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Technology and the Economy: Catalysts For New Buying Behavior

By Christina Sommer

Understanding and basing business decisions on current and emerging consumer trends is a must if retailers hope to continue to engage U.S. consumers and fend off new forms of competition.

MasterCard, in collaboration with GfK Roper Consulting, has identified the seven consumer trends that are having the greatest impact on retailers. Interestingly, “Finances @ the Foundation” is the number one trend across all segments with the exception of Youth.

While each of the seven consumer trends needs to be understood individually, looking at them as a group yields three high-level themes:

  • Consumers are looking for affiliations not only with people, but also with companies and brands that help define who they are as individuals.
  • Technology has made the world smaller and has provided a platform for consumers to make connections with friends, acquaintances, and even strangers.
  • There is a fine line between providing options and overwhelming consumers with too many data points.

1. GfK Roper Consulting, Mood of the World—United States, June 2011.

Consumer Trends with the Greatest Impact on U.S. Retailers

Source: GfK Roper Consulting, Mood of the World–United States, June 2011, MasterCard analysis.