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ALF Insights

29 Jan 2024

A 2024 guide to buying signals and consumer trends

Natalie Fedden
Source: Adobe Stock
We breakdown the buying signals and consumer trends you need to know about for 2024 to help nail your new business strategy.

What’s in store for 2024?

At ALF we’re always trying to help you get one step ahead of the competition when it comes to approaching new business prospects.

At the start of the year, it’s important to set those goals you want to reach, but more importantly, have a strategy in place of how you’re going to get there. You may have a list of dream brands you’d like to bring in as new clients but are they ready to buy?

There are many factors that can create new opportunities:

  • Changing consumer behaviours
  • Growing market
  • Fast-growing companies
  • Increased competition
  • Declining market
  • Economic factors
  • Business and brand strategies
  • New appointments
  • Cyclical agency reviews
  • Calendar events
  • Seasons
  • Mergers & Acquisitions
  • Investments & IPOs
  • Hot Topics

Thankfully, you don’t need to put the hard work into researching across all of these themes as ALF has put together a list of predictions and trends for the year ahead. Plus, we’ve highlighted some of the brands that could benefit from these changes and/or switch up their marketing and advertising strategy as a result! Don’t forget ALF gives you access to these brands’ decision-maker contact details, historical advertising spend trends, agency relationship data, latest news stories and much more – everything you need to craft the perfect pitch!

2024 Consumers Trends

  • The cost-of-living crisis has brought about new consumer behaviours
  • The retail pie will be smaller – increased competition
  • People have got used to buying less and spending less
  • Consumers are more selective about where they shop and what the buy
  • Shoppers are more likely to opt for branded goods in certain categories
  • Consumers are demanding more from their retail or brand experience
  • More than ever, loyalty schemes will help boost sales and brand loyalty

Sectors to watch - Health & Wellbeing, Beauty & Skincare, Long-Life Food and Drink, Health-Based Food & Drink, Premium Food Ranges, Digital Banks, Quality Clothing Basics, Secondhand & Preloved, Gaming, Electric Vehicles, Travel and Experiences

Struggling sectors - Branded FMCG, Alcoholic Drinks, Takeaway & Restaurants, Insurance, Fast Fashion

For more information and access to the full report – enquire here.

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