Tailoring your marketing strategy to the needs of your target customers is absolutely crucial.
First, you must understand the different types of consumers that exist and which segments would be most benefited by your product.
If you’re expanding your business globally, it’s vital to understand the different types of global consumers around the world. At YunExpress USA, we pride ourselves on connecting businesses from all around the world to their customers.
Let’s take a look at eight categories that define consumer segments beyond basic demographics.
What Are Consumer Styles?
When identifying global consumer types, it’s important 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 these consumer types 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 other 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 therefore 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 US$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.
Only 5% of global consumers fall into this segment, which has an average age of 34 years old and an average annual income of $33,827.
This image-conscious segment likes to shop and sees value in low-cost items. These bargain shoppers are influenced by premium and well-known brands and can’t pass up a good deal when they see one.
How Can You Reach These Buyers?
Depending on which consumer-style reflects your target customer, you’ll want to tailor your approach to the interests, desires, and habits of that audience.
The Traditional Consumer will be attracted to low prices and discounts and is the least likely to be influenced by all marketing channels.
The Adventurer is best reached through traditional marketing tactics like in-store ads, commercials and loyalty rewards programs.
Trendsetters are most influenced by social media and nontraditional marketing tactics.
Cause Motivated buyers are active on social media and responsive to loyalty rewards programs and commercials.
The Striver is the most likely of all consumer styles to be influenced by all of the marketing channels but are particularly sways by social media and celebrity endorsements.
Family Oriented consumers are influenced by traditional marketing like TV commercials and loyalty rewards programs as well as social media.
Impulse Buyers are attracted to great deals on brand names and take use of their impulsive habits both in-store and online.
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.
Knowing the Types of Consumers is Crucial in Helping Your Business Grow
These categories of types of consumers are far more useful than simply dividing the world by their age, gender, education, salary, and so on. By understanding the values and lifestyles of global consumers you can also understand what drives their purchasing decisions.
If you found this article useful, be sure to check out the rest of our blog for everything you could ever need to know about shipping and e-commerce!
Related: The Global Ecommerce Evolution