Consumer Behaviours in the 1990s, 2000 and 2020s

During the 1990s, consumers were influenced by traditional advertising, which fostered brand loyalty and trust. With limited competition, they took a smart approach to spending, conducting thorough research, and prioritizing quality and durability over short-term trends.

In 2000s, the internet revolutionized consumers psychology, enabling access to extensive product information and online shopping. Consumers became price-conscious, influenced by peer recommendations and online influencers. The era also saw the emergence of “foodies” through social media, driving the F&B industry’s success, 

Post COVID-19

Post COVID-19, the global economy has undergone significant transformation, necessitating a deeper understanding of consumers. Presently, two distinct categories of consumers have emerged: the affluent and the economically challenged. Many businesses are struggling due to their failure to identify and cater to the specific needs of these divergent consumer segments.

The rich consumers, characterized by their substantial spending power, seek unique and enduring experiences. They prioritize exclusivity and expect establishments to provide experiences and services that stand out from the ordinary. They value establishments that offer feel good experiences that leave lasting impressions.

While today’s consumers are more knowledgeable than their predecessors, they seem to be less discerning in their choices. This has created a golden era for businesses, where even simple products like bubble tea can be sold at premium prices, a feat not achievable in the 90s. The prevalence of busy and distracted lives has led consumers to gravitate towards trending items, making selling easier than ever before. However, many founders and entrepreneurs still cling to outdated 90s business plans and strategies, failing to fully cater to the preferences of the present-day consumers.

3lindspot stands out with a business strategy that fosters lasting consumer excitement. Acknowledging the fleeting nature of novelty, creating an emotional bond with consumers. A meticulously crafted brand identity evokes wonder and curiosity, tailored to align with consumers’ aspirations. Consistency in delivering feel-good experiences builds trust and reinforces the emotional connection. Embracing consumers’ need for belonging, 3lindspot fosters a community-driven atmosphere, encouraging repeat visits and positive word-of-mouth. Continuous innovation and unique promotions maintain a perpetual state of excitement, sustaining engagement. This consumer-centric approach has defied odds, creating enduring excitement that resonates long after the first visit. By understanding desires and values, the brand forges meaningful connections, offering valuable insights for emerging outlets in a changing landscape.