the Sharing Economy
- Recognize Customers’ Individuality
Read the full article in Business of Fashion.
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