These last years have served as a reminder of how consumer behavior can change rapidly and abruptly. Consumers have been subject to unique pressures since 2020, from the switch to online shopping during COVID-19 pandemic to the effects of significant inflation as the globe recovers. These pressures have been accompanied by several changes in technology, social media, and consumer attitudes, which are affecting consumer behavior. In 2022, the changes that were felt during the pandemic will continue to have an impact on consumer behavior. There are also some exciting new developments. Continue reading to discover 3 consumer behavior trends you should be watching in 2022.
1.) Podcasts continue to gain popularity
Podcasts are not a new technology. However, they have gained new popularity in 2022. Insider Intelligence reported that the number of podcast listeners increased from 274 million in 2019, to 383 million by 2021. According to the report, this number will rise by 40 million by 2022, for a total audience 424 million. This would represent 20.3% of internet users.
As more people work from home, the demand for audio on-demand is increasing. This has led to the growth. Podcasts have seen a rise in popularity due to the constant availability of audio via smartphones and smart speakers.
The report shows that younger consumers are driving the rise of podcasting, with 39% of Americans aged 18-34 listening to podcasts every month.
Podcasts are a huge opportunity for advertisers, especially those looking to reach younger audiences. This potential is being noticed by companies. According to the report, podcast advertising spending will increase by 30% year-over-year in the U.S. in 2022.
2.) 2.) Consumers Want Sustainability
Brands are responding to consumers’ calls for sustainability, especially in the food and energy industries. Food companies market alternatives to meat, while energy companies focus on sustainability and invest in renewable energy sources.
In 2022, electric vehicle sales are expected to rise. Recent reports predicted a 60% increase in electric vehicle sales by 2022. Total sales will rise from 526,004 to 845,050 between 2021 and 2022.
Fashion is seeing a shift in consumers’ attitudes towards sustainability, especially among younger customers. Many people became hobbyists during the pandemic. A recent study predicts that the resale clothing market will continue to grow in popularity by 2022. The report predicts a steady increase in sales, more that doubling from $36 million in 2021 to $77 million in 2025.
3.) 3.) TikTok drives the social media conversation
Tik Tok continues its growth. The platform announced that it has surpassed 1,000,000 active users in September 2021. This is a significant increase from the 55 million users it reported back in January 2018. As more people look for short videos from influencers to review and recommend products, the platform’s growth will have a major impact on consumer behavior.
Brands are now realizing that the online conversation has moved to Tik Tok. They are using sentiment analysis, an AI based social listening tool, to analyze both captions and Tik Tok videos.
NetBase Quid, a social media analytics platform, can use sentiment analysis in order to give a numerical rating. This tracks the positive and negative sentiments expressed in Tik Tok post. This data can be used by companies to sort it according to different audience segments and demographics to determine market gaps and create Tik Tok marketing strategies. As Tik Tok users increase, these social media analytics tools are invaluable.
Analyzing consumer behavior
Brands should continuously monitor consumer behavior in order to spot trends and develop marketing strategies. This is where social media analytics can play a crucial role. These three trends are important to watch for brands who want to reach more customers. However, other social listening tools like sentiment analysis can help identify additional trends that will be worth your attention in 2022.