The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.Learn More
Consumers are increasingly using tools such as the internet and social media to express opinions on brands and products. Daphne Kasriel, consumers research editor at Euromonitor International, explains how social networking has put consumer demands and complaints in the spotlight. Social networking has given consumers direct access to brands, and the scale and speed of reactions are bigger and faster than ever before. Brands need to be cautious on responding to consumers. Instead of responding to negative comments with blanket apologies, crowdsourcing initiatives can be implemented to take consumer opinions into consideration.
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