Technology Affecting The Consumer Environment

GNP per capita has increased along with levels of education, literacy levels, and the average life expectancy. As a result, consumers have a higher purchasing power and are doing more research before deciding where to spend and what to spend their money on. There has also been a rise of women as the primary breadwinners for families (Rampell, 2013). This trend created an evolving family dynamic and shifted the roles of the traditional household (Darroch, 2015). While women are still more likely to be the primary caregiver in a family, it is more acceptable for women to be in the work force as well as join the work force as a single parent.

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Sustainable businesses and sustainable business practices is also a trend that has begun to emerge. Consumers have developed concerns about the environmental impact of business and their products and have focused more on the trend of “going green.” In addition, it has also become easier to look into companies and their products and practices due to the increase in technology and social media (Greengard, 2013). Consumers are becoming savvier and demanding more sustainable, ethical, or healthy practices and unveiling companies who attempt to fool the public about using sustainable or green practices (Darroch, 2015).
Another recent trend emerging and affecting the consumer environment is the shift in …show more content…
Consumers are surrounded by technology and the technology is continuously improving. Products and services such as the digital wallet, mobile compatible content, and real-time media buying, where consumers can be sent coupons and incentives on the spot based off of their location, have all been created and developed in response the technology trend (Greengard, 2013). From researching brands and products online, comparing costs, and reading other consumer’s reviews online, technology has also allowed consumers more power than previous