The rise in costs is forcing many customers to take a closer look at the price.
The fact that many companies face supply bottlenecks has a significant impact on customer behavior. A current consumer survey shows that many consumers are migrating and looking for alternatives. But also social aspects, environmental issues and the need to save money play an important role.
“Made in Germany” is gaining in importance
Environmental aspects, social issues and responsible corporate management have long played an important role in purchasing decisions. 42% of respondents declare that they buy products made in Germany because they want to know where and under what conditions they were made.
Two-thirds explain how a company positions itself in terms of the environment – that is, whether it is reducing its CO2-Reduced emission or no plastic packaging. Every second person wants to support their own economy by buying products made in Germany.
Admitting your mistakes is good
Social aspects, such as whether the manufacturer or seller respects human rights in the value chain, are even important to 71% of respondents. For 72%, corporate management plays a role in the purchasing decision, for example, the manufacturer’s data protection behavior or its commitment to transparent management of the business. “Customers especially appreciate it when retailers rely on the transparency of business practices and admit mistakes,” adds the PwC expert.
Support your own economy and know where it comes from. Products made in Germany are gaining in importance.
“Consumers reward these companies with a leap of faith that can credibly demonstrate that they are committed to reducing CO2emissions, respect for human rights or high standards of data protection ”- sums up Wulff. In addition to the likelihood of a purchase, the recommendation rate also increases.
Second hand first choice
According to PwC, interest in social and environmental issues also fuels interest in second-hand goods – especially among Gen Z. Most consumers have already bought second-hand goods or may consider it. For example, when it comes to clothing, 56% of respondents bought second-hand products – for Gen Z, aged 18-27, almost two-thirds.
What Trading Can Do
“For traders, these changes mean that, on the one hand, they have to change their ESG positioning (environmental, social, managerial, ed.) they have to get stronger, ”says Wulff. On the other hand, they can gain the trust of customers if they provide successful customer service. “This could be exceptional customer service, for example. But attractive discounts or the offer of simplified repeat purchases also strengthen the loyalty of buyers. “
And finally, manufacturers and retailers could stand out by relying on innovative technologies and, for example, by establishing virtual reality as an additional purchasing channel, says Wulff. “Almost a quarter of Germans are already actively using virtual worlds and products,” he says. “For example, they watch movies with VR goggles, buy digital products, test products in a virtual world, or participate in virtual events.” Generation Z is the main target group.
As part of the Global Consumer Insights Pulse Survey, the audit and consulting firm PwC conducts a six-month survey among consumers in 25 countries about their consumer behavior – including 500 consumers in Germany.