What are three key characteristics of today’s consumer?

Expert: Richard E. Last, Digital Retail Program Coordinator, College of Merchandising, Hospitality and Tourism, University of North Texas

“Three characteristics of today’s consumers: One, the consumer is very value driven. You can see just in the rise of usage of things like daily deals, private sales and show rooms. The idea of doing comparisons through mobile and in store is a value driven consumer. The second characteristic to recognize is that the consumer is socially connected today. She looks to her network for social validation and she looks to her network of networks. That means she expects to be able to be really involved in the co-creation of the product. Ideas like mass customization and crowd sourcing all become important because of the importance that social networks are no longer a one way communication. The third characteristic of today’s consumer is that the consumer is mobile. She is connected and mobile literally 24/7. Whether she is at work, at home, in the office, in the car, on the soccer field, even getting ready for bed at night with her mobile phone or iPad right next to the bed. She is always connected through mobile.”