Posted on: Aug 10, 2020

New Purchasing Criteria

Reading Time: 3 minutes

Much has changed in our buying habits since the advent of mass technology in our daily lives. Previous generations weighed up their purchasing decisions based on principles such as price and brand quality, also considering the word of mouth and planning their purchases discreetly.

Today, the consumer is constantly connected, developing new opinions and beliefs about their products and whoever says that social networks do not sell is wrong. In fact, in the study of changing buying habits that IBM launched a couple of weeks ago, online shopping has become a micro-moment where the that comes between chatting and the web surfing done in his cell phone. For this reason, being present on as many platforms as possible such as Instagram, Tik Tok or Spotify, yes, Spotify has become essential.

The ease of exchanging ideas beyond friends and family has made influencers more than brand ambassadors. Thanks to them, brands can reach their public with the endorsement of these figures generating a confidence bonus that by itself is difficult to achieve to the point that companies like Ringana are collaborating with influencers like Elka Mocker turning them into promoters who, together with their followers who want to collaborate, are dedicated to selling their natural cosmetics products through discounts and commissions they get for each sale.

The internet connection goes beyond people to connect with their interests and seen what they see, no one is safe anymore. According to the same report, one-third of consumers have stopped buying their favourite brands and have moved on to others that are more respectful of new needs.

For example, 62% of consumers in the world position themselves in favour of brands with a purpose by making the values of a brand exceed – at the moment of choosing between one product or another – the cost and practicality.

If companies want to be one step ahead of their competitors they have to reflect in their business plan these requirements and the new purchasing criteria by reformulating their star products or by creating specific lines for this target whether they are known brands or more niche ones.

So what must a brand do to stay in the hearts of consumers? Without a doubt, the first step for a brand competing in 2020 is to know how to differentiate itself in a unique way to stand out from the competition, either with innovative proposals such as DnaNudge‘s health-tech bracelet or with a fluid and dynamic communication such as that of the Spanish company Freshly Cosmetics. Or, the degree of commitment and coherence attracting consumers willing to pay more for sustainable and traceable brands, changing the perception of the whole process of production and consumption as we pointed out in our article on blockchain.

To follow this advice, it is not enough to use only good words, you must speak with facts. Whether it’s environmental sustainability, improving living conditions in developing countries or supporting a minority community, each cause is equally important and worthy to the extent that as a brand you choose the cause that is most in line with your original values and, in the end, you shape them based on the real possibilities that your brand has to defend it to the hilt.

As a brand manager, are you in this process right now? At Pointbleu Design we are experts in branding strategy, used to this process.

Contact us without obligation at guillaume.collinet@pointbleudesign.com together we will make sure your brand finds the perfect purpose according to your consumers, whatever country they are from.


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