Targeted Demographics: Types of Global Consumers
In today's world of increased global competition, it's important to determine who your key audience is. You need to identify things such as significant personal habits, whom their influencers happen to be, what drives their decisions to make purchases, as well as what kind of marketing and sales messages resonate with them is vitally important.
That said, not all consumers are alike.
You must recognize that whether your business makes money through offering services or selling goods, you need to understand the differences in the various types of global consumers out there. Doing so will only enable you to serve them better.
To get ahead of the competition, you've got to be able to pause long enough to listen and respond appropriately to the differing needs of those with whom you plan to do business.
The Various Types of Global Consumers
When identifying global consumer types, it's essential to move beyond defining market segments solely by demographics. Shopping and consumer habits don't fit neatly into simple categories of income, age, household size, or gender.
Consumer styles help companies pinpoint consumer types that use their products and where they can be found. By looking at shopping preferences, technology usage, health habits, personality traits, and "green" attitudes, a set number of consumer styles can be identified to help businesses target their ideal customers.
The traditional consumer is a saver rather than a spender.
They're more likely to actively avoid shopping than other consumer styles. Generally, content with life as it is, they aren't attracted to premium or branded products the way some different consumer types might be.
These frugal consumers are most interested in the lowest prices and the best bargains on the things they need. They rarely make impulse purchases.
Making up 14% of global consumers, this segment has an average income of $32,776 and an average age of 38. This future-focused group is 52% female. They're saving up for travel adventures and are cautious with their money.
This segment isn't particularly brand loyal. They're more interested in getting the most value for the money; this means that this segment might be a good target for new brands with competitively priced products.
This group does quite a bit of research when making purchasing decisions. If this is a target demographic for your business, product descriptions and price points should be written with this in mind.
Trendsetters are active on social media and highly likely to try new products.
Brand motivated and image-conscious, trendsetters value their self-image of being a consumer leader rather than a follower.
15% of global consumers are what you could consider “cause-motivated.” With the third-highest average income of $37,915 and an average age of 39 years old, these are people who identify with issues that concern them and strive to make a difference in the world.
Their concern for global issues drives them to value products that they believe reduce their carbon footprint. More interested in seeking out higher quality and more durable products, the cause-motivated consumer is drawn to eco-conscious choices and brands that they see as ethical.
Cause motivated consumers are driven to some extent by personal image and status. They’re likely to keep up with trends and purchase new products. The most influential marketing channel for this segment is social media.
This image-conscious and tech-savvy group makes up 14% of global consumers. They have the highest annual income out of these segments, making, on average, $45,171. With an average age of 36, this 55% male group keeps up with the latest trends.
Luxury, premium, and trendy products might see this group as a top consumer segment to target. This segment is tuned into consumer trends and always wants to look their best. Plugged into social media, they frequently use mobile platforms to seek out products, do research, and for purchasing.
The family-oriented consumer focuses mostly on their family, their home, and their spirituality. While they don't dislike shopping, they're less materialistic than other groups. They aren't particularly image-conscious.
Preferring to shop online, these consumers like to be able to compare prices and make their shopping decisions quickly. They aren't completely averse to in-store shopping, though. They tend to appreciate shopping, but it isn't a focus of their life or sense of identity.
Perhaps the easiest types of consumers in marketing to deal with, compliant consumers are those who go along to get along. These types of buyers won't disagree often or strenuously with your salespeople. Not necessarily pushovers, they'll still change their opinions if they feel it will create peace, harmony, and will make a situation less stressful.
Societal concerns and the wellbeing of the collective are more important to these people than their own beliefs. Ensuring that all are the same page is vital to these individuals.
Scrupulous consumers are high achievers and incredibly disciplined in life. These sorts tend to avoid spontaneous purchases and instead plan things out. They research what they intend to buy and carefully think things through before committing to a purchase.
Therefore, impulse buys are not typical of this type of consumer. Because this type of buyer does a lot of research first, they're also more likely to be happy with the product or service that they end up purchasing.
These types pride themselves on spending a little more as long as they get exactly what they want. That doesn't mean they throw money around, however. They'll be just as happy with a bargain as other types of consumers, provided they don't have to sacrifice quality.
