Changes in consumer behavior and Generation N

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This massive group of online shoppers continues to grow and does not seem likely to return to their previous shopping preferences. A McKinsey study has shown that in the first half of 2020, up to 68% of Spanish consumers have changed their consumer behaviour , that is, they have changed brands, stores or websites.

In addition, a huge number, up to 60%, maintain that they will engineering directors email list maintain the new course. What does this mean? Well, the market has been repositioned and brand loyalty is no longer what it was before March 2020. And that represents both a threat and an opportunity .

With these parameters we find what is being defined as Generation N , a huge group of high-value consumers accustomed to very satisfactory and comfortable online shopping experiences , which reduce their level of social anxiety and concern for their health. Brian Solis has written a fantastic article about this Generation N.

Retailers who have not adapted or are not taking measures to attract this group of consumers (young and high-value) will be left behind. Retail companies have adapted to this new environment because their sales are massive and have very short sales cycles . For this reason, there has been an absolute boom in merchants who have gone into online sales as the only alternative to disaster.