Share, , Google Plus, Pinterest,


Posted in:

The Role Social Change Plays in Purchasing Decisions

Political activist Emma Goldman once said, “No real social change has ever been brought about without a revolution… Revolution is thought carried into action.”

In this rapidly shifting economy, change seems to occur on a daily basis. Those who are not part of the tech industry see technology as something that’s moving too fast.

They view it as a threat. However, the reality is that social change is moving so fast that technology has to speed up to keep up with society! It’s all relative.

Older generations are not as adaptable as today’s youth; therefore, it is hard for them to change their ways and adapt to something as simple as online shopping or even purchasing an app through the app store.

Even if the app would increase their productivity or facilitate a process, they would rather do things the good old-fashioned way.

Companies that don’t market like it’s 2016 and stay ahead of the trends die out. Why? Because they have ignored the social revolution taking place around them.

Companies that failed to adapt to the changing times and ended up going out of business include:

● Blockbuster
● Polaroid
● Borders
● Pan Am
● Compaq

What is this force that seems to make everything move faster, and how do younger generations have the skills to keep up with it all?

The younger generation prefers technology over anything else.

This is not because it’s the “cool” thing to do; it’s because technology is their native environment. Generation Z was born with the internet in their hands, and connecting via social media is natural for them.

Our generation uses Uber not because its “dope” but because it’s a no brainer. It’s much easier to tap the screen a couple of times than to pick up a phone and stay on hold for 5 minutes… and end up paying twice as much!

Not to mention having to wait outside because you have absolutely no clue where your cab will stop.

All of these changes are occurring not only because people want things faster, cheaper and better but because technology has to keep up with social changes.

Most importantly, businesses can learn to adapt how they market to an audience by analyzing:

● Population size in a given city
● On-demand economy
● The way we eat, where we eat, how we eat
● Racism
● The environment
● Lifestyles
● Religions
● Values
● Cultural shifts
● Time management
● Attitude toward the work space

All of these affect our purchasing decisions at a conscious and subconscious level. Here’s an example of a shift that could happen in the near future.

Starbucks markets itself as the place between home and the office. Well, I don’t know about you but the law of diminishing returns does apply to me.

Though I’m a Starbucks fan, it does get old to have to stop at a place to catch up on email or do some work.

Especially when the place seldom has an empty seat, and when you do find one it has no outlet to charge your phone or laptop.

Well, if I owned a Tesla, that would be the place between my office and my house, as I am sure it would be for all of us. The only thing that put a damper on this thought was that Teslas are too pricey for most of the population.

However, that changed once they released the news that owners could rent out the Tesla while not using it, so the car will eventually pay itself off. Beware, Starbucks!