Market research
Online consumer behaviour can help predict the market trends
Customers use online search to look for the information, as it helps them make the purchase decision. The search behaviour can predict the market share for the brands.
Grace Katie is founder of Gracious Economics. She studied the search data to find which types of products are the most in demand. The study also revealed the aspects of products, which appealed most to the customers. It can help brands in positioning and creatives ( tone and voice).
In gifting category the most searched words were ‘mum’s birthday’ and ‘fathers’ day’. The second most used search keywords were activity based such as ‘spa’ ‘photoshoot’ and ‘track’. The least searched keyword in the category was weekend trips. Brands offering weekend trips could focus more on activity based day trips.
She wrote, “That’s interesting, but it only scratches the surface of what there is to learn from search data. When people search, they type in what they want or need, and often, what they’re willing to pay for. The data that those searches generate builds to nothing less than a full and detailed description of what economists call demand, or in other words, what it’s possible to sell.”
Worth your time: A new way to track consumer demand Link