Segment consumers by behaviour, not demographics
To create the best experience for your customer, you must first understand who your customer is. Understanding your customer isn’t limited to their demographics. Identifying the age, location and race of your customers, regardless of the way they think and behave can only get you so far.
In PwC’s 2019 Global Consumer Insights Survey, we identified certain behavioural and attitudinal characteristics in consumers across different industries. Integrating those characteristics with the demographical data, can help you create an enriched consumer profile and gives you the opportunity to engage with your consumers in a more meaningful way.
Understanding consumers helps you target them
Certain consumer segments are willing to pay premium prices for specific products. And these segments are analysed through their behavioural data, rather than just their age and gender. Consumers who are willing to pay premium prices often own smart home devices and use voice assistants to stream podcasts and make calls. As they try to lead a sustainable lifestyle, their purchasing decisions are based on making sustainable choices. They do their grocery shopping for a maximum of five minutes, or in “microtrips”, but much of their shopping is done online using mobile devices. When companies have access to such information, they can target this segment more accurately.
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