As we move into 2024, retail businesses will find it vital to look at how the past year changed their sales landscape, particularly when it comes to inflation and consumer spending. We’ve analyzed our most recent consumer surveys to bring Canadian firms the most pronounced trends in consumer behaviour to help navigate market shifts.
Unexpected changes like economic inflation, climate change, and COVID-19 pandemic have caused chain reactions throughout the global economy, shifting sales models and payment preferences (amongst other things) to a ‘new normal.’ Small to midsized enterprises (SMEs) in the retail industry have struggled to adapt quickly, but making changes to your marketing, pricing, and communications is no small feat.
To help retailers understand these changes and address inflation and consumer spending in the coming year, Capterra Canada has reanalyzed our recent research to find insights on customer behaviour in 2024. We took a look back on the consumer data we’ve collected and compared it against similar markets around the world in France, Germany, Australia and the UK to analyze how global consumers are reacting to these unprecedented changes.
Our new eBook shines a spotlight on consumer concerns and how new preferences and behaviours are shaping the landscape for small business strategy. You’ll also find tips and practical ways to address these challenges and use software to elevate your company’s response to new consumer worries.
In this eBook you’ll learn:
- How inflation is affecting consumer spending
- Ways to improve the buying experience for your customers
- Methods for boosting consumer trust amidst a murky data sharing landscape
- What customers really want to know in today's marketplace before making a purchase
Our eBook also provides key insights on how small business owners can respond to consumer concerns effectively and point you in the direction of software tools that can turn your response into an effective new business strategy.
This Capterra Consumer Trends Report identifies four trends that are the result of six surveys commissioned by Capterra and its affiliate companies. This report includes data from online surveys conducted between January 2022 and June 2023. Each survey was sent to approximately 5000 consumers (1000 from each country). Participants are consumers living in the UK, Australia, Canada, France and Germany. The results derived will be representative of the participants who took the survey and not the entire country/region.
The complete methodology can be found in the eBook.