Consumer behaviour trends that will transform B2C brands in 2022

Guest Column: Gurumukh Uttamchandani, Executive Director – Syska shares the upcoming trends in consumer behaviour that B2C brands and marketers should take into account in 2022 The year 2021 ushered in a new era of opportunities and innova

by Gurumukh Uttamchandani
Published - December 28, 2021
4 minutes To Read
Consumer behaviour trends that will transform B2C brands in 2022

Guest Column: Gurumukh Uttamchandani, Executive Director – Syska shares the upcoming trends in consumer behaviour that B2C brands and marketers should take into account in 2022 The year 2021 ushered in a new era of opportunities and innovations for the FMEG businesses. Consumer centricity became a focal point as the white goods industry developed new technologies based on evolving consumer patterns that are desired in the new normal. As a result of the pandemic, e-commerce traffic from tier-II and III cities increased significantly last year. Brands are also implementing a more customer-centric strategy than they have in the past. The effort to identify a customer's emotional need, comprehend the grounds for that need, and effectively respond to it goes a long way toward creating successful businesses. With such a large potential for development, the industry must maintain a sharp eye on changing consumer requirements, promote product innovation, and effectively prosper in the post-pandemic era. The need for integrating healthcare features in products Going forward, consumers are anticipated to place greater priority on health, and will look for products that offer superior features which will enhance health and wellbeing. The virus's spread has prompted awareness about maintaining good health, with a clear link to safety, health, and hygiene, making products like smart wearables even more crucial. Products that offer features such as monitoring blood oxygen levels, heart rate, health tracking, hand sanitization reminders, sedentary alerts, tracking water intake, Spo2 monitoring, for example, have been increasing popularity, and this trend is projected to continue next year. According to a report by International Data Corporation (IDC), in the third quarter of 2021, India shipped 23.8 million wearables units. FMEG companies have already begun to reinvent the wheel by incorporating health-related improvements into their products. Value for money products to play a key role Brands should make it a point to enter categories where new technology and innovation can provide value to the consumers in their purchase decisions. One of the most important factor to consider is the price they pay for the product they buy. Businesses should aim to concentrate their efforts on developing value for money products. To design products that deliver quality at an accessible price, brands will need to focus on cost innovation as part of their R&D initiatives. In 2022, we foresee that consumers will continue to seek cost-effective products that are functional rather than aspirational or niche, without having to sacrifice on the quality aspect. The demand for home automation is growing Consumers desire solutions that are more technologically advanced, easy to use, and easily accessible. We are fortunate to live in an era where technology can help us, make our lives easier, and transform the way we live. The evolution of AI and IoT-driven products has increased the scale and quality of communication between intelligent devices and humans.  The technology we've grown accustomed to has set the way for us to innovate even more, and future technologies have the ability to provide a better quality of living. The Indian smart home market is estimated to reach $6 billion by 2022, according to Statista. As consumers strive to become more self-reliant, convenience-driven contactless product categories such as smart led lights, smart plugs, smart lamps etc. will continue to witness an upsurge. As many devices will be used at home, and home is where the activity will continue to peak for a while, consumer will be on the lookout for energy efficient devices. In today's digitally inclined environment, 'SMART' is no longer a luxury but a necessity due to features such as easy accessibility and comfort. Smart home automation is gaining popularity among consumers since it not only offers a number of advantages but also improves the aesthetic value of homes. Homegrown ‘Made in India’ to witness a further boost in demand The ‘Make in India’ campaign has been gaining much momentum and the Indian government has been encouraging Indian origin companies to be ‘Vocal for Local’. Consumers have proven a preference for local products, thus supporting Indian brands to be self-sufficient in the future. The PLI scheme, spearheaded by Modiji is set to create opportunities for the country such as boosting economic growth and also supporting in generating more employment opportunities by bringing large-scale manufacturing to India. This is an opportune time for the entire sector to become self-reliant and manufacture high-quality products that are competitive globally. Government initiatives such as this will undoubtedly support homegrown businesses in expanding its manufacturing capabilities and further boosting exports.

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