Emerging Consumer Trends Create New Opportunities for Businesses

Emerging Consumer Trends Create New Opportunities for Businesses

Innovative market positioning generally emerges in response to new customer groups, changing consumption needs, societal shifts, new technologies, emerging distribution channels or innovative production capabilities. Businesses can take advantage of new trends and develop unique value propositions by identifying and targeting groups of consumers whom their competitors may overlook. The objective of this report was to highlight some emerging consumer trends to help SME s seize these opportunities. Keep in mind that not all trends can or should be pursued at the same time. In some cases, the decision to adopt them may require a so-called “straddling strategy,” where a company simultaneously competes on dual fronts. This could erode a company’s unique value proposition and affect profitability. It’s a situation that often occurs when established companies try to adapt emerging business models to incompatible core activities.

You need to login to view the rest of the content. Please . Not a Member? Join Us
Sarahmagazine

You must be logged in to post a comment.