Globalisation Drivers: Consumer Patterns

This set covers global business development drivers, specifically focusing on consumer purchasing and spending patterns as part of globalisation.

Consumer Purchasing Patterns

The process a global customer uses to complete a commercial transaction, often moving away from traditional bricks and mortar and cash transitions to online methods.

E-commerce

The online purchase of goods that facilitates the payment of products over the internet, including m-commerce and app commerce.

Alternative Payments

A global consumer pattern moving away from credit cards toward budget-conscious options such as Afterpay and Zip pay.

Instant Distribution

The movement of products via the internet, specifically for goods like video, music, and software.

Physical Distribution

The transport of tangible goods across borders via rail, road, air, and sea, often including the ability to track the product.

Accessibility in E-commerce

Websites that operate 24/7 to remain accessible to global consumers regardless of time zones and currency differences.

Data Breach

A security concern for e-commerce sites which has seen an increase of over $250\%$, impacting the public image of a business.

AI Data Collection

The use of artificial intelligence to collect data through permissions like location and camera to predict consumer needs and make offers.

Consumer Spending Patterns

The types of products global consumers are buying, currently focused on customised products, advanced technology, ethical products, and sustainable businesses.

Middle Income Earners

A group rising in developing countries due to increased job availability, leading to higher levels of disposable income globally.

Psychological Factors

Factors influencing spending where consumers trust global brands seen as successful and seek ethical businesses that share environmental concerns.

Greenwashing

The difficulty in identifying how truly ethical global brands are, especially when subsidiaries or supply chain partners may not share the same standards.

Cultural Erosion

The spread of commercialised Western or "American" culture through global business that can result in the loss of local cultural practices.