Entrepreneur and global trade expert Randall Castillo Ortega offers insight into some of the trends that are going to shape the global commerce industry in 2023.
San José, Costa Rica – WEBWIRE – Saturday, October 22, 2022
The changing environment in which we live requires brands and companies to be willing to adapt their offer and their strategies to the new consumer trends of 2023. Although we cannot know for sure what awaits us, there are ways to analyze what are the consumer trends that have grown in recent years and thus be able to anticipate riding the wave before most brands do. Randall Castillo Ortega, an expert in global trade, explains some of what is expected in 2023.
Its no secret that a lot has changed in the last two years after the global pandemic inevitably transformed consumers. Understanding the trends of change in consumer behavior and studying the different strategies to implement these trends is essential for companies to succeed in developing the experiences, products and services that their consumers will demand in the coming years.
Technology is facilitating verification, tracking and follow-up methods that generate feelings of control in consumers, such as QR codes on product packaging. This can direct the consumer to a website where they can obtain information about the ingredients of the product. product or any other relevant information, to be sure that the products deliver what they promise.
The search for responsible consumption has become part of the lifestyle of many people. Frequently related news stories about how industries contribute to deforestation, excess waste and pollution have sparked in consumers a need to be increasingly conscious and less driven by consumerism.
Environmental problems and the exploitation of the planet caused by large industries have caused a crisis of consumerism and have worried consumers. Many wonder how they can shop, travel and consume with a clear conscience in the face of the current climate crisis.
Explains Castillo, Brands are acting to offer users possibilities to integrate sustainability into their daily lives through small gestures. In this way, consumers can easily find out how environmentally friendly a company is compared to others and choose the greenest option.
Since the pandemic and other local and global crises have caused anxiety and stress in the community,
consumers are looking for sources of entertainment that allow them to have moments of happiness and relaxation in their lives.
Digital technology has become the most accessible and common way to find entertainment, but consumers are looking for fun and joy in all areas of their lives. They have a new sense of appreciation for finding happiness in everyday things and being present in the moment.
One way that brands are bringing fun experiences to consumers is by encouraging them to play and have fun with their daily routines, such as experimenting with fashion, beauty, fitness and cooking. This responds to the need for consumers to find happiness in their daily lives and to be present in every moment.
With peoples concerns on the rise around topics from food safety and ethically sourced food to information security, consumers want to know more about the products they buy and the brands they buy them from.
For this reason, consumers today trust companies, governments and institutions less and less and are, therefore, less likely to believe brands when they say they follow ethical practices. Brands need to be transparent about their weaknesses and potential unethical practices, asserts Castillo, while communicating to their consumers where and why they are failing, and how they plan to address these issues in the future.
The term dark store is becoming a worldwide phenomenon. These dark or ghost stores are nothing more than traditional retail stores that have become logistics centers, where products are stored and then shipped through internet sales.
The origin of this distribution model was born in British and American grocery chains that sought to optimize efficiency in home delivery of food. Its arrival is not a consequence of the pandemic, but its current expansion internationally.
It is paradoxical that consumers, in addition to desiring innovation, also have a feeling of nostalgia for the traditional, their own. Thus, in the advertising industry, both at a national and international level.
Although nothing is exact and we do not know which of all will be more relevant, what is certain is that we are in the midst of a transformation process on a global scale, in which understanding new consumption habits will be crucial to cope with these changes without getting lost on the way.
About Randall Castillo Ortega
Randall Castillo Ortega has been involved in the financial space virtually his entire professional career. In addition to having founded the financial lending firm RACO, he is also an avid outdoorsman and, along with his family, is a huge community supporter. He regularly participates in community ceremonies and events organized to drive a better environment for children and families.
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