SOCIAL factors including war, inflation, supply chain disruptions, energy crisis, worker shortage and the Covid-19 pandemic are affecting buying patterns.
Greater awareness and activi *** around environmental, social and governance are also becoming strong influencing factors for decision-making.
In addition, consumers also consider the transparency factor in business is a major influencing factor.
According to 36% of respondents to a survey, admission of past mistakes and paying a fair share of taxes are major influences while 40% take social factors into consideration when making their decisions.
These are the findings of the global consumer insights survey by PwC this month.
The shopping habits formed during the pandemic are likely to stick as half of the respondents say they will continue with online shopping over the next six months.
A total of 75% plans to sustain or increase the current spending levels.
A total of 50% of the respondents want to spend more on groceries in the next six months while a growing number of them want to spend less on non-essential items such as fashion, beauty and consumer electronics in view of inflation.
Interestingly, 42% of respondents believe that local and domestic products are of higher quality.
A total of 9,069 consumers across 25 countries responded to the survey.
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