These are the bargain hunters amongst global consumers. Price matters a lot to these people, and if they find a brand or store that provides them with the sort of deal they're looking for, they'll stay loyal to that store or brand forever (or for as long as those same sorts of sales are made available).
Saving money is a crucial motivator for these individuals. Therefore, you should emphasize any deal or discount that you are willing to offer. The more you can make these types aware that you provide a lower price than your competitors on X-items or services, the more likely they are to visit and make a purchase.
These are other businesses who may want your products or services. These can include corporations in many different industries with different business models such as commercial, retail, and industrial consumers. You may also find government entities and non-profit organizations among your commercial buyers from time to time.
All of these businesses have the potential to bring in much more cash than individual customers do. Of course, this is because companies have access to funds that everyday people may not. (You should always pay attention to customer service, but sometimes you need to tailor it to different markets as well as to the size of the customer.)
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With that said, it's important to note that businesses will often negotiate prices with sellers, and they'll commonly buy in bulk. It's important to remember that these types of consumers may have specific needs for their businesses. You may need to consider whether it's worthwhile to tailor your services or products specifically for them.
For example, you may need to work with purchase orders to accommodate them.
These types of global buyers are social in just about every area of their lives. They have a ton of energy and might be described as "loud and proud." They're enthusiastic about most things. It's important to note that these types of consumers in marketing have a higher need for social interaction. They prefer stores and brands that offer something with a high degree of uniqueness and emotional impact. These types also value relationships, and if you're able to secure them and get them enthusiastic about your brand, the odds are that they'll remain one of your buyers for life.
It's important to note that with this group, their purchasing habits can increase or decrease depending on their parents' income. With that said, this type of global consumer can still be a remarkably reliable and stable source of income. They have no bills of their own. Therefore any money they earn can be saved or spent. Their purchasing decisions can be impulsive, and this group of buyers will continue to buy even during economic downturns.
Real Impulsive Consumers
While teens are known to be impulsive, there is another group of buyers that don't stop impulse shopping when they've grown to adulthood.
Because they seldom shop with a particular product or service in mind, this group can be more challenging to deal with than others. Brands are not as relevant to these people because everything is about how they feel at any given time. This fact makes these people incredibly unpredictable.
At the same time, it's a good thing to remember that impulse shoppers actually make most purchases worldwide. This is true even when making large purchases like houses and cars where the price tag is significant. With this group, emotions are almost always more important than logic. This is a fact which businesses should take into account when putting together marketing campaigns.
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You could argue that this type of consumer in marketing is the direct opposite of the impulse consumer. Their purchases are based on whatever they happen to need, whereas an impulse buyer will choose to make a purchase whether they need a product or service or not.
When it comes to need-based buying, these consumers might be trying to fill a spiritual need, a legal need, a practical need, or a financial need. The point is that if you can discover what these types of consumers' needs are, you can then take advantage by ensuring that your marketing anticipates and shows how your product or service meets those needs and surpasses their expectations.
How Can You Reach These Consumers?
Depending on which consumer-style reflects your target customer, you'll want to tailor your approach to that audience's interests, desires, and habits.
Each type of consumer expects you to satisfy their needs in different ways, and adapting your marketing strategy to your target customers' needs is crucial. By understanding the different types of consumers and focusing on those who would benefit the most from your products and services, you can achieve the best results and connect with consumers worldwide.
When shipping your products globally, you'll want to have a seamless delivery process without surprise costs, delays, or unhappy customers. For these reasons, you might want to consider DDP shipping for your business.
Helping Your Business Grow Through Your Consumers
No matter what types of global consumers one is talking about, they all have something in common. They all want you to know them and understand their needs, wants, and desires.
Indeed, a company that asks consumers for their opinions increases the chances that those people will make a purchase by up to 62%! Moreover, a survey showed that more than half of those same consumers would be more loyal to that company.
Additionally, regardless of the type of global consumer you're dealing with, you may find that they appreciate you and your brand to a degree you may not have thought possible if you demonstrate your understanding before they've even been asked.
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- By Vanessa Tran
- Oct 30, 2020
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